Somewhat Positive Media Coverage Somewhat Unlikely to Impact Park Hotels & Resorts (PK) Share Price
News articles about Park Hotels & Resorts (NYSE:PK) have been trending somewhat positive on Thursday, according to Accern Sentiment. The research group identifies positive and negative media coverage by reviewing more than 20 million news and blog sources in real time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Park Hotels & Resorts earned a news impact score of 0.16 on Accern’s scale. Accern also assigned news headlines about the financial services provider an impact score of 46.0561445927912 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the near future.
Here are some of the news headlines that may have impacted Accern Sentiment’s rankings:
- Resorts, airlines and cruise operators get back to business in Florida (nationalpost.com)
- Extended Stay America : Technical Research on Lodging Equities — Ctrip.com, Hilton Worldwide, Park Hotels & Resorts, and Extended Stay America (4-traders.com)
- Park Hotels & Resorts (PK) vs. Apple Hospitality REIT (APLE) Head to Head Contrast (americanbankingnews.com)
- Park Hotels & Resorts Inc. (PK) Given Average Rating of “Hold” by Analysts (americanbankingnews.com)
Several analysts have weighed in on the company. Zacks Investment Research downgraded Park Hotels & Resorts from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Canaccord Genuity dropped their price target on Park Hotels & Resorts from $30.00 to $29.00 and set a “buy” rating on the stock in a research note on Friday, August 4th. J P Morgan Chase & Co assumed coverage on Park Hotels & Resorts in a research note on Thursday, June 15th. They set an “overweight” rating and a $30.00 price target on the stock. Evercore ISI assumed coverage on Park Hotels & Resorts in a research note on Wednesday, May 31st. They set an “outperform” rating and a $28.00 price target on the stock. Finally, Cowen and Company boosted their price target on Park Hotels & Resorts from $61.00 to $70.00 and gave the company a “market perform” rating in a research note on Tuesday, June 20th. Ten research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $34.80.
Shares of Park Hotels & Resorts (PK) traded down 0.15% during mid-day trading on Thursday, hitting $27.37. The stock had a trading volume of 1,126,009 shares. The firm has a 50 day moving average price of $27.29 and a 200 day moving average price of $26.73. The firm has a market cap of $5.88 billion and a PE ratio of 2.35. Park Hotels & Resorts has a 52-week low of $25.40 and a 52-week high of $30.74.
Park Hotels & Resorts (NYSE:PK) last posted its earnings results on Wednesday, August 2nd. The financial services provider reported $0.81 EPS for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.04. Park Hotels & Resorts had a return on equity of 7.38% and a net margin of 15.69%. The business had revenue of $733.00 million for the quarter, compared to analysts’ expectations of $716.51 million. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. Equities analysts predict that Park Hotels & Resorts will post $12.02 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.28%. The ex-dividend date of this dividend is Thursday, September 28th.
In related news, Director Stephen I. Sadove purchased 9,600 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were purchased at an average price of $25.97 per share, with a total value of $249,312.00. Following the completion of the acquisition, the director now directly owns 20,151 shares in the company, valued at approximately $523,321.47. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.25% of the company’s stock.
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About Park Hotels & Resorts
Park Hotels & Resorts Inc is a lodging real estate company. The Company has a portfolio of hotels and resorts. The Company operates through ownership segment, which includes all of its hotel properties. As of December 31, 2016, the Company’s portfolio consisted of 67 hotels and resorts with over 35,000 rooms located in the United States and international markets.
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