Park Hotels & Resorts (NYSE:PK) Issues Q2 2022 Earnings Guidance

Park Hotels & Resorts (NYSE:PKGet Rating) updated its second quarter 2022 earnings guidance on Monday. The company provided EPS guidance of $0.47-$0.56 for the period. The company issued revenue guidance of -.

A number of brokerages recently weighed in on PK. Jefferies Financial Group lowered shares of Park Hotels & Resorts from a buy rating to a hold rating and decreased their price target for the company from $25.00 to $19.00 in a research note on Wednesday, March 30th. Truist Financial raised shares of Park Hotels & Resorts from a hold rating to a buy rating and raised their target price for the stock from $19.00 to $22.00 in a research note on Wednesday, June 1st. StockNews.com raised shares of Park Hotels & Resorts from a sell rating to a hold rating in a research note on Tuesday, May 3rd. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Park Hotels & Resorts from $26.00 to $28.00 in a research note on Tuesday, May 3rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Hold and an average target price of $21.83.

Shares of NYSE PK opened at $13.56 on Tuesday. The company has a 50 day simple moving average of $17.08 and a 200-day simple moving average of $18.21. The company has a debt-to-equity ratio of 1.09, a quick ratio of 3.02 and a current ratio of 3.02. Park Hotels & Resorts has a 1 year low of $12.97 and a 1 year high of $21.62.

Park Hotels & Resorts (NYSE:PKGet Rating) last announced its quarterly earnings results on Monday, May 2nd. The financial services provider reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.21). The firm had revenue of $479.00 million for the quarter, compared to analyst estimates of $420.53 million. Park Hotels & Resorts had a negative return on equity of 7.37% and a negative net margin of 19.45%. The firm’s quarterly revenue was up 190.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.48) EPS. On average, analysts anticipate that Park Hotels & Resorts will post 1.48 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Thursday, June 30th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Wednesday, June 29th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.29%. Park Hotels & Resorts’s dividend payout ratio is currently -2.92%.

In other news, Director Thomas D. Eckert purchased 10,000 shares of the business’s stock in a transaction dated Tuesday, June 14th. The stock was acquired at an average price of $15.12 per share, for a total transaction of $151,200.00. Following the acquisition, the director now directly owns 96,637 shares of the company’s stock, valued at $1,461,151.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.09% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of PK. Goldman Sachs Group Inc. increased its holdings in Park Hotels & Resorts by 87.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,698,915 shares of the financial services provider’s stock valued at $72,239,000 after purchasing an additional 1,729,984 shares during the last quarter. State Street Corp boosted its position in Park Hotels & Resorts by 5.5% in the 1st quarter. State Street Corp now owns 12,374,294 shares of the financial services provider’s stock valued at $241,791,000 after buying an additional 640,877 shares during the period. Vanguard Group Inc. boosted its position in Park Hotels & Resorts by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 33,696,042 shares of the financial services provider’s stock valued at $658,084,000 after buying an additional 567,015 shares during the period. Prudential Financial Inc. boosted its position in Park Hotels & Resorts by 20.0% in the 1st quarter. Prudential Financial Inc. now owns 3,356,983 shares of the financial services provider’s stock valued at $65,562,000 after buying an additional 558,927 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec purchased a new position in Park Hotels & Resorts in the 1st quarter valued at approximately $6,709,000. Hedge funds and other institutional investors own 90.60% of the company’s stock.

About Park Hotels & Resorts (Get Rating)

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 currently consists of 60 premium-branded hotels and resorts with over 33,000 rooms primarily located in prime city center and resort locations.

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Earnings History and Estimates for Park Hotels & Resorts (NYSE:PK)

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