Park Hotels & Resorts (NYSE:PK) Price Target Raised to $16.00

Park Hotels & Resorts (NYSE:PK) had its price target hoisted by JPMorgan Chase & Co. from $14.00 to $16.00 in a research note published on Wednesday,Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the financial services provider’s stock.

Several other research firms have also recently weighed in on PK. Weiss Ratings raised Park Hotels & Resorts from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, August 11th. Raymond James Financial raised Park Hotels & Resorts from a “market perform” rating to a “strong-buy” rating and set a $19.00 price objective for the company in a report on Monday, September 28th. Truist Financial lifted their price objective on Park Hotels & Resorts from $13.00 to $17.00 and gave the stock a “hold” rating in a report on Thursday, September 10th. UBS Group upgraded Park Hotels & Resorts from a “neutral” rating to a “hold” rating in a research report on Monday, September 28th. Finally, Cantor Fitzgerald increased their target price on Park Hotels & Resorts from $12.00 to $15.00 and gave the company a “neutral” rating in a report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $16.09.

Park Hotels & Resorts Price Performance

Shares of NYSE:PK opened at $16.34 on Wednesday. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.53 and a current ratio of 1.53. The firm has a market cap of $3.29 billion, a price-to-earnings ratio of -19.69 and a beta of 1.36. The business has a 50-day simple moving average of $15.52 and a two-hundred day simple moving average of $14.00. Park Hotels & Resorts has a fifty-two week low of $9.84 and a fifty-two week high of $17.14.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings results on Thursday, August 6th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.24. Park Hotels & Resorts had a negative net margin of 6.41% and a negative return on equity of 5.23%. The firm had revenue of $680.00 million for the quarter, compared to the consensus estimate of $659.68 million. During the same quarter last year, the firm posted $0.64 EPS. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. Park Hotels & Resorts has set its FY 2026 guidance at 1.900-2.000 EPS. On average, analysts expect that Park Hotels & Resorts will post 1.87 earnings per share for the current year.

Park Hotels & Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were paid a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $1.00 dividend on an annualized basis and a yield of 6.1%. Park Hotels & Resorts’s payout ratio is -120.48%.

Hedge Funds Weigh In On Park Hotels & Resorts

A number of large investors have recently added to or reduced their stakes in the company. Two Sigma Securities LLC purchased a new stake in Park Hotels & Resorts in the second quarter valued at about $527,000. Advisors Capital Management LLC acquired a new stake in Park Hotels & Resorts in the second quarter worth about $19,160,000. Northwestern Mutual Wealth Management Co. boosted its holdings in Park Hotels & Resorts by 227.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 121,666 shares of the financial services provider’s stock worth $1,734,000 after acquiring an additional 84,544 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new stake in shares of Park Hotels & Resorts during the second quarter worth about $2,748,000. Finally, Jupiter Topco LLC purchased a new stake in shares of Park Hotels & Resorts during the second quarter worth about $4,230,000. 92.69% of the stock is currently owned by institutional investors.

Park Hotels & Resorts Company Profile

Park Hotels & Resorts Inc (NYSE: PK) is a real estate investment trust focused on owning and operating hotels and resorts. The company’s portfolio includes full-service properties in major business and leisure destinations, with hotels operating under Hilton brands as well as other nationally recognized and independent brands.

Park’s properties provide lodging, food and beverage, meeting and event facilities, and other hospitality services. Its hotels are located primarily in the United States, including gateway cities, convention markets, and resort destinations.

Park Hotels & Resorts was formed in 2017 through a spin-off from Hilton Worldwide Holdings.