Park Hotels & Resorts (NYSE:PK) Updates Q2 2022 Earnings Guidance

Posted by on Jun 6th, 2022

Park Hotels & Resorts (NYSE:PK – Get Rating) issued an update on its second quarter 2022 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $0.47-$0.56 for the period. The company issued revenue guidance of -.

NYSE PK traded up $0.19 during trading on Monday, hitting $18.64. The company’s stock had a trading volume of 39,848 shares, compared to its average volume of 3,416,899. The company has a debt-to-equity ratio of 1.09, a quick ratio of 3.02 and a current ratio of 3.02. The firm has a 50 day moving average price of $18.66 and a 200 day moving average price of $18.60. Park Hotels & Resorts has a 52 week low of $15.57 and a 52 week high of $22.42.

Park Hotels & Resorts (NYSE:PK – Get Rating) last released its quarterly earnings data on Monday, May 2nd. The financial services provider reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.25). The firm had revenue of $479.00 million for the quarter, compared to the consensus estimate of $420.53 million. Park Hotels & Resorts had a negative net margin of 19.45% and a negative return on equity of 7.37%. The business’s revenue for the quarter was up 190.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.48) earnings per share. On average, equities analysts expect that Park Hotels & Resorts will post 1.16 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, April 15th. Investors of record on Thursday, March 31st were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.21%. The ex-dividend date was Wednesday, March 30th. Park Hotels & Resorts’s dividend payout ratio is -2.92%.

PK has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft boosted their price objective on Park Hotels & Resorts from $26.00 to $28.00 in a research note on Tuesday, May 3rd. Jefferies Financial Group lowered Park Hotels & Resorts from a buy rating to a hold rating and reduced their price objective for the stock from $25.00 to $19.00 in a research note on Wednesday, March 30th. TheStreet upgraded Park Hotels & Resorts from a d+ rating to a c- rating in a research report on Friday, February 18th. Truist Financial upgraded Park Hotels & Resorts from a hold rating to a buy rating and boosted their target price for the stock from $19.00 to $22.00 in a research report on Wednesday, June 1st. Finally, Zacks Investment Research upgraded Park Hotels & Resorts from a sell rating to a hold rating in a research report on Saturday, April 16th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Park Hotels & Resorts has an average rating of Hold and an average target price of $21.86.

Several hedge funds have recently bought and sold shares of PK. BlackRock Inc. boosted its position in shares of Park Hotels & Resorts by 10.5% during the fourth quarter. BlackRock Inc. now owns 29,558,302 shares of the financial services provider’s stock worth $558,060,000 after buying an additional 2,811,067 shares during the period. Goldman Sachs Group Inc. boosted its position in Park Hotels & Resorts by 87.9% during the first quarter. Goldman Sachs Group Inc. now owns 3,698,915 shares of the financial services provider’s stock valued at $72,239,000 after purchasing an additional 1,729,984 shares during the last quarter. State Street Corp boosted its position in Park Hotels & Resorts by 5.5% during the first quarter. State Street Corp now owns 12,374,294 shares of the financial services provider’s stock valued at $241,791,000 after purchasing an additional 640,877 shares during the last quarter. Vanguard Group Inc. boosted its position in Park Hotels & Resorts by 1.7% during the first quarter. Vanguard Group Inc. now owns 33,696,042 shares of the financial services provider’s stock valued at $658,084,000 after purchasing an additional 567,015 shares during the last quarter. Finally, Prudential Financial Inc. boosted its position in Park Hotels & Resorts by 20.0% during the first quarter. Prudential Financial Inc. now owns 3,356,983 shares of the financial services provider’s stock valued at $65,562,000 after purchasing an additional 558,927 shares during the last quarter. 90.60% of the stock is owned by institutional investors.

Park Hotels & Resorts Company Profile (Get Rating)

Park is the second largest publicly traded lodging REIT with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio currently consists of 60 premium-branded hotels and resorts with over 33,000 rooms primarily located in prime city center and resort locations.

See Also

Earnings History and Estimates for Park Hotels & Resorts (NYSE:PK)

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