Park Hotels & Resorts (NYSE:PK) Releases Quarterly Earnings Results, Misses Estimates By $0.12 EPS

Park Hotels & Resorts (NYSE:PK) released its earnings results on Wednesday. The financial services provider reported ($0.10) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.12), FiscalAI reports. Park Hotels & Resorts had a negative net margin of 6.51% and a negative return on equity of 5.41%. The firm had revenue of $602.00 million during the quarter, compared to the consensus estimate of $601.95 million. During the same quarter in the previous year, the firm posted $0.35 EPS. The company’s revenue was down 1.3% on a year-over-year basis.

Park Hotels & Resorts Stock Performance

PK stock traded up $0.17 during trading hours on Friday, reaching $15.72. The stock had a trading volume of 4,321,429 shares, compared to its average volume of 4,319,882. The stock has a market capitalization of $3.17 billion, a PE ratio of -18.50 and a beta of 1.41. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.53 and a quick ratio of 1.53. The stock has a 50-day simple moving average of $15.68 and a 200 day simple moving average of $13.33. Park Hotels & Resorts has a fifty-two week low of $9.84 and a fifty-two week high of $17.14.

Park Hotels & Resorts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Thursday, December 31st will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 6.4%. The ex-dividend date of this dividend is Thursday, December 31st. Park Hotels & Resorts’s dividend payout ratio is -120.48%.

Analyst Ratings Changes

A number of analysts have recently commented on PK shares. Zacks Research raised shares of Park Hotels & Resorts from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 29th. Barclays raised their target price on shares of Park Hotels & Resorts from $12.00 to $14.00 and gave the company an “equal weight” rating in a research report on Thursday, August 27th. JPMorgan Chase & Co. lifted their price target on shares of Park Hotels & Resorts from $14.00 to $16.00 and gave the company an “underweight” rating in a research note on Wednesday, October 21st. Morgan Stanley boosted their price target on shares of Park Hotels & Resorts from $11.00 to $13.00 and gave the stock an “equal weight” rating in a research report on Monday, October 12th. Finally, Truist Financial increased their price objective on shares of Park Hotels & Resorts from $13.00 to $17.00 and gave the stock a “hold” rating in a research note on Thursday, September 10th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $16.64.

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.