Park Hotels & Resorts Inc. (NYSE:PK) Receives Consensus Rating of “Hold” from Brokerages

Shares of Park Hotels & Resorts Inc. (NYSE:PK) have earned a consensus recommendation of “Hold” from the eleven brokerages that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $14.60.

A number of equities research analysts have weighed in on the stock. Bank of America lowered shares of Park Hotels & Resorts from a “neutral” rating to an “underperform” rating and set a $11.00 target price for the company. in a research note on Wednesday, April 30th. Evercore ISI lowered shares of Park Hotels & Resorts from an “outperform” rating to an “in-line” rating and set a $13.00 target price for the company. in a research note on Friday. Truist Financial decreased their target price on shares of Park Hotels & Resorts from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, March 21st. Jefferies Financial Group lowered shares of Park Hotels & Resorts from a “buy” rating to a “hold” rating and decreased their target price for the company from $19.00 to $10.00 in a research note on Wednesday, April 9th. Finally, Morgan Stanley decreased their target price on shares of Park Hotels & Resorts from $12.00 to $10.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 22nd.

Park Hotels & Resorts Stock Down 0.7%

Shares of Park Hotels & Resorts stock opened at $10.80 on Tuesday. 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 $2.16 billion, a PE ratio of 10.69, a price-to-earnings-growth ratio of 1.51 and a beta of 1.75. Park Hotels & Resorts has a 52-week low of $8.27 and a 52-week high of $16.42. The company has a 50-day simple moving average of $10.37 and a two-hundred day simple moving average of $12.71.

Park Hotels & Resorts (NYSE:PK) last issued its earnings results on Monday, May 5th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.05. Park Hotels & Resorts had a net margin of 8.16% and a return on equity of 5.63%. The business had revenue of $630.00 million during the quarter, compared to analysts’ expectations of $620.17 million. During the same period in the previous year, the company earned $0.52 earnings per share. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. On average, analysts anticipate that Park Hotels & Resorts will post 2.11 EPS for the current fiscal year.

Park Hotels & Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.00 annualized dividend and a dividend yield of 9.26%. Park Hotels & Resorts’s dividend payout ratio (DPR) is 169.49%.

Institutional Investors Weigh In On Park Hotels & Resorts

Hedge funds and other institutional investors have recently modified their holdings of the stock. Northeast Financial Group Inc. boosted its holdings in Park Hotels & Resorts by 34.4% in the 4th quarter. Northeast Financial Group Inc. now owns 124,674 shares of the financial services provider’s stock worth $1,754,000 after buying an additional 31,928 shares during the period. Franklin Resources Inc. boosted its holdings in Park Hotels & Resorts by 43.6% in the 3rd quarter. Franklin Resources Inc. now owns 687,580 shares of the financial services provider’s stock worth $9,936,000 after buying an additional 208,877 shares during the period. Sterling Capital Management LLC boosted its holdings in Park Hotels & Resorts by 15.8% in the 4th quarter. Sterling Capital Management LLC now owns 33,274 shares of the financial services provider’s stock worth $468,000 after buying an additional 4,533 shares during the period. Oak Thistle LLC bought a new position in Park Hotels & Resorts in the 4th quarter worth $280,000. Finally, American Century Companies Inc. boosted its holdings in Park Hotels & Resorts by 12.3% in the 4th quarter. American Century Companies Inc. now owns 16,532 shares of the financial services provider’s stock worth $233,000 after buying an additional 1,816 shares during the period. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Park Hotels & Resorts Company Profile

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.