Park Hotels & Resorts Inc. Plans Quarterly Dividend of $0.25 (NYSE:PK)

Park Hotels & Resorts Inc. (NYSE:PK) announced a quarterly dividend on Friday, February 14th, Wall Street Journal reports. Investors of record on Monday, March 31st will be paid a dividend of 0.25 per share by the financial services provider on Tuesday, April 15th. 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 has a dividend payout ratio of 142.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Park Hotels & Resorts to earn $2.21 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 45.2%.

Park Hotels & Resorts Trading Down 2.3 %

PK opened at $10.90 on Friday. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of 10.79, a price-to-earnings-growth ratio of 1.51 and a beta of 2.02. The company’s 50 day simple moving average is $12.48 and its two-hundred day simple moving average is $13.83. Park Hotels & Resorts has a 1-year low of $10.84 and a 1-year high of $17.87. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.19 and a quick ratio of 1.51.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $0.39 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 company had revenue of $625.00 million for the quarter, compared to analysts’ expectations of $609.05 million. Analysts expect that Park Hotels & Resorts will post 2.11 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Truist Financial decreased their price target on 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 decreased their target price on Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. StockNews.com downgraded Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Friday, February 21st. Wells Fargo & Company reduced their price target on shares of Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 18th. Finally, Jefferies Financial Group dropped their price objective on shares of Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Park Hotels & Resorts has a consensus rating of “Hold” and a consensus target price of $17.72.

About Park Hotels & Resorts

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.