Park Hotels & Resorts (NYSE:PK) Hits New 52-Week High - Here's Why

Key Points

• Park Hotels & Resorts hit a new 52-week high, trading as high as $15.02, driven by recent strength in the stock despite a slight intraday pullback.
• Analysts remain cautious overall: while several firms raised price targets, the stock’s consensus rating is still "Reduce" with an average target of $13.00.
• The company recently reported mixed results, missing EPS expectations but beating revenue estimates; it also pays a $0.25 quarterly dividend, equal to a 6.7% yield.

Shares of Park Hotels & Resorts Inc. (NYSE:PK - Get Free Report) hit a new 52-week high on Tuesday . The company traded as high as $15.02 and last traded at $14.8350, with a volume of 2842948 shares. The stock had previously closed at $14.88.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Cantor Fitzgerald reissued a "neutral" rating and issued a $12.00 price target on shares of Park Hotels & Resorts in a research note on Wednesday, May 13th. Truist Financial lifted their price objective on shares of Park Hotels & Resorts from $12.00 to $13.00 and gave the company a "hold" rating in a research note on Tuesday, May 26th. BMO Capital Markets reiterated a "market perform" rating and issued a $14.00 price objective on shares of Park Hotels & Resorts in a research note on Friday, June 12th. Wells Fargo & Company boosted their target price on shares of Park Hotels & Resorts from $12.00 to $15.00 and gave the company an "equal weight" rating in a research report on Thursday, June 18th. Finally, Morgan Stanley increased their target price on shares of Park Hotels & Resorts from $10.50 to $11.00 and gave the stock an "equal weight" rating in a research note on Friday. One analyst has rated the stock with a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Park Hotels & Resorts currently has an average rating of "Reduce" and an average price target of $13.00.

Park Hotels & Resorts Trading Down 0.3%

The firm has a fifty day simple moving average of $13.49 and a 200-day simple moving average of $11.91. The firm has a market cap of $2.99 billion, a P/E ratio of -13.61, a price-to-earnings-growth ratio of 2.00 and a beta of 1.33. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.25 and a quick ratio of 1.25.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The financial services provider reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.38 by ($0.33). The firm had revenue of $622.00 million during the quarter, compared to analyst estimates of $609.77 million. Park Hotels & Resorts had a negative net margin of 8.49% and a negative return on equity of 6.71%. The company's revenue was down 1.3% on a year-over-year basis. During the same period last year, the business posted $0.46 EPS. Park Hotels & Resorts has set its FY 2026 guidance at 1.740-1.900 EPS. On average, equities research analysts expect that Park Hotels & Resorts Inc. will post 1.76 earnings per share for the current year.

Park Hotels & Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $1.00 annualized dividend and a dividend yield of 6.7%. Park Hotels & Resorts's payout ratio is presently -91.74%.

Institutional Investors Weigh In On Park Hotels & Resorts

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Danske Bank A S bought a new stake in Park Hotels & Resorts during the 3rd quarter worth approximately $25,000. Fifth Third Bancorp lifted its holdings in shares of Park Hotels & Resorts by 68.8% in the first quarter. Fifth Third Bancorp now owns 2,604 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 1,061 shares in the last quarter. Advisory Services Network LLC purchased a new position in shares of Park Hotels & Resorts during the third quarter valued at approximately $34,000. Harbor Capital Advisors Inc. boosted its position in shares of Park Hotels & Resorts by 293.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 5,181 shares of the financial services provider's stock valued at $54,000 after buying an additional 3,863 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Park Hotels & Resorts by 33.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,844 shares of the financial services provider's stock valued at $61,000 after buying an additional 1,464 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

About Park Hotels & Resorts

Park Hotels & Resorts Inc is a publicly traded real estate investment trust (REIT) specializing in luxury and upper-upscale hospitality properties. The company's primary business activity involves owning and leasing premier hotels and resorts across major urban and resort destinations. Through long-term management and franchise agreements with leading hotel operators, Park generates revenue from room nights, food and beverage offerings, meetings and events, and ancillary services.

Since its spin-off from Hilton Worldwide in January 2017, Park Hotels & Resorts has assembled a diversified portfolio of more than 60 properties.

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