Park Hotels & Resorts (NYSE:PK) Announces Quarterly Earnings Results, Misses Expectations By $0.33 EPS

Park Hotels & Resorts (NYSE:PK) released its earnings results on Thursday. The financial services provider reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.33), Zacks reports. Park Hotels & Resorts had a negative return on equity of 6.71% and a negative net margin of 8.49%.The company had revenue of $622.00 million for the quarter, compared to the consensus estimate of $609.77 million. During the same quarter in the previous year, the company posted $0.46 EPS. The business’s revenue was down 1.3% on a year-over-year basis. Park Hotels & Resorts updated its FY 2026 guidance to 1.740-1.900 EPS.

Park Hotels & Resorts Price Performance

Park Hotels & Resorts stock opened at $11.05 on Tuesday. Park Hotels & Resorts has a 12 month low of $9.84 and a 12 month high of $12.39. The stock’s 50 day moving average is $10.92 and its 200-day moving average is $10.90. The company has a current ratio of 1.25, a quick ratio of 1.34 and a debt-to-equity ratio of 1.27. The company has a market capitalization of $2.22 billion, a price-to-earnings ratio of -10.14 and a beta of 1.37.

Park Hotels & Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, June 30th. This represents a $1.00 annualized dividend and a yield of 9.0%. Park Hotels & Resorts’s dividend payout ratio (DPR) is -69.93%.

Wall Street Analyst Weigh In

Several research firms have weighed in on PK. Cantor Fitzgerald boosted their price target on Park Hotels & Resorts from $11.00 to $12.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 3rd. Truist Financial increased their price objective on Park Hotels & Resorts from $11.00 to $12.00 and gave the company a “hold” rating in a report on Thursday, March 26th. Wells Fargo & Company cut their price objective on Park Hotels & Resorts from $11.00 to $10.00 and set an “equal weight” rating for the company in a report on Tuesday, March 24th. LADENBURG THALM/SH SH initiated coverage on shares of Park Hotels & Resorts in a report on Thursday, March 26th. They set a “buy” rating and a $16.00 target price on the stock. Finally, Morgan Stanley set a $10.00 price target on shares of Park Hotels & Resorts in a research report on Friday, January 16th. Two analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Park Hotels & Resorts has a consensus rating of “Hold” and a consensus price target of $11.50.

Institutional Trading of Park Hotels & Resorts

Several institutional investors have recently added to or reduced their stakes in PK. Amundi increased its position in Park Hotels & Resorts by 1.9% during the 1st quarter. Amundi now owns 115,143 shares of the financial services provider’s stock worth $1,119,000 after buying an additional 2,179 shares during the period. Millennium Management LLC lifted its holdings in shares of Park Hotels & Resorts by 849.3% during the first quarter. Millennium Management LLC now owns 523,851 shares of the financial services provider’s stock worth $5,595,000 after buying an additional 468,668 shares in the last quarter. United Services Automobile Association bought a new stake in shares of Park Hotels & Resorts in the first quarter valued at about $152,000. Empowered Funds LLC boosted its position in shares of Park Hotels & Resorts by 10.1% in the first quarter. Empowered Funds LLC now owns 22,380 shares of the financial services provider’s stock valued at $239,000 after acquiring an additional 2,058 shares during the period. Finally, Focus Partners Wealth boosted its position in shares of Park Hotels & Resorts by 30.6% in the first quarter. Focus Partners Wealth now owns 18,646 shares of the financial services provider’s stock valued at $199,000 after acquiring an additional 4,374 shares during the period. 92.69% of the stock is currently owned by institutional investors.

About Park Hotels & Resorts

Park Hotels & Resorts Inc is a publicly traded real estate investment trust (REIT) specializing in luxury and upper-upscale hospitality properties. The company’s primary business activity involves owning and leasing premier hotels and resorts across major urban and resort destinations. Through long-term management and franchise agreements with leading hotel operators, Park generates revenue from room nights, food and beverage offerings, meetings and events, and ancillary services.

Since its spin-off from Hilton Worldwide in January 2017, Park Hotels & Resorts has assembled a diversified portfolio of more than 60 properties.