Brokerages Set Park Hotels & Resorts Inc. (NYSE:PK) PT at $12.11

Park Hotels & Resorts Inc. (NYSE:PK) has been given a consensus rating of “Hold” by the eleven research firms that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $12.11.

Several brokerages have recently issued reports on PK. Evercore ISI downgraded shares of Park Hotels & Resorts from an “outperform” rating to an “in-line” rating and set a $13.00 price target for the company. in a report on Friday, May 16th. Truist Financial lowered shares of Park Hotels & Resorts from a “buy” rating to a “hold” rating and reduced their target price for the company from $16.00 to $11.00 in a research note on Friday, May 30th. Jefferies Financial Group lowered shares of Park Hotels & Resorts from a “buy” rating to a “hold” rating and dropped their price target for the company from $19.00 to $10.00 in a research note on Wednesday, April 9th. Morgan Stanley cut their price target on Park Hotels & Resorts from $12.00 to $10.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 22nd. Finally, Wells Fargo & Company increased their price objective on Park Hotels & Resorts from $10.00 to $11.00 and gave the stock an “equal weight” rating in a report on Tuesday.

Institutional Investors Weigh In On Park Hotels & Resorts

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PK. Norges Bank acquired a new position in shares of Park Hotels & Resorts during the 4th quarter valued at $41,087,000. Sculptor Capital LP bought a new position in Park Hotels & Resorts during the first quarter valued at about $27,467,000. Donald Smith & CO. Inc. grew its holdings in Park Hotels & Resorts by 25.8% during the first quarter. Donald Smith & CO. Inc. now owns 11,577,320 shares of the financial services provider’s stock worth $123,646,000 after acquiring an additional 2,377,195 shares during the period. Deutsche Bank AG raised its position in Park Hotels & Resorts by 809.3% in the fourth quarter. Deutsche Bank AG now owns 2,415,621 shares of the financial services provider’s stock worth $33,988,000 after acquiring an additional 2,149,972 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in Park Hotels & Resorts by 89.8% in the 1st quarter. AQR Capital Management LLC now owns 4,383,530 shares of the financial services provider’s stock valued at $46,378,000 after acquiring an additional 2,073,721 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Stock Performance

Shares of PK stock opened at $10.82 on Wednesday. The company has a market cap of $2.16 billion, a P/E ratio of 18.33, a PEG ratio of 1.43 and a beta of 1.72. The business has a 50 day moving average of $10.37 and a two-hundred day moving average of $11.65. Park Hotels & Resorts has a 52 week low of $8.27 and a 52 week high of $16.23. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.33.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings data on Monday, May 5th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.05. The business had revenue of $630.00 million during the quarter, compared to analyst estimates of $620.17 million. Park Hotels & Resorts had a return on equity of 2.65% and a net margin of 4.90%. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.52 EPS. As a group, 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 issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 9.25%. The ex-dividend date is Monday, June 30th. Park Hotels & Resorts’s dividend payout ratio (DPR) is presently 169.49%.

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.