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

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

Several brokerages have recently weighed in on PK. Wells Fargo & Company decreased their target price 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. UBS Group dropped their price target on shares of Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. StockNews.com lowered shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Friday, February 21st. Jefferies Financial Group lowered their price objective on Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Finally, Truist Financial reduced their target price on Park Hotels & Resorts from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, March 21st.

Institutional Trading of Park Hotels & Resorts

Several institutional investors have recently modified their holdings of PK. Victory Capital Management Inc. lifted its holdings in shares of Park Hotels & Resorts by 21.5% in the third quarter. Victory Capital Management Inc. now owns 109,002 shares of the financial services provider’s stock valued at $1,537,000 after purchasing an additional 19,273 shares in the last quarter. Intech Investment Management LLC increased its stake in shares of Park Hotels & Resorts by 28.1% in the third quarter. Intech Investment Management LLC now owns 136,310 shares of the financial services provider’s stock worth $1,922,000 after acquiring an additional 29,894 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Park Hotels & Resorts by 2.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,902,728 shares of the financial services provider’s stock worth $40,928,000 after acquiring an additional 66,093 shares in the last quarter. Cerity Partners LLC boosted its position in Park Hotels & Resorts by 47.1% during the third quarter. Cerity Partners LLC now owns 150,971 shares of the financial services provider’s stock valued at $2,129,000 after purchasing an additional 48,308 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its stake in Park Hotels & Resorts by 6.8% in the third quarter. Daiwa Securities Group Inc. now owns 77,369 shares of the financial services provider’s stock valued at $1,091,000 after purchasing an additional 4,936 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Park Hotels & Resorts Price Performance

PK opened at $11.28 on Monday. Park Hotels & Resorts has a 1 year low of $10.87 and a 1 year high of $17.87. The company’s 50 day simple moving average is $12.59 and its 200 day simple moving average is $13.87. The stock has a market capitalization of $2.28 billion, a PE ratio of 11.16, a P/E/G ratio of 1.51 and a beta of 2.02. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.51 and a current ratio of 1.19.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.01). Park Hotels & Resorts had a return on equity of 5.63% and a net margin of 8.16%. The firm had revenue of $625.00 million during the quarter, compared to analysts’ expectations of $609.05 million. As a group, sell-side analysts expect that Park Hotels & Resorts will post 2.11 EPS for the current 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 issued a dividend of $0.25 per share. The ex-dividend date is Monday, March 31st. This represents a $1.00 annualized dividend and a yield of 8.87%. Park Hotels & Resorts’s payout ratio is 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.