Park Hotels & Resorts (NYSE:PK – Get Free Report) updated its FY 2023 earnings guidance on Friday. The company provided earnings per share guidance of 2.050-2.050 for the period, compared to the consensus earnings per share estimate of 2.010. The company issued revenue guidance of $2.7 billion-$2.7 billion, compared to the consensus revenue estimate of $2.7 billion.
Park Hotels & Resorts Trading Up 1.3 %
Shares of Park Hotels & Resorts stock opened at $15.26 on Friday. The company’s 50 day moving average is $15.77 and its 200 day moving average is $13.84. Park Hotels & Resorts has a twelve month low of $10.70 and a twelve month high of $17.37. The company has a debt-to-equity ratio of 1.14, a quick ratio of 2.41 and a current ratio of 2.41.
Park Hotels & Resorts Announces Dividend
The firm also recently declared a None dividend, which was paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th were given a $0.77 dividend. The ex-dividend date of this dividend was Thursday, December 28th. Park Hotels & Resorts’s payout ratio is presently -1,377.78%.
Analysts Set New Price Targets
Hedge Funds Weigh In On Park Hotels & Resorts
A number of institutional investors and hedge funds have recently made changes to their positions in PK. Steward Partners Investment Advisory LLC grew its position in shares of Park Hotels & Resorts by 353.7% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,055 shares of the financial services provider’s stock worth $83,000 after buying an additional 5,500 shares during the last quarter. Captrust Financial Advisors acquired a new position in shares of Park Hotels & Resorts in the 2nd quarter valued at $104,000. Franklin Resources Inc. acquired a new position in shares of Park Hotels & Resorts in the 4th quarter valued at $121,000. Toroso Investments LLC acquired a new position in shares of Park Hotels & Resorts in the 1st quarter valued at $133,000. Finally, Creative Planning acquired a new position in Park Hotels & Resorts during the fourth quarter worth $144,000. 91.40% of the stock is owned by hedge funds and other institutional investors.
About Park Hotels & Resorts
Park is one of the largest publicly-traded lodging REITs with a diverse portfolio of iconic and market-leading hotels and resorts with significant underlying real estate value. Park's portfolio currently consists of 43 premium-branded hotels and resorts (excluding the Hilton San Francisco Hotels) with over 26,000 rooms primarily located in prime city center and resort locations.
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