Park Hotels & Resorts (NYSE:PK) Downgraded by Zacks Research to “Strong Sell”

Zacks Research downgraded shares of Park Hotels & Resorts (NYSE:PK) from a hold rating to a strong sell rating in a report issued on Wednesday,Zacks.com reports.

A number of other analysts have also commented on PK. Weiss Ratings lowered Park Hotels & Resorts from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday. Barclays assumed coverage on Park Hotels & Resorts in a research report on Tuesday, January 6th. They set an “overweight” rating and a $13.00 target price on the stock. Wells Fargo & Company decreased their price target on Park Hotels & Resorts from $12.00 to $11.00 and set an “equal weight” rating for the company in a report on Monday, December 1st. Evercore ISI dropped their price objective on Park Hotels & Resorts from $13.00 to $12.00 and set an “in-line” rating on the stock in a research note on Thursday, November 20th. Finally, Truist Financial lifted their price objective on shares of Park Hotels & Resorts from $11.00 to $12.00 and gave the stock a “hold” rating in a report on Thursday, December 4th. Two analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $11.27.

Park Hotels & Resorts Stock Performance

PK opened at $11.49 on Wednesday. Park Hotels & Resorts has a 1-year low of $8.27 and a 1-year high of $13.93. The company has a market cap of $2.30 billion, a price-to-earnings ratio of -164.07 and a beta of 1.44. The company’s fifty day moving average price is $10.73 and its two-hundred day moving average price is $10.98. 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 (NYSE:PK) last issued its quarterly earnings data on Thursday, October 30th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.08). Park Hotels & Resorts had a negative net margin of 0.47% and a negative return on equity of 1.25%. The business had revenue of $610.00 million for the quarter, compared to analyst estimates of $617.05 million. During the same quarter in the prior year, the business earned $0.49 earnings per share. The firm’s quarterly revenue was down 6.0% compared to the same quarter last year. Park Hotels & Resorts has set its FY 2025 guidance at 1.850-1.970 EPS. On average, analysts expect that Park Hotels & Resorts will post 2.11 EPS for the current fiscal year.

Park Hotels & Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 8.7%. The ex-dividend date was Wednesday, December 31st. Park Hotels & Resorts’s dividend payout ratio (DPR) is -1,428.57%.

Institutional Investors Weigh In On Park Hotels & Resorts

Large investors have recently modified their holdings of the stock. Amundi lifted its stake in Park Hotels & Resorts by 1.9% in the first quarter. Amundi now owns 115,143 shares of the financial services provider’s stock valued at $1,119,000 after purchasing an additional 2,179 shares during the last quarter. Millennium Management LLC raised its stake in shares of Park Hotels & Resorts by 849.3% in the first quarter. Millennium Management LLC now owns 523,851 shares of the financial services provider’s stock valued at $5,595,000 after buying an additional 468,668 shares during the period. United Services Automobile Association purchased a new position in shares of Park Hotels & Resorts during the 1st quarter valued at $152,000. Empowered Funds LLC grew its stake in shares of Park Hotels & Resorts by 10.1% during the 1st quarter. Empowered Funds LLC now owns 22,380 shares of the financial services provider’s stock worth $239,000 after acquiring an additional 2,058 shares during the period. Finally, Focus Partners Wealth increased its holdings in Park Hotels & Resorts by 30.6% in the 1st quarter. Focus Partners Wealth now owns 18,646 shares of the financial services provider’s stock worth $199,000 after acquiring an additional 4,374 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

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.