Park Hotels & Resorts Inc. (NYSE:PK) Receives $18.65 Average Price Target from Analysts

Shares of Park Hotels & Resorts Inc. (NYSE:PK) have received a consensus recommendation of “Moderate Buy” from the eleven research firms that are covering the stock, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $18.65.

A number of analysts have recently commented on the company. Wolfe Research downgraded Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 26th. StockNews.com lowered Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Tuesday. UBS Group lifted their target price on shares of Park Hotels & Resorts from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Monday, November 18th. Bank of America lowered 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 report on Monday, October 21st. Finally, Jefferies Financial Group cut their price objective on shares of Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, January 2nd.

Park Hotels & Resorts Stock Up 1.7 %

NYSE:PK opened at $13.78 on Wednesday. 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 twelve month low of $13.22 and a twelve month high of $18.05. The company has a market cap of $2.84 billion, a PE ratio of 8.78, a P/E/G ratio of 6.90 and a beta of 2.02. The company’s 50 day moving average is $14.85 and its two-hundred day moving average is $14.60.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.26 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $649.00 million for the quarter, compared to analysts’ expectations of $646.15 million. During the same quarter in the previous year, the firm posted $0.51 EPS. The firm’s revenue for the quarter was down 4.4% compared to the same quarter last year. Analysts anticipate that Park Hotels & Resorts will post 1.96 EPS for the current year.

Park Hotels & Resorts Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.65 dividend. This is a positive change from Park Hotels & Resorts’s previous quarterly dividend of $0.25. This represents a $2.60 annualized dividend and a yield of 18.87%. The ex-dividend date of this dividend is Tuesday, December 31st. Park Hotels & Resorts’s payout ratio is 63.69%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC grew its holdings in Park Hotels & Resorts by 0.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 79,994 shares of the financial services provider’s stock worth $1,128,000 after acquiring an additional 752 shares in the last quarter. Tidal Investments LLC increased its holdings in shares of Park Hotels & Resorts by 5.5% in the 3rd quarter. Tidal Investments LLC now owns 19,522 shares of the financial services provider’s stock valued at $275,000 after acquiring an additional 1,020 shares during the last quarter. Arizona State Retirement System raised its position in shares of Park Hotels & Resorts by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 58,940 shares of the financial services provider’s stock worth $883,000 after acquiring an additional 1,232 shares in the last quarter. Bfsg LLC raised its position in shares of Park Hotels & Resorts by 8.7% during the 3rd quarter. Bfsg LLC now owns 15,440 shares of the financial services provider’s stock worth $218,000 after acquiring an additional 1,235 shares in the last quarter. Finally, Kendall Capital Management lifted its stake in Park Hotels & Resorts by 11.0% during the second quarter. Kendall Capital Management now owns 15,095 shares of the financial services provider’s stock worth $226,000 after purchasing an additional 1,500 shares during the last quarter. 92.69% of the stock is currently 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.