Park Hotels & Resorts (PK) to Release Quarterly Earnings on Tuesday

Park Hotels & Resorts (NYSE:PK) is scheduled to issue its quarterly earnings data after the market closes on Tuesday, April 30th. Analysts expect the company to announce earnings of $0.44 per share for the quarter. Park Hotels & Resorts has set its FY24 guidance at $2.02 to $2.22 EPS and its FY 2024 guidance at 2.020-2.220 EPS.Investors interested in listening to the company’s conference call can do so using this link.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings results on Tuesday, February 27th. The financial services provider reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.39. The business had revenue of $657.00 million for the quarter, compared to the consensus estimate of $665.16 million. Park Hotels & Resorts had a net margin of 3.60% and a return on equity of 2.44%. On average, analysts expect Park Hotels & Resorts to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Park Hotels & Resorts Stock Performance

Shares of NYSE:PK opened at $16.57 on Friday. The company has a market capitalization of $3.49 billion, a price-to-earnings ratio of 36.02, a P/E/G ratio of 0.84 and a beta of 2.03. The firm’s 50 day simple moving average is $16.91 and its 200 day simple moving average is $15.43. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.30 and a quick ratio of 1.30. Park Hotels & Resorts has a fifty-two week low of $11.05 and a fifty-two week high of $18.05.

Park Hotels & Resorts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a $0.25 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.04%. Park Hotels & Resorts’s dividend payout ratio is 217.39%.

Analyst Upgrades and Downgrades

PK has been the subject of a number of research reports. Barclays increased their target price on Park Hotels & Resorts from $19.00 to $21.00 and gave the stock an “overweight” rating in a research note on Friday, March 1st. Wells Fargo & Company increased their target price on Park Hotels & Resorts from $17.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 21st. Jefferies Financial Group raised Park Hotels & Resorts from a “hold” rating to a “buy” rating and increased their target price for the stock from $14.00 to $21.00 in a research note on Tuesday, January 2nd. Citigroup raised shares of Park Hotels & Resorts from a “neutral” rating to a “buy” rating and raised their price target for the stock from $14.00 to $20.00 in a research note on Friday, March 22nd. Finally, StockNews.com cut shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research note on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $17.58.

Park Hotels & Resorts Company Profile

Park is one of the largest publicly traded lodging REITs with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio currently consists of 43 premium-branded hotels and resorts with over 26,000 rooms primarily located in prime city center and resort locations.