Park Hotels & Resorts (NYSE:PK) Shares Cross Below 50 Day Moving Average – Here’s What Happened

Park Hotels & Resorts Inc. (NYSE:PK) crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $15.11 and traded as low as $14.91. Park Hotels & Resorts shares last traded at $15.0560, with a volume of 2,528,545 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on PK shares. Truist Financial raised their price target on shares of Park Hotels & Resorts from $13.00 to $17.00 and gave the company a “hold” rating in a research note on Thursday, September 10th. Wells Fargo & Company raised shares of Park Hotels & Resorts to a “hold” rating in a research note on Thursday, July 23rd. LADENBURG THALM/SH SH raised their target price on shares of Park Hotels & Resorts from $16.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, June 16th. JPMorgan Chase & Co. boosted their target price on shares of Park Hotels & Resorts from $13.00 to $14.00 and gave the stock an “underweight” rating in a research note on Monday, August 10th. Finally, BMO Capital Markets raised Park Hotels & Resorts from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $14.00 to $18.00 in a report on Tuesday, September 1st. Three analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $15.00.

Park Hotels & Resorts Stock Performance

The company’s 50-day simple moving average is $15.13 and its 200-day simple moving average is $13.13. The stock has a market capitalization of $3.03 billion, a price-to-earnings ratio of -18.10, a PEG ratio of 1.96 and a beta of 1.33. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 1.29.

Park Hotels & Resorts (NYSE:PK) last issued its quarterly earnings data on Thursday, August 6th. The financial services provider reported $0.24 earnings per share for the quarter, hitting the consensus estimate of $0.24. Park Hotels & Resorts had a negative net margin of 6.41% and a negative return on equity of 5.23%. The company had revenue of $680.00 million for the quarter, compared to analysts’ expectations of $659.68 million. During the same quarter in the previous year, the firm posted $0.64 earnings per share. Park Hotels & Resorts’s revenue for the quarter was up 1.2% on a year-over-year basis. Park Hotels & Resorts has set its FY 2026 guidance at 1.900-2.000 EPS. On average, analysts expect that Park Hotels & Resorts Inc. will post 1.83 EPS for the current year.

Park Hotels & Resorts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be given a $0.25 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.7%. Park Hotels & Resorts’s payout ratio is -120.48%.

Institutional Investors Weigh In On Park Hotels & Resorts

Large investors have recently modified their holdings of the company. Two Sigma Securities LLC bought a new position in shares of Park Hotels & Resorts during the 2nd quarter worth approximately $527,000. Advisors Capital Management LLC bought a new stake in shares of Park Hotels & Resorts in the 2nd quarter valued at $19,160,000. Jupiter Topco LLC acquired a new position in shares of Park Hotels & Resorts during the 2nd quarter valued at $4,230,000. Donald Smith & CO. Inc. lifted its position in shares of Park Hotels & Resorts by 14.2% during the 4th quarter. Donald Smith & CO. Inc. now owns 14,617,921 shares of the financial services provider’s stock valued at $152,903,000 after acquiring an additional 1,813,338 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Park Hotels & Resorts by 15,514.1% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,260,215 shares of the financial services provider’s stock worth $17,958,000 after acquiring an additional 1,252,144 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

About Park Hotels & Resorts

Park Hotels & Resorts Inc (NYSE:PK) is a lodging real estate investment trust that owns and invests in a portfolio of hotels and resorts across the United States. The company’s properties are generally located in prominent business, convention and leisure destinations and operate under well-known hospitality brands, including Hilton, Marriott and Hyatt.

Park Hotels & Resorts generates revenue primarily through the operation of its hotel properties, which provide lodging, food and beverage, meeting and event space, and other guest services.