Park Hotels & Resorts Inc. (NYSE:PK) Given Consensus Rating of “Hold” by Brokerages

Park Hotels & Resorts Inc. (NYSE:PK) has been given an average recommendation of “Hold” by the ten research firms that are presently covering the company, Marketbeat reports. Six research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $16.39.

Several equities analysts have commented on PK shares. StockNews.com lowered shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Thursday, April 10th. Jefferies Financial Group downgraded Park Hotels & Resorts from a “buy” rating to a “hold” rating and reduced their target price for the company from $19.00 to $10.00 in a report on Wednesday, April 9th. Truist Financial lowered their price target on Park Hotels & Resorts from $18.00 to $16.00 and set a “buy” rating for the company in a report on Friday, March 21st. Wells Fargo & Company decreased their target price on Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 18th. Finally, UBS Group lowered their price objective on shares of Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating for the company in a research report on Monday, February 3rd.

Hedge Funds Weigh In On Park Hotels & Resorts

Hedge funds have recently modified their holdings of the business. MML Investors Services LLC raised its position in Park Hotels & Resorts by 55.1% during the 3rd quarter. MML Investors Services LLC now owns 24,634 shares of the financial services provider’s stock worth $347,000 after purchasing an additional 8,749 shares during the last quarter. Barclays PLC increased its stake in shares of Park Hotels & Resorts by 22.4% in the third quarter. Barclays PLC now owns 319,593 shares of the financial services provider’s stock valued at $4,507,000 after buying an additional 58,432 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of Park Hotels & Resorts during the third quarter worth about $477,000. Tidal Investments LLC lifted its stake in shares of Park Hotels & Resorts by 5.5% in the third quarter. Tidal Investments LLC now owns 19,522 shares of the financial services provider’s stock worth $275,000 after acquiring an additional 1,020 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in Park Hotels & Resorts by 43.6% in the third quarter. Franklin Resources Inc. now owns 687,580 shares of the financial services provider’s stock valued at $9,936,000 after acquiring an additional 208,877 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Park Hotels & Resorts Stock Up 3.0 %

Shares of PK opened at $9.84 on Friday. The company has a current ratio of 1.19, a quick ratio of 1.51 and a debt-to-equity ratio of 1.27. Park Hotels & Resorts has a 12 month low of $8.27 and a 12 month high of $16.95. The firm’s 50 day moving average is $11.31 and its 200-day moving average is $13.31. The stock has a market capitalization of $1.99 billion, a PE ratio of 9.74, a P/E/G ratio of 1.51 and a beta of 1.73.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.01). The company had revenue of $625.00 million during the quarter, compared to analyst estimates of $609.05 million. Park Hotels & Resorts had a net margin of 8.16% and a return on equity of 5.63%. Equities research analysts forecast that Park Hotels & Resorts will post 2.11 EPS for the current year.

Park Hotels & Resorts Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 10.17%. The ex-dividend date of this dividend was Monday, March 31st. Park Hotels & Resorts’s dividend payout ratio (DPR) is currently 99.01%.

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.