Park Hotels & Resorts Inc. (NYSE:PK) Receives $17.58 Consensus PT from Analysts

Park Hotels & Resorts Inc. (NYSE:PKGet Free Report) has been assigned an average rating of “Moderate Buy” from the twelve ratings firms that are presently covering the company, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $17.83.

Several brokerages have weighed in on PK. Citigroup raised Park Hotels & Resorts from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $14.00 to $20.00 in a report on Friday, March 22nd. StockNews.com upgraded shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. Barclays lifted their target price on shares of Park Hotels & Resorts from $21.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, May 24th. Wells Fargo & Company increased their price target on Park Hotels & Resorts from $17.00 to $18.00 and gave the company an “equal weight” rating in a research note on Thursday, March 21st. Finally, Wedbush reaffirmed a “neutral” rating and set a $17.00 price objective on shares of Park Hotels & Resorts in a research note on Tuesday.

Read Our Latest Research Report on PK

Park Hotels & Resorts Trading Down 0.3 %

PK opened at $15.55 on Tuesday. Park Hotels & Resorts has a 1-year low of $11.05 and a 1-year high of $18.05. The stock has a market capitalization of $3.27 billion, a PE ratio of 35.34, a PEG ratio of 0.78 and a beta of 2.03. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 1.20. The firm has a 50-day moving average price of $16.58 and a two-hundred day moving average price of $16.05.

Park Hotels & Resorts (NYSE:PKGet Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.17). The company had revenue of $639.00 million during the quarter, compared to analyst estimates of $630.46 million. Park Hotels & Resorts had a net margin of 3.42% and a return on equity of 3.08%. As a group, equities analysts anticipate that Park Hotels & Resorts will post 2.08 earnings per share for the current fiscal year.

Park Hotels & Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, June 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.43%. Park Hotels & Resorts’s payout ratio is presently 227.28%.

Institutional Investors Weigh In On Park Hotels & Resorts

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PK. GraniteShares Advisors LLC acquired a new stake in Park Hotels & Resorts in the 4th quarter valued at about $1,469,000. Louisiana State Employees Retirement System bought a new stake in Park Hotels & Resorts during the fourth quarter worth about $903,000. Donald Smith & CO. Inc. boosted its position in shares of Park Hotels & Resorts by 36.0% during the 4th quarter. Donald Smith & CO. Inc. now owns 6,529,666 shares of the financial services provider’s stock worth $99,904,000 after acquiring an additional 1,728,921 shares in the last quarter. FMR LLC increased its stake in shares of Park Hotels & Resorts by 18.2% in the 3rd quarter. FMR LLC now owns 884,843 shares of the financial services provider’s stock valued at $10,901,000 after purchasing an additional 136,434 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in Park Hotels & Resorts by 1.1% in the third quarter. Vanguard Group Inc. now owns 33,109,654 shares of the financial services provider’s stock valued at $407,911,000 after acquiring an additional 347,812 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

About Park Hotels & Resorts

(Get Free Report

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.

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Analyst Recommendations for Park Hotels & Resorts (NYSE:PK)

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