Park Hotels & Resorts (NYSE:PK) Hits New 52-Week Low – Should You Sell?

Park Hotels & Resorts Inc. (NYSE:PK)’s share price hit a new 52-week low on Thursday . The company traded as low as $9.70 and last traded at $9.83, with a volume of 1039798 shares. The stock had previously closed at $10.87.

Analyst Upgrades and Downgrades

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

Park Hotels & Resorts Price Performance

The firm has a market capitalization of $1.97 billion, a P/E ratio of 9.65, a P/E/G ratio of 1.51 and a beta of 1.73. The business’s fifty day moving average is $12.31 and its 200 day moving average is $13.77. The company has a current ratio of 1.19, a quick ratio of 1.51 and a debt-to-equity ratio of 1.27.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.01). The company 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%. As a group, analysts forecast that Park Hotels & Resorts Inc. will post 2.11 EPS for the current year.

Park Hotels & Resorts Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.00 annualized dividend and a dividend yield of 10.26%. Park Hotels & Resorts’s dividend payout ratio (DPR) is presently 99.01%.

Institutional Inflows and Outflows

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

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.