Park Hotels & Resorts (NYSE:PK) Now Covered by BMO Capital Markets

BMO Capital Markets started coverage on shares of Park Hotels & Resorts (NYSE:PK) in a research report released on Wednesday, AnalystRatings.com reports. The firm issued a market perform rating and a $25.00 target price on the financial services provider’s stock.

PK has been the topic of a number of other reports. Evercore ISI upgraded shares of Park Hotels & Resorts from an in-line rating to an outperform rating and reduced their price target for the stock from $33.00 to $31.00 in a research report on Thursday, September 12th. Citigroup reduced their price target on shares of Park Hotels & Resorts from $31.00 to $25.00 and set a neutral rating on the stock in a research report on Thursday, September 5th. Deutsche Bank set a $33.00 price target on shares of Park Hotels & Resorts and gave the stock a hold rating in a research report on Wednesday, July 31st. UBS Group set a $24.00 price target on shares of Park Hotels & Resorts and gave the stock a hold rating in a research report on Friday, August 16th. Finally, Nomura reduced their price target on shares of Park Hotels & Resorts from $33.00 to $29.00 and set a buy rating on the stock in a research report on Friday, October 11th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $28.83.

NYSE PK traded up $0.08 during trading hours on Wednesday, reaching $22.75. 1,797,035 shares of the company traded hands, compared to its average volume of 2,749,837. Park Hotels & Resorts has a 12 month low of $22.38 and a 12 month high of $33.02. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $4.59 billion, a PE ratio of 7.69, a PEG ratio of 2.01 and a beta of 1.33. The company has a 50 day moving average of $24.47 and a two-hundred day moving average of $27.31.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.40 EPS for the quarter, missing the Zacks’ consensus estimate of $0.82 by ($0.42). Park Hotels & Resorts had a net margin of 10.52% and a return on equity of 5.06%. The company had revenue of $703.00 million for the quarter, compared to the consensus estimate of $694.08 million. During the same quarter last year, the company earned $0.93 earnings per share. The company’s revenue was down 3.8% compared to the same quarter last year. On average, equities research analysts anticipate that Park Hotels & Resorts will post 2.87 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.45 dividend. The ex-dividend date was Friday, September 27th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 7.91%. Park Hotels & Resorts’s dividend payout ratio (DPR) is presently 60.81%.

Several hedge funds have recently added to or reduced their stakes in the stock. Stephens Inc. AR increased its holdings in shares of Park Hotels & Resorts by 9.2% in the 3rd quarter. Stephens Inc. AR now owns 151,168 shares of the financial services provider’s stock worth $3,775,000 after acquiring an additional 12,799 shares during the period. Robecosam AG increased its holdings in shares of Park Hotels & Resorts by 8.6% in the 3rd quarter. Robecosam AG now owns 6,300 shares of the financial services provider’s stock worth $157,000 after acquiring an additional 500 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Park Hotels & Resorts by 18.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 60,932 shares of the financial services provider’s stock worth $1,521,000 after acquiring an additional 9,677 shares during the period. Oakbrook Investments LLC acquired a new stake in shares of Park Hotels & Resorts in the 3rd quarter worth about $325,000. Finally, San Francisco Sentry Investment Group CA acquired a new stake in shares of Park Hotels & Resorts in the 3rd quarter worth about $56,000.

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 52 premium-branded hotels and resorts with over 30,000 rooms, a substantial portion of which are located in prime United States markets with high barriers to entry.

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Analyst Recommendations for Park Hotels & Resorts (NYSE:PK)

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