Park Hotels & Resorts Inc. (NYSE:PK) Announces Quarterly Dividend of $0.25

Key Points

• Park Hotels & Resorts Inc. announced a quarterly dividend of $0.25 per share, with an annualized dividend yield of 9.7%, payable on October 15th to stockholders of record as of September 30th.
• The company currently has a payout ratio of 172.4%, indicating it is relying on its balance sheet to cover its dividends, although future earnings are expected to support a reduced payout ratio of 45.2% next year.
• Park Hotels & Resorts reported a net margin of 4.90% and earnings of $0.64 per share for the last quarter, beating analysts' expectations of $0.57 per share.

Park Hotels & Resorts Inc. (NYSE:PK - Get Free Report) announced a quarterly dividend on Friday, August 1st, Wall Street Journal reports. Stockholders of record on Tuesday, September 30th will be paid a dividend of 0.25 per share by the financial services provider on Wednesday, October 15th. This represents a c) annualized dividend and a dividend yield of 9.7%. The ex-dividend date is Tuesday, September 30th.

Park Hotels & Resorts has a payout ratio of 172.4% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Park Hotels & Resorts to earn $2.21 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 45.2%.

Park Hotels & Resorts Stock Down 3.8%

NYSE:PK traded down $0.40 on Friday, hitting $10.26. The stock had a trading volume of 6,129,177 shares, compared to its average volume of 4,203,951. The business's fifty day moving average is $10.60 and its 200 day moving average is $11.19. The company has a market cap of $2.05 billion, a PE ratio of 17.39 and a beta of 1.72. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.33. Park Hotels & Resorts has a 52 week low of $8.27 and a 52 week high of $16.23.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The financial services provider reported $0.64 EPS for the quarter, beating analysts' consensus estimates of $0.57 by $0.07. The company had revenue of $672.00 million during the quarter, compared to the consensus estimate of $672.37 million. Park Hotels & Resorts had a return on equity of 2.65% and a net margin of 4.90%. Park Hotels & Resorts's revenue was down 2.0% on a year-over-year basis. During the same period last year, the business posted $0.65 earnings per share. On average, equities research analysts expect that Park Hotels & Resorts will post 2.11 EPS for the current fiscal year.

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.

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