Park Hotels & Resorts Inc. (NYSE:PK) Receives $18.15 Average PT from Analysts

Park Hotels & Resorts Inc. (NYSE:PK) has been given an average rating of “Moderate Buy” by the eleven brokerages that are presently covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $18.15.

PK has been the subject of a number of research analyst reports. Jefferies Financial Group reduced their price target on Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Wells Fargo & Company lowered their price target on shares of Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 18th. UBS Group dropped their price objective on Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. Finally, StockNews.com downgraded shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Friday, February 21st.

Hedge Funds Weigh In On Park Hotels & Resorts

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

Park Hotels & Resorts Trading Down 2.2 %

NYSE:PK opened at $12.01 on Thursday. Park Hotels & Resorts has a twelve month low of $11.95 and a twelve month high of $18.05. The business has a 50 day moving average price of $13.45 and a two-hundred day moving average price of $14.24. The company has a market cap of $2.43 billion, a P/E ratio of 11.89, a price-to-earnings-growth ratio of 1.51 and a beta of 2.00. The company has a quick ratio of 1.51, a current ratio of 1.19 and a debt-to-equity ratio of 1.27.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $625.00 million during the quarter, compared to the consensus estimate of $609.05 million. As a group, analysts expect that Park Hotels & Resorts will post 2.11 EPS for the current fiscal year.

Park Hotels & Resorts Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.25 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.00 dividend on an annualized basis and a yield of 8.33%. Park Hotels & Resorts’s dividend payout ratio (DPR) is presently 99.01%.

Park Hotels & Resorts Company Profile

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.