Park Hotels & Resorts Inc. (NYSE:PK) Receives $11.10 Average PT from Brokerages

by · The Cerbat Gem

Park Hotels & Resorts Inc. (NYSE:PK – Get Free Report) has earned an average recommendation of “Reduce” from the eleven analysts that are covering the company, MarketBeat reports. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $11.00.

PK has been the topic of several research analyst reports. Citigroup cut Park Hotels & Resorts from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $13.00 to $12.00 in a research report on Tuesday, September 9th. Cantor Fitzgerald started coverage on Park Hotels & Resorts in a research note on Wednesday, October 1st. They set a “neutral” rating and a $12.00 target price on the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of Park Hotels & Resorts in a report on Tuesday, November 25th. UBS Group increased their price target on shares of Park Hotels & Resorts from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Monday, October 6th. Finally, Wells Fargo & Company lowered 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 report on Monday.

Get Our Latest Report on PK

Park Hotels & Resorts Trading Down 2.1%

NYSE:PK opened at $10.60 on Friday. Park Hotels & Resorts has a 52 week low of $8.27 and a 52 week high of $16.23. The firm has a 50-day moving average price of $10.79 and a two-hundred day moving average price of $10.87. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market cap of $2.12 billion, a price-to-earnings ratio of -151.36 and a beta of 1.45.

Park Hotels & Resorts (NYSE:PK – Get Free Report) last announced its earnings results on Thursday, October 30th. The financial services provider reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.08). The business had revenue of $610.00 million during the quarter, compared to analysts’ expectations of $617.05 million. Park Hotels & Resorts had a negative return on equity of 1.25% and a negative net margin of 0.47%.Park Hotels & Resorts’s quarterly revenue was down 6.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.49 EPS. Park Hotels & Resorts has set its FY 2025 guidance at 1.850-1.970 EPS. On average, equities analysts expect that Park Hotels & Resorts will post 2.11 earnings per share for the current fiscal year.

Park Hotels & Resorts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.4%. The ex-dividend date of this dividend is Wednesday, December 31st. Park Hotels & Resorts’s payout ratio is -1,428.57%.

Hedge Funds Weigh In On Park Hotels & Resorts

Several institutional investors and hedge funds have recently bought and sold shares of the company. Cetera Investment Advisers lifted its position in shares of Park Hotels & Resorts by 10.7% during the 1st quarter. Cetera Investment Advisers now owns 14,999 shares of the financial services provider’s stock valued at $160,000 after buying an additional 1,455 shares during the last quarter. LPL Financial LLC raised its stake in Park Hotels & Resorts by 34.5% in the 1st quarter. LPL Financial LLC now owns 508,004 shares of the financial services provider’s stock valued at $5,425,000 after acquiring an additional 130,399 shares during the period. Mackenzie Financial Corp raised its stake in Park Hotels & Resorts by 10.6% in the 1st quarter. Mackenzie Financial Corp now owns 12,905 shares of the financial services provider’s stock valued at $138,000 after acquiring an additional 1,239 shares during the period. Jefferies Financial Group Inc. purchased a new stake in Park Hotels & Resorts during the first quarter valued at about $682,000. Finally, CM Management LLC boosted its position in Park Hotels & Resorts by 33.3% during the first quarter. CM Management LLC now owns 200,000 shares of the financial services provider’s stock worth $2,136,000 after purchasing an additional 50,000 shares during the period. 92.69% of the stock is owned by institutional investors.

About Park Hotels & Resorts

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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.

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