Park Hotels & Resorts (NYSE:PK) Price Target Cut to $13.00 by Analysts at Evercore ISI

Park Hotels & Resorts (NYSE:PK - Free Report) had its price objective cut by Evercore ISI from $16.00 to $13.00 in a report released on Monday morning,Benzinga reports. They currently have an outperform rating on the financial services provider's stock.

Other research analysts have also recently issued reports about the stock. UBS Group cut their price target on shares of Park Hotels & Resorts from $15.00 to $13.00 and set a "neutral" rating on the stock in a report on Monday, February 3rd. Morgan Stanley dropped their target price on shares of Park Hotels & Resorts from $12.00 to $10.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Truist Financial decreased their price target on shares of Park Hotels & Resorts from $18.00 to $16.00 and set a "buy" rating for the company in a research note on Friday, March 21st. StockNews.com cut Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research note on Thursday, April 10th. Finally, Jefferies Financial Group downgraded Park Hotels & Resorts from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $19.00 to $10.00 in a report on Wednesday, April 9th. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $14.60.

Park Hotels & Resorts Trading Up 2.3 %

NYSE:PK traded up $0.24 during mid-day trading on Monday, hitting $10.28. 6,346,758 shares of the stock traded hands, compared to its average volume of 3,320,590. The company has a quick ratio of 1.51, a current ratio of 1.19 and a debt-to-equity ratio of 1.27. Park Hotels & Resorts has a 52 week low of $8.27 and a 52 week high of $16.58. The stock has a market capitalization of $2.07 billion, a price-to-earnings ratio of 10.17, a PEG ratio of 1.51 and a beta of 1.75. The firm's 50 day moving average is $10.68 and its two-hundred day moving average is $12.98.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last released its earnings results on Wednesday, February 19th. The financial services provider reported $0.39 EPS for the quarter, missing analysts' consensus estimates of $0.40 by ($0.01). Park Hotels & Resorts had a net margin of 8.16% and a return on equity of 5.63%. The business had revenue of $625.00 million for the quarter, compared to the consensus estimate of $609.05 million. On average, equities research analysts predict that Park Hotels & Resorts will post 2.11 earnings per share for the current year.

Park Hotels & Resorts Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 9.73%. The ex-dividend date was Monday, March 31st. Park Hotels & Resorts's dividend payout ratio (DPR) is presently 99.01%.

Institutional Trading of Park Hotels & Resorts

A number of institutional investors have recently bought and sold shares of PK. UMB Bank n.a. grew its stake in Park Hotels & Resorts by 140.9% during the 1st quarter. UMB Bank n.a. now owns 2,385 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 1,395 shares during the last quarter. Quarry LP acquired a new position in Park Hotels & Resorts in the 4th quarter worth approximately $35,000. Versant Capital Management Inc raised its position in Park Hotels & Resorts by 11,039.1% during the 1st quarter. Versant Capital Management Inc now owns 2,562 shares of the financial services provider's stock worth $27,000 after buying an additional 2,539 shares during the last quarter. GF Fund Management CO. LTD. purchased a new position in Park Hotels & Resorts during the 4th quarter worth approximately $53,000. Finally, Quadrant Capital Group LLC lifted its stake in Park Hotels & Resorts by 38.4% during the 4th quarter. Quadrant Capital Group LLC now owns 4,814 shares of the financial services provider's stock valued at $68,000 after acquiring an additional 1,335 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

About Park Hotels & Resorts

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.