Park Hotels & Resorts (PK) Issues FY18 Earnings Guidance
Park Hotels & Resorts (NYSE:PK) updated its FY18 earnings guidance on Monday. The company provided EPS guidance of $2.74-2.90 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.74.
A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. reaffirmed an overweight rating and issued a $28.00 target price (down from $30.00) on shares of Park Hotels & Resorts in a research note on Monday, March 5th. Bank of America downgraded shares of Park Hotels & Resorts from a neutral rating to an underperform rating in a research note on Monday, March 5th. Boenning Scattergood restated a hold rating on shares of Park Hotels & Resorts in a research note on Monday, March 5th. Nomura reduced their price objective on shares of Park Hotels & Resorts from $33.00 to $30.00 and set a buy rating for the company in a research note on Thursday, March 1st. Finally, Citigroup began coverage on shares of Park Hotels & Resorts in a research note on Tuesday, February 27th. They set a neutral rating and a $27.50 price objective for the company. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. Park Hotels & Resorts presently has a consensus rating of Hold and a consensus price target of $36.23.
Park Hotels & Resorts (NYSE PK) opened at $27.04 on Wednesday. Park Hotels & Resorts has a one year low of $23.91 and a one year high of $29.93. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.29 and a current ratio of 1.29. The company has a market cap of $5,808.55, a PE ratio of 2.20, a PEG ratio of 1.76 and a beta of 0.69.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Friday, March 30th will be issued a $0.43 dividend. The ex-dividend date is Wednesday, March 28th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.36%. Park Hotels & Resorts’s payout ratio is 17.89%.
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About Park Hotels & Resorts
Park Hotels & Resorts Inc is a lodging real estate company. The Company has a portfolio of hotels and resorts. The Company operates through ownership segment, which includes all of its hotel properties. As of December 31, 2016, the Company’s portfolio consisted of 67 hotels and resorts with over 35,000 rooms located in the United States and international markets.
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