Park Hotels & Resorts Inc (NYSE:PK) has received a consensus recommendation of “Hold” from the thirteen brokerages that are currently covering the firm, Marketbeat.com reports. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $33.00.
Several research analysts recently weighed in on PK shares. TheStreet raised shares of Park Hotels & Resorts from a “c” rating to a “b-” rating in a research note on Friday, February 22nd. Barclays reissued a “buy” rating and issued a $35.00 target price on shares of Park Hotels & Resorts in a research note on Sunday, March 3rd. Zacks Investment Research raised shares of Park Hotels & Resorts from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a research note on Wednesday, March 6th. Deutsche Bank set a $34.00 target price on shares of Park Hotels & Resorts and gave the company a “hold” rating in a research note on Friday, March 1st. Finally, Nomura boosted their target price on shares of Park Hotels & Resorts from $32.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, February 28th.
PK stock traded down $0.31 during trading on Wednesday, hitting $31.59. The stock had a trading volume of 997,655 shares, compared to its average volume of 1,556,286. Park Hotels & Resorts has a 1-year low of $25.30 and a 1-year high of $34.27. The company has a market capitalization of $6.43 billion, a price-to-earnings ratio of 10.67, a PEG ratio of 2.16 and a beta of 1.28. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.53.
Park Hotels & Resorts (NYSE:PK) last announced its earnings results on Wednesday, February 27th. The financial services provider reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.40). Park Hotels & Resorts had a net margin of 17.25% and a return on equity of 8.29%. The firm had revenue of $686.00 million during the quarter, compared to analyst estimates of $659.09 million. During the same period in the previous year, the firm posted $0.68 EPS. The company’s revenue for the quarter was up .0% compared to the same quarter last year. As a group, research analysts predict that Park Hotels & Resorts will post 2.95 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 29th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 5.70%. The ex-dividend date is Thursday, March 28th. Park Hotels & Resorts’s dividend payout ratio (DPR) is 60.81%.
Institutional investors and hedge funds have recently bought and sold shares of the business. Rehmann Capital Advisory Group grew its holdings in Park Hotels & Resorts by 110.2% in the 3rd quarter. Rehmann Capital Advisory Group now owns 807 shares of the financial services provider’s stock valued at $26,000 after buying an additional 423 shares during the period. Next Capital Management LLC purchased a new stake in Park Hotels & Resorts in the 4th quarter valued at about $36,000. Enlightenment Research LLC purchased a new stake in Park Hotels & Resorts in the 4th quarter valued at about $81,000. Robecosam AG grew its holdings in Park Hotels & Resorts by 28.6% in the 4th quarter. Robecosam AG now owns 4,500 shares of the financial services provider’s stock valued at $116,000 after buying an additional 1,000 shares during the period. Finally, PNC Financial Services Group Inc. grew its holdings in Park Hotels & Resorts by 62.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,613 shares of the financial services provider’s stock valued at $146,000 after buying an additional 2,163 shares during the period.
About Park Hotels & Resorts
Park is the second largest publicly traded lodging REIT with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio consists of 54 premium-branded hotels and resorts with over 32,000 rooms, a majority of which are located in prime United States markets with high barriers to entry.
See Also: Systematic Risk
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