Shares of Park Hotels & Resorts Inc. (NYSE:PK - Get Free Report) have been given a consensus recommendation of "Hold" by the eleven brokerages that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $14.60.
A number of brokerages have recently commented on PK. Truist Financial dropped their target price on shares of Park Hotels & Resorts from $18.00 to $16.00 and set a "buy" rating on the stock in a report on Friday, March 21st. Wells Fargo & Company dropped their target price on shares of Park Hotels & Resorts from $17.00 to $14.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 18th. Jefferies Financial Group lowered Park Hotels & Resorts from a "buy" rating to a "hold" rating and lowered their price target for the stock from $19.00 to $10.00 in a research report on Wednesday, April 9th. Evercore ISI lowered Park Hotels & Resorts from an "outperform" rating to an "in-line" rating and set a $13.00 price target for the company. in a research report on Friday. Finally, Bank of America lowered Park Hotels & Resorts from a "neutral" rating to an "underperform" rating and set a $11.00 price target for the company. in a research report on Wednesday, April 30th.
Check Out Our Latest Stock Analysis on Park Hotels & Resorts
Hedge Funds Weigh In On Park Hotels & Resorts
A number of hedge funds have recently bought and sold shares of PK. UMB Bank n.a. raised its position in Park Hotels & Resorts by 140.9% in the 1st quarter. UMB Bank n.a. now owns 2,385 shares of the financial services provider's stock worth $25,000 after buying an additional 1,395 shares during the last quarter. Versant Capital Management Inc raised its position in Park Hotels & Resorts by 11,039.1% in 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. Quarry LP purchased a new position in Park Hotels & Resorts in the 4th quarter worth about $35,000. GF Fund Management CO. LTD. purchased a new position in Park Hotels & Resorts in the 4th quarter worth about $53,000. Finally, GAMMA Investing LLC raised its position in Park Hotels & Resorts by 401.2% in the 1st quarter. GAMMA Investing LLC now owns 5,283 shares of the financial services provider's stock worth $56,000 after buying an additional 4,229 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company's stock.
Park Hotels & Resorts Trading Up 0.4%
NYSE:PK traded up $0.05 during trading hours on Tuesday, hitting $10.88. The company had a trading volume of 3,553,985 shares, compared to its average volume of 3,425,622. The company has a market capitalization of $2.17 billion, a PE ratio of 10.77, a price-to-earnings-growth ratio of 1.51 and a beta of 1.75. The stock has a 50-day moving average price of $10.38 and a 200 day moving average price of $12.73. Park Hotels & Resorts has a 52 week low of $8.27 and a 52 week high of $16.42. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.19 and a quick ratio of 1.51.
Park Hotels & Resorts (NYSE:PK - Get Free Report) last announced its earnings results on Monday, May 5th. The financial services provider reported $0.46 EPS for the quarter, beating analysts' consensus estimates of $0.41 by $0.05. Park Hotels & Resorts had a net margin of 8.16% and a return on equity of 5.63%. The firm had revenue of $630.00 million for the quarter, compared to analysts' expectations of $620.17 million. During the same quarter in the previous year, the business posted $0.52 EPS. The company's quarterly revenue was down 1.4% on a year-over-year basis. On average, equities research analysts predict that Park Hotels & Resorts will post 2.11 EPS for the current fiscal year.
Park Hotels & Resorts Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 9.19%. The ex-dividend date is Monday, June 30th. Park Hotels & Resorts's dividend payout ratio (DPR) is 169.49%.
About Park Hotels & Resorts
(
Get Free ReportPark 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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