Park Hotels & Resorts Inc. (NYSE:PK) Receives $11.27 Average Price Target from Analysts

by · The Markets Daily

Park Hotels & Resorts Inc. (NYSE:PK – Get Free Report) has received a consensus recommendation of “Reduce” from the thirteen ratings firms that are covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $11.2727.

PK has been the topic of several analyst reports. Morgan Stanley set a $10.00 target price on Park Hotels & Resorts in a report on Friday, January 16th. Truist Financial dropped their price target on Park Hotels & Resorts from $12.00 to $11.00 and set a “hold” rating for the company in a research note on Tuesday, February 3rd. Weiss Ratings cut shares of Park Hotels & Resorts from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, February 23rd. Wells Fargo & Company reduced their price objective on shares of Park Hotels & Resorts from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Monday, December 1st. Finally, Cantor Fitzgerald raised their target price on shares of Park Hotels & Resorts from $11.00 to $12.00 and gave the company a “neutral” rating in a report on Tuesday, March 3rd.

Read Our Latest Report on PK

Park Hotels & Resorts Trading Down 1.7%

Shares of PK stock opened at $10.20 on Monday. The stock has a market cap of $2.04 billion, a P/E ratio of -7.13 and a beta of 1.40. Park Hotels & Resorts has a 1 year low of $8.27 and a 1 year high of $12.39. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 1.25. The stock has a 50 day simple moving average of $11.19 and a 200 day simple moving average of $11.07.

Park Hotels & Resorts (NYSE:PK – Get Free Report) last posted its quarterly earnings data on Thursday, February 19th. The financial services provider reported ($1.04) EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($1.50). The company had revenue of $629.00 million for the quarter, compared to the consensus estimate of $621.79 million. Park Hotels & Resorts had a negative return on equity of 8.56% and a negative net margin of 11.14%.Park Hotels & Resorts’s revenue was up .6% on a year-over-year basis. During the same quarter last year, the business earned $0.39 EPS. Park Hotels & Resorts has set its FY 2026 guidance at 1.730-1.89 EPS. On average, research analysts predict that Park Hotels & Resorts will post 2.11 earnings per share for the current fiscal year.

Park Hotels & Resorts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, March 31st. This represents a $1.00 annualized dividend and a dividend yield of 9.8%. Park Hotels & Resorts’s dividend payout ratio (DPR) is currently -69.93%.

Insider Transactions at Park Hotels & Resorts

In other news, Director Christie B. Kelly acquired 2,949 shares of the stock in a transaction on Wednesday, January 14th. The stock was acquired at an average cost of $11.19 per share, for a total transaction of $32,999.31. Following the completion of the transaction, the director directly owned 150,501 shares in the company, valued at approximately $1,684,106.19. This trade represents a 2.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 1.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Park Hotels & Resorts

Large investors have recently modified their holdings of the business. Sculptor Capital LP raised its stake in Park Hotels & Resorts by 154.1% during the second quarter. Sculptor Capital LP now owns 6,534,153 shares of the financial services provider’s stock worth $66,844,000 after acquiring an additional 3,962,304 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Park Hotels & Resorts by 76.7% in the second quarter. AQR Capital Management LLC now owns 7,744,912 shares of the financial services provider’s stock worth $79,230,000 after acquiring an additional 3,361,382 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Park Hotels & Resorts by 34.6% in the 2nd quarter. Bank of America Corp DE now owns 12,870,552 shares of the financial services provider’s stock valued at $131,666,000 after purchasing an additional 3,309,275 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Park Hotels & Resorts in the 3rd quarter valued at approximately $20,905,000. Finally, Donald Smith & CO. Inc. grew its holdings 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 purchasing an additional 1,813,338 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

About Park Hotels & Resorts

(Get Free Report)

Park Hotels & Resorts Inc is a publicly traded real estate investment trust (REIT) specializing in luxury and upper-upscale hospitality properties. The company’s primary business activity involves owning and leasing premier hotels and resorts across major urban and resort destinations. Through long-term management and franchise agreements with leading hotel operators, Park generates revenue from room nights, food and beverage offerings, meetings and events, and ancillary services.

Since its spin-off from Hilton Worldwide in January 2017, Park Hotels & Resorts has assembled a diversified portfolio of more than 60 properties.

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