Park Hotels & Resorts Inc. (NYSE:PK) Receives Consensus Rating of "Hold" from Brokerages

Key Points

• Park Hotels & Resorts Inc. has received an average consensus rating of "Hold" from eleven analysts, with two sell ratings, six hold ratings, and three buy ratings.
• The company's stock has a current market price of $11.21 and a twelve-month earnings prediction of $2.11 EPS for the current year.
• Park Hotels recently announced a quarterly dividend of $0.25 per share, resulting in a dividend yield of 8.92%.

Park Hotels & Resorts Inc. (NYSE:PK - Get Free Report) has been given a consensus recommendation of "Hold" by the eleven brokerages that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $12.11.

A number of analysts have issued reports on PK shares. Wall Street Zen downgraded shares of Park Hotels & Resorts from a "hold" rating to a "sell" rating in a report on Friday, July 18th. Morgan Stanley reaffirmed an "outperform" rating on shares of Park Hotels & Resorts in a report on Tuesday, July 15th. Wells Fargo & Company increased their price target on Park Hotels & Resorts from $10.00 to $11.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 1st. Bank of America downgraded Park Hotels & Resorts from a "neutral" rating to an "underperform" rating and set a $11.00 price objective on the stock. in a research note on Wednesday, April 30th. Finally, JPMorgan Chase & Co. began coverage on shares of Park Hotels & Resorts in a report on Monday, June 23rd. They issued an "underweight" rating and a $10.00 target price for the company.

Hedge Funds Weigh In On Park Hotels & Resorts

A number of institutional investors have recently modified their holdings of the stock. UMB Bank n.a. raised its position 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 in the last quarter. Quarry LP purchased a new position in shares of Park Hotels & Resorts during the fourth quarter valued at $35,000. Versant Capital Management Inc raised its holdings in shares of Park Hotels & Resorts by 11,039.1% in the first quarter. Versant Capital Management Inc now owns 2,562 shares of the financial services provider's stock valued at $27,000 after acquiring an additional 2,539 shares in the last quarter. IFP Advisors Inc lifted its stake in Park Hotels & Resorts by 469.0% in the second quarter. IFP Advisors Inc now owns 3,465 shares of the financial services provider's stock worth $35,000 after acquiring an additional 2,856 shares during the period. Finally, GF Fund Management CO. LTD. bought a new position in Park Hotels & Resorts during the 4th quarter worth about $53,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

Park Hotels & Resorts Stock Performance

Park Hotels & Resorts stock traded down $0.06 during midday trading on Friday, hitting $11.16. The stock had a trading volume of 2,784,203 shares, compared to its average volume of 4,197,323. Park Hotels & Resorts has a 52-week low of $8.27 and a 52-week high of $16.23. The company has a market capitalization of $2.23 billion, a PE ratio of 18.92 and a beta of 1.72. The firm's fifty day moving average is $10.56 and its two-hundred day moving average is $11.23. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.33.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last released its earnings results on Monday, May 5th. The financial services provider reported $0.46 earnings per share for the quarter, beating analysts' consensus estimates of $0.41 by $0.05. Park Hotels & Resorts had a net margin of 4.90% and a return on equity of 2.65%. The company 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 company earned $0.52 EPS. Park Hotels & Resorts's revenue for the quarter was down 1.4% on a year-over-year basis. On average, research analysts forecast that Park Hotels & Resorts will post 2.11 EPS for the current year.

Park Hotels & Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.96%. The ex-dividend date was Monday, June 30th. Park Hotels & Resorts's payout ratio is presently 169.49%.

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.