Park Hotels & Resorts Inc. (NYSE:PK) Receives $17.72 Consensus Price Target from Brokerages

Park Hotels & Resorts Inc. (NYSE:PK) has earned a consensus rating of “Moderate Buy” from the ten research firms that are currently covering the company, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $17.72.

A number of brokerages have recently issued reports on PK. UBS Group reduced their target price on shares of 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. StockNews.com lowered Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Friday, February 21st. Truist Financial lowered their target price on Park Hotels & Resorts from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, March 21st. Jefferies Financial Group decreased their price target on Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Finally, Wells Fargo & Company lowered their price objective on Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 18th.

Institutional Investors Weigh In On Park Hotels & Resorts

Several large investors have recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Park Hotels & Resorts in the fourth quarter worth about $41,087,000. Deutsche Bank AG grew its position in shares of Park Hotels & Resorts by 809.3% in the 4th quarter. Deutsche Bank AG now owns 2,415,621 shares of the financial services provider’s stock valued at $33,988,000 after purchasing an additional 2,149,972 shares during the period. Landmark Investment Partners L.P. bought a new stake in Park Hotels & Resorts during the 4th quarter worth approximately $21,342,000. Invesco Ltd. raised its holdings in Park Hotels & Resorts by 84.0% during the 4th quarter. Invesco Ltd. now owns 2,837,917 shares of the financial services provider’s stock worth $39,929,000 after buying an additional 1,295,548 shares during the period. Finally, Donald Smith & CO. Inc. lifted its stake in Park Hotels & Resorts by 13.9% in the fourth quarter. Donald Smith & CO. Inc. now owns 9,200,125 shares of the financial services provider’s stock valued at $129,446,000 after buying an additional 1,122,839 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Stock Performance

NYSE PK opened at $10.90 on Monday. Park Hotels & Resorts has a twelve month low of $10.84 and a twelve month high of $17.87. The company has a quick ratio of 1.51, a current ratio of 1.19 and a debt-to-equity ratio of 1.27. The stock has a market cap of $2.20 billion, a P/E ratio of 10.79, a PEG ratio of 1.51 and a beta of 2.02. The company’s 50-day simple moving average is $12.48 and its 200 day simple moving average is $13.83.

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

Park Hotels & Resorts Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.25 per share. The ex-dividend date is Monday, March 31st. This represents a $1.00 annualized dividend and a dividend yield of 9.18%. Park Hotels & Resorts’s payout ratio is currently 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.