Cantor Fitzgerald Issues Positive Forecast for Park Hotels & Resorts (NYSE:PK) Stock Price

Key Points

• Cantor Fitzgerald raised Park Hotels & Resorts’ price target from $12 to $15 while maintaining a neutral rating, implying roughly 3.38% upside from the current price.
• Analyst sentiment remains cautious: the stock has one Buy, ten Hold, and two Sell ratings, resulting in a MarketBeat consensus rating of “Reduce” and an average target price of $13.55.
• Park Hotels & Resorts reported quarterly EPS of $0.24, matching expectations, while revenue of $680 million exceeded forecasts and increased 1.2% year over year.

Park Hotels & Resorts (NYSE:PK - Get Free Report) had its price target lifted by Cantor Fitzgerald from $12.00 to $15.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a "neutral" rating on the financial services provider's stock. Cantor Fitzgerald's price objective points to a potential upside of 3.38% from the stock's current price.

Other equities analysts have also recently issued research reports about the stock. Wells Fargo & Company upgraded shares of Park Hotels & Resorts to a "hold" rating in a research report on Thursday, July 23rd. BMO Capital Markets reissued a "market perform" rating and issued a $14.00 target price on shares of Park Hotels & Resorts in a research note on Friday, June 12th. Weiss Ratings raised Park Hotels & Resorts from a "sell (d)" rating to a "sell (d+)" rating in a research report on Wednesday, May 20th. Barclays upped their price objective on shares of Park Hotels & Resorts from $9.00 to $12.00 and gave the stock an "equal weight" rating in a report on Monday, June 1st. Finally, Morgan Stanley raised their target price on shares of Park Hotels & Resorts from $10.50 to $11.00 and gave the stock an "equal weight" rating in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Reduce" and an average price target of $13.55.

Park Hotels & Resorts Price Performance

Park Hotels & Resorts stock opened at $14.51 on Tuesday. The stock has a market cap of $2.92 billion, a price-to-earnings ratio of -17.48, a PEG ratio of 1.95 and a beta of 1.34. The company has a quick ratio of 1.25, a current ratio of 1.53 and a debt-to-equity ratio of 1.29. The business has a 50-day simple moving average of $14.51 and a 200 day simple moving average of $12.32. Park Hotels & Resorts has a 52 week low of $9.84 and a 52 week high of $15.48.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.24. Park Hotels & Resorts had a negative return on equity of 5.23% and a negative net margin of 6.41%.The firm had revenue of $680.00 million during the quarter, compared to the consensus estimate of $659.68 million. During the same quarter last year, the company posted $0.64 EPS. The company's revenue for the quarter was up 1.2% on a year-over-year basis. On average, research analysts forecast that Park Hotels & Resorts will post 1.79 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Park Hotels & Resorts

Several institutional investors and hedge funds have recently modified their holdings of the stock. Global Retirement Partners LLC bought a new position in Park Hotels & Resorts in the 2nd quarter worth about $25,000. Danske Bank A S bought a new position in shares of Park Hotels & Resorts in the third quarter worth approximately $25,000. Fifth Third Bancorp lifted its stake in shares of Park Hotels & Resorts by 68.8% in the first quarter. Fifth Third Bancorp now owns 2,604 shares of the financial services provider's stock worth $27,000 after buying an additional 1,061 shares in the last quarter. Advisory Services Network LLC purchased a new stake in shares of Park Hotels & Resorts during the third quarter valued at approximately $34,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Park Hotels & Resorts by 33.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,844 shares of the financial services provider's stock valued at $61,000 after buying an additional 1,464 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors.

Park Hotels & Resorts Company Profile

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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