Park Hotels & Resorts (NYSE:PK) Sets New 12-Month Low – Here’s What Happened

Park Hotels & Resorts Inc. (NYSE:PK) reached a new 52-week low on Friday . The stock traded as low as $10.84 and last traded at $10.90, with a volume of 2032511 shares changing hands. The stock had previously closed at $11.15.

Analysts Set New Price Targets

A number of research firms have commented on PK. Jefferies Financial Group decreased their target price on shares of Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Truist Financial reduced their target price on Park Hotels & Resorts from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, March 21st. StockNews.com downgraded shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Friday, February 21st. UBS Group decreased their target price on shares of Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. Finally, Wells Fargo & Company dropped their price target on Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $17.72.

Park Hotels & Resorts Stock Down 2.3 %

The business has a 50 day moving average of $12.54 and a two-hundred day moving average of $13.85. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.51 and a current ratio of 1.19. The stock has a market capitalization of $2.20 billion, a PE ratio of 10.79, a PEG ratio of 1.51 and a beta of 2.02.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.01). The firm had revenue of $625.00 million during the quarter, compared to the consensus estimate of $609.05 million. Park Hotels & Resorts had a net margin of 8.16% and a return on equity of 5.63%. Analysts predict that Park Hotels & Resorts Inc. will post 2.11 EPS for the current year.

Park Hotels & Resorts Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.00 annualized dividend and a dividend yield of 9.18%. Park Hotels & Resorts’s dividend payout ratio is presently 99.01%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quarry LP acquired a new stake in Park Hotels & Resorts in the fourth quarter worth about $35,000. GF Fund Management CO. LTD. purchased a new position in shares of Park Hotels & Resorts in the 4th quarter valued at approximately $53,000. Quadrant Capital Group LLC boosted its stake in Park Hotels & Resorts by 38.4% in the 4th quarter. Quadrant Capital Group LLC now owns 4,814 shares of the financial services provider’s stock worth $68,000 after purchasing an additional 1,335 shares in the last quarter. Jones Financial Companies Lllp grew its position in Park Hotels & Resorts by 42.2% during the 4th quarter. Jones Financial Companies Lllp now owns 7,992 shares of the financial services provider’s stock worth $112,000 after purchasing an additional 2,373 shares during the last quarter. Finally, CIBC Private Wealth Group LLC acquired a new position in Park Hotels & Resorts during the 4th quarter valued at approximately $112,000. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

About Park Hotels & Resorts

Park Hotels & Resorts, Inc operates as a real estate investment trust, which owns and operates hotels and resorts. It operates through the Consolidated Hotels and Unconsolidated Hotels segments. Its portfolio of hotels and resorts include the Waldorf Astoria Hotels and Resorts, Conrad Hotels & Resorts, Hilton Hotels & Resorts, DoubleTree by Hilton, Embassy Suites by Hilton, Hilton Garden Inn, Hampton by Hilton, and Curio.