FY2022 EPS Estimates for Park Hotels & Resorts Inc. Raised by Jefferies Financial Group (NYSE:PK)

Park Hotels & Resorts Inc. (NYSE:PK – Get Rating) – Stock analysts at Jefferies Financial Group raised their FY2022 earnings estimates for shares of Park Hotels & Resorts in a research note issued on Thursday, January 5th. Jefferies Financial Group analyst D. Katz now expects that the financial services provider will earn $1.45 per share for the year, up from their prior estimate of $1.40. The consensus estimate for Park Hotels & Resorts’ current full-year earnings is $1.43 per share.

A number of other research analysts have also issued reports on the company. Deutsche Bank Aktiengesellschaft lowered their target price on Park Hotels & Resorts from $26.00 to $21.00 and set a “buy” rating on the stock in a report on Tuesday, October 25th. StockNews.com began coverage on Park Hotels & Resorts in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Compass Point decreased their price objective on Park Hotels & Resorts to $25.00 in a research report on Tuesday, November 15th. Morgan Stanley started coverage on Park Hotels & Resorts in a research note on Monday, December 5th. They issued an “equal weight” rating and a $15.00 price target for the company. Finally, Truist Financial lowered their price target on Park Hotels & Resorts to $20.00 in a research note on Wednesday, November 16th. Nine equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $19.13.

Park Hotels & Resorts Price Performance

Shares of NYSE PK opened at $11.94 on Monday. Park Hotels & Resorts has a fifty-two week low of $10.92 and a fifty-two week high of $20.58. The firm’s 50-day simple moving average is $12.11 and its 200 day simple moving average is $13.18. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.08. The stock has a market cap of $2.68 billion, a P/E ratio of 41.17 and a beta of 1.89.

Park Hotels & Resorts (NYSE:PK – Get Rating) last issued its quarterly earnings data on Wednesday, November 2nd. The financial services provider reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.23). Park Hotels & Resorts had a net margin of 2.67% and a return on equity of 1.41%. The firm had revenue of $662.00 million during the quarter, compared to analyst estimates of $651.62 million.

Park Hotels & Resorts Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 17th. Investors of record on Friday, December 30th will be given a dividend of $0.25 per share. This is a positive change from Park Hotels & Resorts’s previous quarterly dividend of $0.01. The ex-dividend date is Thursday, December 29th. This represents a $1.00 annualized dividend and a dividend yield of 8.38%. Park Hotels & Resorts’s dividend payout ratio is presently 344.83%.

Insiders Place Their Bets

In related news, Director Geoffrey Garrett sold 3,000 shares of the stock in a transaction that occurred on Friday, December 16th. The stock was sold at an average price of $11.86, for a total transaction of $35,580.00. Following the completion of the sale, the director now directly owns 33,604 shares of the company’s stock, valued at $398,543.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.09% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PK. First Trust Advisors LP raised its holdings in Park Hotels & Resorts by 1.5% in the 1st quarter. First Trust Advisors LP now owns 47,964 shares of the financial services provider’s stock worth $937,000 after acquiring an additional 686 shares during the last quarter. Synovus Financial Corp boosted its holdings in shares of Park Hotels & Resorts by 3.8% during the 2nd quarter. Synovus Financial Corp now owns 21,454 shares of the financial services provider’s stock valued at $291,000 after purchasing an additional 789 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Park Hotels & Resorts by 2.0% during the 2nd quarter. Victory Capital Management Inc. now owns 53,163 shares of the financial services provider’s stock valued at $721,000 after purchasing an additional 1,045 shares during the last quarter. Great West Life Assurance Co. Can lifted its holdings in shares of Park Hotels & Resorts by 0.3% in the 3rd quarter. Great West Life Assurance Co. Can now owns 337,971 shares of the financial services provider’s stock valued at $3,804,000 after acquiring an additional 1,091 shares during the last quarter. Finally, Federated Hermes Inc. lifted its holdings in shares of Park Hotels & Resorts by 3.9% in the 1st quarter. Federated Hermes Inc. now owns 30,799 shares of the financial services provider’s stock valued at $602,000 after acquiring an additional 1,147 shares during the last quarter. Hedge funds and other institutional investors own 89.42% of the company’s stock.

Park Hotels & Resorts Company Profile

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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.