Park Hotels & Resorts Inc. (PK) - What Are Investment Firms Thinking About This Stock?

Key Points

• Analyst sentiment is broadly neutral: 14 brokerages give Park Hotels & Resorts a consensus “Hold” rating, with an average 12-month price target of $16.82.
• Latest quarterly results missed on earnings: The company reported a loss of $0.10 per share versus expectations for $0.02 in earnings; revenue of $602 million was roughly in line with estimates and down 1.3% year over year.
• Dividend yield is 6.2%: Park announced a quarterly dividend of $0.25 per share, equivalent to $1.00 annually.

Shares of Park Hotels & Resorts Inc. (NYSE:PK - Get Free Report) have been given a consensus rating of "Hold" by the fourteen brokerages that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, eight have given a hold recommendation, three have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $16.82.

PK has been the topic of several research reports. Weiss Ratings upgraded shares of Park Hotels & Resorts from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, October 23rd. UBS Group upgraded shares of Park Hotels & Resorts from a "neutral" rating to a "hold" rating in a research note on Monday, September 28th. Deutsche Bank reissued a "buy" rating and set a $18.00 price target on shares of Park Hotels & Resorts in a report on Friday, August 14th. Wells Fargo & Company lifted their price objective on Park Hotels & Resorts from $15.00 to $16.00 and gave the stock an "equal weight" rating in a report on Monday, October 26th. Finally, Zacks Research upgraded Park Hotels & Resorts from a "hold" rating to a "strong-buy" rating in a research report on Thursday, October 29th.

Institutional Investors Weigh In On Park Hotels & Resorts

Several hedge funds and other institutional investors have recently made changes to their positions in PK. Global Retirement Partners LLC purchased a new position in shares of Park Hotels & Resorts in the second quarter worth approximately $25,000. Fifth Third Bancorp grew its position in Park Hotels & Resorts by 68.8% during the first quarter. Fifth Third Bancorp now owns 2,604 shares of the financial services provider's stock valued at $27,000 after buying an additional 1,061 shares during the period. Nykredit A S purchased a new stake in Park Hotels & Resorts during the second quarter valued at approximately $67,000. IFP Advisors Inc increased its holdings in Park Hotels & Resorts by 182.5% during the second quarter. IFP Advisors Inc now owns 5,065 shares of the financial services provider's stock valued at $72,000 after buying an additional 3,272 shares during the last quarter. Finally, Allworth Financial LP purchased a new stake in Park Hotels & Resorts during the second quarter valued at approximately $73,000. Hedge funds and other institutional investors own 92.69% of the company's stock.

Park Hotels & Resorts Stock Performance

Shares of PK stock opened at $16.19 on Friday. The company has a market capitalization of $3.27 billion, a price-to-earnings ratio of -19.05 and a beta of 1.41. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.47 and a current ratio of 1.47. Park Hotels & Resorts has a one year low of $9.84 and a one year high of $17.14. The company's 50-day moving average is $15.78 and its 200 day moving average is $13.48.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last announced its quarterly earnings data on Wednesday, November 4th. The financial services provider reported ($0.10) earnings per share for the quarter, missing analysts' consensus estimates of $0.02 by ($0.12). The firm had revenue of $602.00 million during the quarter, compared to analysts' expectations of $601.95 million. Park Hotels & Resorts had a negative return on equity of 5.45% and a negative net margin of 6.51%. Park Hotels & Resorts's revenue was down 1.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.35 earnings per share. Sell-side analysts expect that Park Hotels & Resorts will post 1.87 EPS for the current fiscal year.

Park Hotels & Resorts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Thursday, December 31st will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 6.2%. The ex-dividend date of this dividend is Thursday, December 31st. Park Hotels & Resorts's dividend payout ratio (DPR) is presently -117.65%.

About Park Hotels & Resorts

Park Hotels & Resorts Inc. is a lodging real estate investment trust that owns and manages a portfolio of hotels and resorts. Its properties are generally operated by hotel companies under well-known brands, while Park focuses on hotel ownership and asset management. The company's portfolio includes luxury and full-service properties serving business and leisure travelers. Many of its hotels operate under Hilton-affiliated brands, including Hilton, Waldorf Astoria, Conrad, DoubleTree and Embassy Suites.

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