Park Hotels & Resorts (NYSE:PK) Upgraded by StockNews.com to Hold Rating

StockNews.com upgraded shares of Park Hotels & Resorts (NYSE:PK) from a sell rating to a hold rating in a research report released on Tuesday.

A number of other equities research analysts have also recently issued reports on the company. UBS Group upped their price objective on Park Hotels & Resorts from $14.00 to $15.00 and gave the stock a “neutral” rating in a research note on Monday, November 18th. Bank of America dropped their price target on shares of Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating on the stock in a research report on Monday, October 21st. Compass Point decreased their price objective on shares of Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Wells Fargo & Company upped their target price on shares of Park Hotels & Resorts from $16.00 to $17.00 and gave the company an “equal weight” rating in a report on Monday, December 9th. Finally, Jefferies Financial Group cut their target price on shares of Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $18.65.

Park Hotels & Resorts Stock Down 0.4 %

Shares of PK stock opened at $13.68 on Tuesday. The firm’s fifty day moving average price is $14.62 and its two-hundred day moving average price is $14.52. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 1.24. Park Hotels & Resorts has a 1 year low of $13.22 and a 1 year high of $18.05. The firm has a market capitalization of $2.82 billion, a P/E ratio of 8.71, a PEG ratio of 5.69 and a beta of 2.02.

Park Hotels & Resorts (NYSE:PK) last released its earnings results on Tuesday, October 29th. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.21). Park Hotels & Resorts had a net margin of 12.66% and a return on equity of 9.63%. The company had revenue of $649.00 million during the quarter, compared to analyst estimates of $646.15 million. During the same period in the prior year, the firm posted $0.51 EPS. Park Hotels & Resorts’s revenue was down 4.4% compared to the same quarter last year. On average, equities analysts predict that Park Hotels & Resorts will post 1.97 EPS for the current fiscal year.

Park Hotels & Resorts Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 19.01%. The ex-dividend date of this dividend was Tuesday, December 31st. This is a boost from Park Hotels & Resorts’s previous quarterly dividend of $0.25. Park Hotels & Resorts’s payout ratio is currently 63.69%.

Institutional Trading of Park Hotels & Resorts

Hedge funds have recently added to or reduced their stakes in the company. AXA S.A. acquired a new stake in Park Hotels & Resorts in the 2nd quarter worth about $1,979,000. Scientech Research LLC bought a new position in shares of Park Hotels & Resorts during the second quarter worth approximately $356,000. Creative Planning raised its position in shares of Park Hotels & Resorts by 39.0% in the second quarter. Creative Planning now owns 26,190 shares of the financial services provider’s stock valued at $392,000 after buying an additional 7,348 shares in the last quarter. Quarry LP boosted its stake in shares of Park Hotels & Resorts by 82.1% in the second quarter. Quarry LP now owns 4,118 shares of the financial services provider’s stock valued at $62,000 after buying an additional 1,857 shares during the period. Finally, Truist Financial Corp grew its position in Park Hotels & Resorts by 129.1% during the second quarter. Truist Financial Corp now owns 53,318 shares of the financial services provider’s stock worth $799,000 after buying an additional 30,043 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Park Hotels & Resorts Company Profile

Park is one of the largest publicly traded lodging REITs with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio currently consists of 43 premium-branded hotels and resorts with over 26,000 rooms primarily located in prime city center and resort locations.