Park Hotels & Resorts Inc. (NYSE:PK) Receives Average Rating of “Moderate Buy” from Analysts

Park Hotels & Resorts Inc. (NYSE:PK) has been given a consensus recommendation of “Moderate Buy” by the ten brokerages that are currently covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $17.72.

Several analysts have recently weighed in on the company. Jefferies Financial Group cut their price objective on Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Wells Fargo & Company cut their price target on shares of Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating for the company in a report on Tuesday, February 18th. Truist Financial lowered their price objective on shares of Park Hotels & Resorts from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. UBS Group cut their target price on shares of Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. Finally, StockNews.com lowered shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Friday, February 21st.

Hedge Funds Weigh In On Park Hotels & Resorts

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PK. Quarry LP bought a new position in shares of Park Hotels & Resorts in the fourth quarter worth about $35,000. GF Fund Management CO. LTD. acquired a new stake in Park Hotels & Resorts in the 4th quarter worth $53,000. Quadrant Capital Group LLC increased its holdings in shares of Park Hotels & Resorts by 38.4% during the 4th quarter. Quadrant Capital Group LLC now owns 4,814 shares of the financial services provider’s stock worth $68,000 after purchasing an additional 1,335 shares during the period. Jones Financial Companies Lllp raised its position in shares of Park Hotels & Resorts by 42.2% during the fourth quarter. Jones Financial Companies Lllp now owns 7,992 shares of the financial services provider’s stock valued at $112,000 after buying an additional 2,373 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Park Hotels & Resorts during the third quarter valued at about $116,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Park Hotels & Resorts Trading Down 2.3 %

Shares of NYSE:PK opened at $10.90 on Monday. The company has a quick ratio of 1.51, a current ratio of 1.19 and a debt-to-equity ratio of 1.27. The company’s 50-day moving average price is $12.48 and its 200 day moving average price is $13.83. The company has a market cap of $2.20 billion, a PE ratio of 10.79, a P/E/G ratio of 1.51 and a beta of 2.02. Park Hotels & Resorts has a fifty-two week low of $10.84 and a fifty-two week high of $17.87.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.01). Park Hotels & Resorts had a return on equity of 5.63% and a net margin of 8.16%. The business had revenue of $625.00 million for the quarter, compared to analyst estimates of $609.05 million. Sell-side analysts anticipate that Park Hotels & Resorts will post 2.11 earnings per share for the current year.

Park Hotels & Resorts Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 9.18%. The ex-dividend date of this dividend is Monday, March 31st. Park Hotels & Resorts’s payout ratio is 99.01%.

Park Hotels & Resorts Company Profile

Park Hotels & Resorts, Inc operates as a real estate investment trust, which owns and operates hotels and resorts. It operates through the Consolidated Hotels and Unconsolidated Hotels segments. Its portfolio of hotels and resorts include the Waldorf Astoria Hotels and Resorts, Conrad Hotels & Resorts, Hilton Hotels & Resorts, DoubleTree by Hilton, Embassy Suites by Hilton, Hilton Garden Inn, Hampton by Hilton, and Curio.