Cantor Fitzgerald Begins Coverage on Park Hotels & Resorts (NYSE:PK)

Key Points

• Cantor Fitzgerald upgraded Park Hotels & Resorts to a "hold" rating, indicating a neutral outlook on the stock.
• The stock has received mixed ratings from various analysts, with two analysts giving it a Buy rating, seven a Hold rating, and two a Sell rating.
• Park Hotels & Resorts reported quarterly earnings of $0.64 per share, surpassing analysts' expectations, despite a year-over-year revenue decline of 2.0%.

Equities researchers at Cantor Fitzgerald began coverage on shares of Park Hotels & Resorts (NYSE:PK - Get Free Report) in a report released on Wednesday, Marketbeat.com reports. The brokerage set a "neutral" rating and a $12.00 price target on the financial services provider's stock. Cantor Fitzgerald's price objective suggests a potential upside of 8.55% from the stock's current price.

PK has been the topic of a number of other research reports. Wall Street Zen downgraded Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. Citigroup downgraded Park Hotels & Resorts from a "buy" rating to a "neutral" rating and lowered their price target for the company from $13.00 to $12.00 in a research report on Tuesday, September 9th. Wells Fargo & Company raised their price target on Park Hotels & Resorts from $11.00 to $12.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 27th. Morgan Stanley restated an "outperform" rating on shares of Park Hotels & Resorts in a research report on Tuesday, July 15th. Finally, JPMorgan Chase & Co. initiated coverage on Park Hotels & Resorts in a research report on Monday, June 23rd. They set an "underweight" rating and a $10.00 price target on the stock. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Park Hotels & Resorts presently has an average rating of "Hold" and an average price target of $12.18.

Park Hotels & Resorts Trading Down 0.2%

Shares of PK stock opened at $11.06 on Wednesday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.16 and a current ratio of 1.16. Park Hotels & Resorts has a 52-week low of $8.27 and a 52-week high of $16.23. The company has a market capitalization of $2.21 billion, a PE ratio of 40.95 and a beta of 1.83. The business's fifty day moving average is $11.35 and its 200 day moving average is $10.75.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The financial services provider reported $0.64 earnings per share for the quarter, beating analysts' consensus estimates of $0.57 by $0.07. Park Hotels & Resorts had a return on equity of 0.76% and a net margin of 2.25%.The business had revenue of $672.00 million for the quarter, compared to the consensus estimate of $672.37 million. During the same quarter last year, the business posted $0.65 earnings per share. The company's revenue for the quarter was down 2.0% on a year-over-year basis. Park Hotels & Resorts has set its FY 2025 guidance at 1.820-2.080 EPS. On average, equities research analysts anticipate that Park Hotels & Resorts will post 2.11 EPS for the current fiscal year.

Institutional Trading of Park Hotels & Resorts

Large investors have recently modified their holdings of the business. Spire Wealth Management grew its stake in shares of Park Hotels & Resorts by 47.1% in the first quarter. Spire Wealth Management now owns 7,625 shares of the financial services provider's stock worth $81,000 after purchasing an additional 2,440 shares during the last quarter. Strs Ohio bought a new stake in shares of Park Hotels & Resorts in the first quarter worth about $5,593,000. Parallel Advisors LLC grew its stake in shares of Park Hotels & Resorts by 374.8% in the second quarter. Parallel Advisors LLC now owns 29,843 shares of the financial services provider's stock worth $305,000 after purchasing an additional 23,558 shares during the last quarter. Caxton Associates LLP bought a new stake in shares of Park Hotels & Resorts in the first quarter worth about $324,000. Finally, Voya Investment Management LLC grew its stake in shares of Park Hotels & Resorts by 116.3% in the first quarter. Voya Investment Management LLC now owns 352,982 shares of the financial services provider's stock worth $3,770,000 after purchasing an additional 189,825 shares during the last quarter. 92.69% of the stock is owned by institutional investors.

Park Hotels & Resorts Company Profile

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.