Park Hotels & Resorts (NYSE:PK) Sets New 12-Month Low – Time to Sell?

Park Hotels & Resorts Inc. (NYSE:PK)’s stock price hit a new 52-week low on Thursday . The company traded as low as $12.23 and last traded at $12.33, with a volume of 3043844 shares traded. The stock had previously closed at $12.35.

Analysts Set New Price Targets

PK has been the subject of a number of research reports. Compass Point decreased their target price on shares of Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. UBS Group dropped their target price on Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. Jefferies Financial Group lowered their price objective on shares of Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Wells Fargo & Company dropped their price objective on shares of Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 18th. Finally, StockNews.com downgraded shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $18.15.

Park Hotels & Resorts Price Performance

The stock has a 50 day simple moving average of $13.61 and a 200-day simple moving average of $14.28. The firm has a market cap of $2.49 billion, a PE ratio of 12.21, a price-to-earnings-growth ratio of 1.51 and a beta of 2.00. The company has a current ratio of 1.19, a quick ratio of 1.51 and a debt-to-equity ratio of 1.27.

Park Hotels & Resorts (NYSE:PK) last issued its earnings results on Wednesday, February 19th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.01). Park Hotels & Resorts had a net margin of 8.16% and a return on equity of 5.63%. The business had revenue of $625.00 million for the quarter, compared to the consensus estimate of $609.05 million. Equities analysts anticipate that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current fiscal year.

Park Hotels & Resorts Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $0.25 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.11%. Park Hotels & Resorts’s dividend payout ratio is currently 99.01%.

Institutional Trading of Park Hotels & Resorts

A number of large investors have recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. purchased a new position in shares of Park Hotels & Resorts in the third quarter valued at $33,000. Quarry LP purchased a new position in shares of Park Hotels & Resorts in the 4th quarter worth $35,000. GF Fund Management CO. LTD. bought a new stake in shares of Park Hotels & Resorts in the 4th quarter worth about $53,000. Venturi Wealth Management LLC lifted its holdings in shares of Park Hotels & Resorts by 281.6% in the 3rd quarter. Venturi Wealth Management LLC now owns 3,850 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 2,841 shares during the last quarter. Finally, Quadrant Capital Group LLC lifted its holdings in shares of Park Hotels & Resorts by 38.4% in the 4th quarter. Quadrant Capital Group LLC now owns 4,814 shares of the financial services provider’s stock valued at $68,000 after acquiring an additional 1,335 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

About Park Hotels & Resorts

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.