Park Hotels & Resorts Inc. (NYSE:PK) Given Consensus Recommendation of "Hold" by Analysts

Park Hotels & Resorts Inc. (NYSE:PK - Get Free Report) has received a consensus rating of "Hold" from the eleven research firms that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $12.11.

PK has been the subject of a number of recent analyst reports. Evercore ISI lowered Park Hotels & Resorts from an "outperform" rating to an "in-line" rating and set a $13.00 target price for the company. in a report on Friday, May 16th. Truist Financial cut shares of Park Hotels & Resorts from a "buy" rating to a "hold" rating and reduced their price objective for the company from $16.00 to $11.00 in a research note on Friday, May 30th. JPMorgan Chase & Co. initiated coverage on shares of Park Hotels & Resorts in a report on Monday, June 23rd. They set an "underweight" rating and a $10.00 target price on the stock. Wells Fargo & Company increased their target price on shares of Park Hotels & Resorts from $10.00 to $11.00 and gave the stock an "equal weight" rating in a research note on Tuesday. Finally, Citigroup restated a "buy" rating on shares of Park Hotels & Resorts in a research report on Thursday, May 22nd.

Park Hotels & Resorts Stock Performance

PK stock traded up $0.17 during midday trading on Wednesday, reaching $10.82. 4,368,177 shares of the company's stock traded hands, compared to its average volume of 3,616,049. The firm has a market capitalization of $2.16 billion, a PE ratio of 18.34, a price-to-earnings-growth ratio of 1.35 and a beta of 1.72. The company has a 50-day moving average price of $10.33 and a two-hundred day moving average price of $11.69. Park Hotels & Resorts has a 52 week low of $8.27 and a 52 week high of $16.23. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.07 and a current ratio of 1.07.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $630.00 million during the quarter, compared to analysts' expectations of $620.17 million. Park Hotels & Resorts had a return on equity of 2.65% and a net margin of 4.90%. The firm's quarterly revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.52 earnings per share. As a group, equities analysts anticipate that Park Hotels & Resorts will post 2.11 EPS for the current year.

Park Hotels & Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 9.24%. The ex-dividend date is Monday, June 30th. Park Hotels & Resorts's dividend payout ratio (DPR) is currently 169.49%.

Institutional Trading of Park Hotels & Resorts

A number of hedge funds have recently made changes to their positions in PK. Bank of New York Mellon Corp lifted its stake in Park Hotels & Resorts by 26.9% during 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 lifted its position 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 buying an additional 1,089 shares during the last quarter. US Bancorp DE boosted its stake in Park Hotels & Resorts by 10.9% in the fourth quarter. US Bancorp DE now owns 14,153 shares of the financial services provider's stock worth $199,000 after buying an additional 1,392 shares in the last quarter. Metis Global Partners LLC boosted its stake in shares of 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 valued at $337,000 after purchasing an additional 2,446 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its position in Park Hotels & Resorts by 42.2% during the fourth 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. 92.69% of the stock is owned by institutional investors.

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.