Park Hotels & Resorts Inc. (NYSE:PK) Receives $14.08 Consensus PT from Brokerages

Shares of Park Hotels & Resorts Inc. (NYSE:PK) have received a consensus rating of “Hold” from the fourteen brokerages that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $14.4167.

Several research firms recently commented on PK. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $18.00 price target on shares of Park Hotels & Resorts in a research report on Friday, August 14th. JPMorgan Chase & Co. raised their price objective on Park Hotels & Resorts from $13.00 to $14.00 and gave the company an “underweight” rating in a research note on Monday, August 10th. Barclays lifted their target price on Park Hotels & Resorts from $12.00 to $14.00 and gave the stock an “equal weight” rating in a report on Thursday, August 27th. BMO Capital Markets raised Park Hotels & Resorts from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $14.00 to $18.00 in a research report on Tuesday, September 1st. Finally, Wells Fargo & Company upgraded Park Hotels & Resorts to a “hold” rating in a report on Thursday, July 23rd.

Hedge Funds Weigh In On Park Hotels & Resorts

A number of large investors have recently made changes to their positions in PK. Amundi raised its position in Park Hotels & Resorts by 1.9% in the 1st quarter. Amundi now owns 115,143 shares of the financial services provider’s stock worth $1,119,000 after purchasing an additional 2,179 shares during the period. Millennium Management LLC boosted its position 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 valued at $5,595,000 after buying an additional 468,668 shares during the period. United Services Automobile Association bought a new position in shares of Park Hotels & Resorts during the first quarter valued at approximately $152,000. Empowered Funds LLC grew its stake in shares of Park Hotels & Resorts by 10.1% during the first quarter. Empowered Funds LLC now owns 22,380 shares of the financial services provider’s stock valued at $239,000 after buying an additional 2,058 shares during the last quarter. Finally, Focus Partners Wealth raised its holdings 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 worth $199,000 after buying an additional 4,374 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

Park Hotels & Resorts Price Performance

PK stock opened at $15.27 on Monday. Park Hotels & Resorts has a 52 week low of $9.84 and a 52 week high of $16.20. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 1.29. The company has a fifty day simple moving average of $14.94 and a two-hundred day simple moving average of $12.87. The firm has a market capitalization of $3.07 billion, a P/E ratio of -18.40, a price-to-earnings-growth ratio of 1.98 and a beta of 1.33.

Park Hotels & Resorts (NYSE:PK) last posted its earnings results on Wednesday, August 5th. The financial services provider reported $0.24 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.24. The firm had revenue of $680.00 million for the quarter, compared to the consensus estimate of $659.68 million. Park Hotels & Resorts had a negative net margin of 6.41% and a negative return on equity of 5.23%. The business’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.64 EPS. Analysts anticipate that Park Hotels & Resorts will post 1.83 earnings per share for the current fiscal year.

Park Hotels & Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, September 30th. This represents a $1.00 dividend on an annualized basis and a yield of 6.5%. Park Hotels & Resorts’s payout ratio is -120.48%.

Park Hotels & Resorts Company Profile

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.