Park Hotels & Resorts Inc. (NYSE:PK) Receives Consensus Rating of “Reduce” from Brokerages

Shares of Park Hotels & Resorts Inc. (NYSE:PK) have earned a consensus rating of “Reduce” from the eleven analysts that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $11.10.

A number of research analysts have weighed in on the stock. Evercore ISI cut their price objective on shares of Park Hotels & Resorts from $13.00 to $12.00 and set an “in-line” rating on the stock in a research report on Thursday, November 20th. Citigroup downgraded shares of Park Hotels & Resorts from a “buy” rating to a “neutral” rating and cut their price target for the company from $13.00 to $12.00 in a report on Tuesday, September 9th. Weiss Ratings reissued a “hold (c-)” rating on shares of Park Hotels & Resorts in a research note on Monday, December 22nd. Truist Financial boosted their price objective on Park Hotels & Resorts from $11.00 to $12.00 and gave the company a “hold” rating in a report on Thursday, December 4th. Finally, Wells Fargo & Company cut their price target on shares of Park Hotels & Resorts from $12.00 to $11.00 and set an “equal weight” rating on the stock in a report on Monday, December 1st.

Institutional Investors Weigh In On Park Hotels & Resorts

Several hedge funds have recently modified their holdings of the business. Danske Bank A S purchased a new stake in Park Hotels & Resorts during the third quarter worth $25,000. Parvin Asset Management LLC purchased a new stake in shares of Park Hotels & Resorts during the 2nd quarter valued at $26,000. Bessemer Group Inc. boosted its position in shares of Park Hotels & Resorts by 359.3% in the 2nd quarter. Bessemer Group Inc. now owns 3,082 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 2,411 shares in the last quarter. Advisory Services Network LLC purchased a new position in Park Hotels & Resorts during the 3rd quarter worth $34,000. Finally, IFP Advisors Inc grew its stake in Park Hotels & Resorts by 469.0% during the 2nd quarter. IFP Advisors Inc now owns 3,465 shares of the financial services provider’s stock worth $35,000 after buying an additional 2,856 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Trading Down 0.1%

PK opened at $10.86 on Wednesday. The stock has a 50-day moving average of $10.67 and a 200 day moving average of $10.92. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.37. Park Hotels & Resorts has a 12 month low of $8.27 and a 12 month high of $15.10. The firm has a market cap of $2.17 billion, a P/E ratio of -155.07 and a beta of 1.45.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings data on Thursday, October 30th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.08). The company had revenue of $610.00 million during the quarter, compared to the consensus estimate of $617.05 million. Park Hotels & Resorts had a negative net margin of 0.47% and a negative return on equity of 1.25%. Park Hotels & Resorts’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.49 earnings per share. Park Hotels & Resorts has set its FY 2025 guidance at 1.850-1.970 EPS. As a group, research analysts forecast that Park Hotels & Resorts will post 2.11 EPS for the current year.

Park Hotels & Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 9.2%. The ex-dividend date is Wednesday, December 31st. Park Hotels & Resorts’s dividend payout ratio is presently -1,428.57%.

Park Hotels & Resorts Company Profile

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.