StockNews.com Downgrades Park Hotels & Resorts (NYSE:PK) to Sell

StockNews.com downgraded shares of Park Hotels & Resorts (NYSE:PK) from a hold rating to a sell rating in a report released on Tuesday morning.

A number of other research analysts also recently commented on the stock. Bank of America lowered their price target on shares of Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating for the company in a report on Monday, October 21st. Compass Point dropped their target price on Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Wells Fargo & Company increased their price target on Park Hotels & Resorts from $16.00 to $17.00 and gave the company an “equal weight” rating in a report on Monday, December 9th. Wolfe Research lowered shares of Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 26th. Finally, UBS Group increased their target price on shares of Park Hotels & Resorts from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Monday, November 18th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $18.65.

Park Hotels & Resorts Stock Performance

NYSE:PK opened at $13.58 on Tuesday. The stock has a 50-day moving average price of $14.85 and a 200 day moving average price of $14.60. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 1.24. Park Hotels & Resorts has a 12-month low of $13.23 and a 12-month high of $18.05. The stock has a market capitalization of $2.80 billion, a P/E ratio of 8.65, a P/E/G ratio of 6.90 and a beta of 2.02.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.21). The company had revenue of $649.00 million during the quarter, compared to the consensus estimate of $646.15 million. Park Hotels & Resorts had a net margin of 12.66% and a return on equity of 9.63%. The business’s revenue was down 4.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.51 earnings per share. Equities research analysts forecast that Park Hotels & Resorts will post 1.96 EPS for the current fiscal year.

Park Hotels & Resorts Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 19.15%. This is a boost from Park Hotels & Resorts’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Tuesday, December 31st. Park Hotels & Resorts’s payout ratio is 63.69%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PK. Donald Smith & CO. Inc. lifted its position in shares of Park Hotels & Resorts by 22.5% in the 3rd quarter. Donald Smith & CO. Inc. now owns 8,077,286 shares of the financial services provider’s stock worth $113,890,000 after purchasing an additional 1,484,295 shares during the period. AQR Capital Management LLC lifted its holdings in Park Hotels & Resorts by 287.7% during the second quarter. AQR Capital Management LLC now owns 5,252,853 shares of the financial services provider’s stock worth $77,217,000 after buying an additional 3,897,889 shares during the period. JPMorgan Chase & Co. boosted its position in Park Hotels & Resorts by 18.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,488,097 shares of the financial services provider’s stock valued at $49,182,000 after acquiring an additional 540,920 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Park Hotels & Resorts by 3.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,113,325 shares of the financial services provider’s stock valued at $46,638,000 after acquiring an additional 115,391 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Park Hotels & Resorts by 2.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,902,728 shares of the financial services provider’s stock worth $40,928,000 after acquiring an additional 66,093 shares in the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

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.