Analysts Set Park Hotels & Resorts Inc. (NYSE:PK) Price Target at $12.11

Park Hotels & Resorts Inc. (NYSE:PK - Get Free Report) has earned an average recommendation of "Hold" from the eleven analysts that are covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $12.11.

A number of brokerages have recently commented on PK. Wells Fargo & Company boosted their price objective on shares of Park Hotels & Resorts from $10.00 to $11.00 and gave the stock an "equal weight" rating in a research report on Tuesday. Citigroup reissued a "buy" rating on shares of Park Hotels & Resorts in a research report on Thursday, May 22nd. Bank of America lowered shares of Park Hotels & Resorts from a "neutral" rating to an "underperform" rating and set a $11.00 price objective on the stock. in a research report on Wednesday, April 30th. Jefferies Financial Group lowered shares of Park Hotels & Resorts from a "buy" rating to a "hold" rating and dropped their price target for the stock from $19.00 to $10.00 in a research report on Wednesday, April 9th. Finally, Morgan Stanley dropped their price objective on shares of Park Hotels & Resorts from $12.00 to $10.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd.

Park Hotels & Resorts Price Performance

Shares of PK stock traded up $0.02 during mid-day trading on Wednesday, reaching $10.82. The company's stock had a trading volume of 1,958,126 shares, compared to its average volume of 3,631,861. Park Hotels & Resorts has a 1-year low of $8.27 and a 1-year high of $16.23. The company has a market cap of $2.16 billion, a P/E ratio of 18.33, a PEG ratio of 1.43 and a beta of 1.72. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.07 and a current ratio of 1.07. The firm's 50-day moving average is $10.39 and its two-hundred day moving average is $11.62.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The financial services provider reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.05. The firm had revenue of $630.00 million during the quarter, compared to analysts' expectations of $620.17 million. Park Hotels & Resorts had a net margin of 4.90% and a return on equity of 2.65%. The company's quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.52 EPS. On average, research analysts predict that Park Hotels & Resorts will post 2.11 earnings per share for the current year.

Park Hotels & Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, June 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.25%. Park Hotels & Resorts's dividend payout ratio is presently 169.49%.

Hedge Funds Weigh In On Park Hotels & Resorts

A number of institutional investors have recently added to or reduced their stakes in PK. Bank of New York Mellon Corp boosted its position in Park Hotels & Resorts by 26.9% in the fourth quarter. Bank of New York Mellon Corp now owns 2,443,752 shares of the financial services provider's stock worth $34,384,000 after purchasing an additional 518,727 shares during the last quarter. Amalgamated Bank increased its stake in Park Hotels & Resorts by 1.1% in the 4th quarter. Amalgamated Bank now owns 98,223 shares of the financial services provider's stock worth $1,382,000 after acquiring an additional 1,089 shares during the last quarter. US Bancorp DE increased its stake in Park Hotels & Resorts by 10.9% in the 4th quarter. US Bancorp DE now owns 14,153 shares of the financial services provider's stock worth $199,000 after acquiring an additional 1,392 shares during the last quarter. Metis Global Partners LLC increased its stake in Park Hotels & Resorts by 11.4% in the 4th quarter. Metis Global Partners LLC now owns 23,960 shares of the financial services provider's stock worth $337,000 after acquiring an additional 2,446 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its holdings in Park Hotels & Resorts by 42.2% during the 4th quarter. Jones Financial Companies Lllp now owns 7,992 shares of the financial services provider's stock valued at $112,000 after buying an additional 2,373 shares during the period. Institutional investors own 92.69% of the company's stock.

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.