Park Hotels & Resorts (NYSE:PK) Stock Price Crosses Above 50-Day Moving Average - Here's What Happened

Key Points

• Park Hotels & Resorts shares moved above their 50-day moving average, trading as high as $15.92 versus the average of $15.68, and last traded at $15.724.
• The company reported quarterly EPS of -$0.10, missing the $0.02 consensus estimate, while revenue of $602 million was roughly in line with expectations and down 1.3% year over year.
• Analysts’ consensus rating is Hold, with a $16.64 average price target. The company also announced a $0.25 quarterly dividend, equivalent to a 6.4% yield.

Shares of Park Hotels & Resorts Inc. (NYSE:PK - Get Free Report) passed above its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $15.68 and traded as high as $15.92. Park Hotels & Resorts shares last traded at $15.7240, with a volume of 4,323,658 shares.

Analyst Ratings Changes

Several research firms recently issued reports on PK. Barclays raised their target price on Park Hotels & Resorts from $12.00 to $14.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 27th. UBS Group raised Park Hotels & Resorts from a "neutral" rating to a "hold" rating in a research report on Monday, September 28th. Weiss Ratings upgraded shares of Park Hotels & Resorts from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, October 23rd. BMO Capital Markets upgraded Park Hotels & Resorts from a "market perform" rating to an "outperform" rating and raised their target price for the company from $14.00 to $18.00 in a research note on Tuesday, September 1st. Finally, Cantor Fitzgerald increased their price target on Park Hotels & Resorts from $12.00 to $15.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 11th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Park Hotels & Resorts has a consensus rating of "Hold" and a consensus price target of $16.64.

Park Hotels & Resorts Price Performance

The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 1.29. The stock has a market cap of $3.17 billion, a P/E ratio of -18.50 and a beta of 1.41. The firm's fifty day moving average price is $15.68 and its 200-day moving average price is $13.36.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last posted its earnings results on Wednesday, November 4th. The financial services provider reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.12). Park Hotels & Resorts had a negative return on equity of 5.23% and a negative net margin of 6.41%. The firm had revenue of $602.00 million for the quarter, compared to analysts' expectations of $601.95 million. During the same period in the previous year, the company earned $0.35 earnings per share. The company's revenue was down 1.3% compared to the same quarter last year. Analysts forecast that Park Hotels & Resorts Inc. will post 1.87 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 Friday, January 15th. Stockholders of record on Thursday, December 31st will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, December 31st. This represents a $1.00 annualized dividend and a dividend yield of 6.4%. Park Hotels & Resorts's payout ratio is presently -120.48%.

Institutional Investors Weigh In On Park Hotels & Resorts

A number of institutional investors have recently modified their holdings of PK. Global Retirement Partners LLC purchased a new stake in shares of Park Hotels & Resorts during the 2nd quarter valued at $25,000. Fifth Third Bancorp raised its holdings in 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 worth $27,000 after purchasing an additional 1,061 shares in the last quarter. Nykredit A S bought a new stake in shares of Park Hotels & Resorts in the 2nd quarter worth about $67,000. IFP Advisors Inc lifted its position in shares of Park Hotels & Resorts by 182.5% in the second quarter. IFP Advisors Inc now owns 5,065 shares of the financial services provider's stock valued at $72,000 after acquiring an additional 3,272 shares in the last quarter. Finally, Allworth Financial LP purchased a new stake in shares of Park Hotels & Resorts during the second quarter worth approximately $73,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Park Hotels & Resorts Company Profile

Park Hotels & Resorts Inc NYSE: PK is a real estate investment trust focused on owning and operating hotels and resorts. The company's portfolio includes full-service properties in major business and leisure destinations, with hotels operating under Hilton brands as well as other nationally recognized and independent brands.

Park's properties provide lodging, food and beverage, meeting and event facilities, and other hospitality services. Its hotels are located primarily in the United States, including gateway cities, convention markets, and resort destinations.

Park Hotels & Resorts was formed in 2017 through a spin-off from Hilton Worldwide Holdings.

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