Brokerages Set Park Hotels & Resorts Inc. (NYSE:PK) PT at $12.75

Park Hotels & Resorts Inc. (NYSE:PK) has been assigned a consensus rating of “Hold” from the ten research firms that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $12.75.

A number of equities analysts have issued reports on the stock. Jefferies Financial Group lowered Park Hotels & Resorts from a “buy” rating to a “hold” rating and cut their price objective for the stock from $19.00 to $10.00 in a research report on Wednesday, April 9th. Morgan Stanley dropped 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 report on Tuesday, April 22nd. Truist Financial cut shares of Park Hotels & Resorts from a “buy” rating to a “hold” rating and cut their price objective for the stock from $16.00 to $11.00 in a report on Friday, May 30th. Wall Street Zen cut shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Thursday, April 10th. Finally, Citigroup reiterated a “buy” rating on shares of Park Hotels & Resorts in a report on Thursday, May 22nd.

Park Hotels & Resorts Stock Down 0.7%

PK stock opened at $10.55 on Friday. The stock has a 50-day simple moving average of $10.10 and a two-hundred day simple moving average of $12.24. The company has a quick ratio of 1.51, a current ratio of 1.19 and a debt-to-equity ratio of 1.27. Park Hotels & Resorts has a twelve month low of $8.27 and a twelve month high of $16.23. The firm has a market capitalization of $2.11 billion, a PE ratio of 10.45, a PEG ratio of 1.51 and a beta of 1.74.

Park Hotels & Resorts (NYSE:PK) last announced its earnings results on Monday, May 5th. The financial services provider reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.05. The business had revenue of $630.00 million for the quarter, compared to the consensus estimate of $620.17 million. Park Hotels & Resorts had a net margin of 8.16% and a return on equity of 5.63%. Park Hotels & Resorts’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period last year, the firm posted $0.52 earnings per share. On average, equities analysts predict that Park Hotels & Resorts will post 2.11 EPS for the current fiscal year.

Park Hotels & Resorts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.00 annualized dividend and a yield of 9.48%. Park Hotels & Resorts’s payout ratio is 169.49%.

Hedge Funds Weigh In On Park Hotels & Resorts

Hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC increased its holdings in Park Hotels & Resorts by 22.4% during the third quarter. Barclays PLC now owns 319,593 shares of the financial services provider’s stock valued at $4,507,000 after buying an additional 58,432 shares during the period. KBC Group NV lifted its stake in shares of Park Hotels & Resorts by 36.2% during the 4th quarter. KBC Group NV now owns 10,023 shares of the financial services provider’s stock worth $141,000 after purchasing an additional 2,663 shares during the last quarter. abrdn plc boosted its position in Park Hotels & Resorts by 66.4% during the fourth quarter. abrdn plc now owns 70,420 shares of the financial services provider’s stock valued at $995,000 after purchasing an additional 28,105 shares in the last quarter. Lecap Asset Management Ltd. purchased a new position in Park Hotels & Resorts in the fourth quarter valued at about $322,000. Finally, Wilmington Savings Fund Society FSB raised its holdings in Park Hotels & Resorts by 24.3% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 42,035 shares of the financial services provider’s stock worth $591,000 after purchasing an additional 8,216 shares in the last quarter. 92.69% of the stock is currently owned by 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.