Park Hotels & Resorts Inc. (NYSE:PK) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Park Hotels & Resorts Inc. (NYSE:PK) has earned an average recommendation of “Moderate Buy” from the twelve research firms that are covering the company, Marketbeat reports. Six equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $17.25.

Several research analysts have recently issued reports on the stock. Truist Financial lowered their target price on shares of Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday. Wedbush reaffirmed a “neutral” rating and set a $17.00 price objective on shares of Park Hotels & Resorts in a report on Tuesday, May 28th. Barclays boosted their target price on Park Hotels & Resorts from $21.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, May 24th. UBS Group dropped their price target on Park Hotels & Resorts from $18.00 to $14.00 and set a “neutral” rating on the stock in a research note on Friday, August 16th. Finally, Evercore ISI cut their price target on Park Hotels & Resorts from $20.00 to $19.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 13th.

Park Hotels & Resorts Stock Down 1.8 %

Shares of NYSE PK opened at $14.44 on Thursday. The business has a 50-day moving average of $14.62 and a two-hundred day moving average of $15.73. The company has a market capitalization of $3.02 billion, a price-to-earnings ratio of 32.82, a price-to-earnings-growth ratio of 0.74 and a beta of 2.02. Park Hotels & Resorts has a 1 year low of $11.05 and a 1 year high of $18.05. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.58 and a quick ratio of 1.58.

Park Hotels & Resorts (NYSE:PK) last posted its earnings results on Wednesday, July 31st. The financial services provider reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.30). The business had revenue of $686.00 million for the quarter, compared to analysts’ expectations of $694.94 million. Park Hotels & Resorts had a return on equity of 8.77% and a net margin of 11.50%. On average, analysts forecast that Park Hotels & Resorts will post 2.1 earnings per share for the current fiscal year.

Park Hotels & Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a $0.25 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.00 dividend on an annualized basis and a yield of 6.93%. Park Hotels & Resorts’s dividend payout ratio (DPR) is 227.28%.

Institutional Investors Weigh In On Park Hotels & Resorts

A number of institutional investors have recently added to or reduced their stakes in the business. Fidelis Capital Partners LLC acquired a new stake in shares of Park Hotels & Resorts during the 1st quarter valued at approximately $26,000. Raleigh Capital Management Inc. purchased a new stake in shares of Park Hotels & Resorts in the fourth quarter valued at $35,000. YHB Investment Advisors Inc. purchased a new position in Park Hotels & Resorts in the 1st quarter valued at about $40,000. Quarry LP boosted its position in Park Hotels & Resorts by 82.1% during the second quarter. Quarry LP now owns 4,118 shares of the financial services provider’s stock worth $62,000 after acquiring an additional 1,857 shares during the last quarter. Finally, FinTrust Capital Advisors LLC boosted its holdings in shares of Park Hotels & Resorts by 260.5% during the first quarter. FinTrust Capital Advisors LLC now owns 5,076 shares of the financial services provider’s stock worth $89,000 after purchasing an additional 3,668 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

About Park Hotels & Resorts

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.