Wells Fargo & Company Issues Pessimistic Forecast for Park Hotels & Resorts (NYSE:PK) Stock Price

Park Hotels & Resorts (NYSE:PK) had its price objective dropped by investment analysts at Wells Fargo & Company from $12.00 to $11.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target points to a potential upside of 2.56% from the stock’s previous close.

Other research analysts have also recently issued research reports about the company. Citigroup cut Park Hotels & Resorts from a “buy” rating to a “neutral” rating and cut their target price for the company from $13.00 to $12.00 in a research note on Tuesday, September 9th. Weiss Ratings restated a “sell (d+)” rating on shares of Park Hotels & Resorts in a report on Tuesday, November 25th. Evercore ISI dropped their price target on Park Hotels & Resorts from $13.00 to $12.00 and set an “in-line” rating on the stock in a research report on Thursday, November 20th. Cantor Fitzgerald assumed coverage on shares of Park Hotels & Resorts in a report on Wednesday, October 1st. They issued a “neutral” rating and a $12.00 price target for the company. Finally, UBS Group increased their price objective on shares of Park Hotels & Resorts from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Monday, October 6th. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Park Hotels & Resorts has an average rating of “Reduce” and an average price target of $11.00.

Park Hotels & Resorts Trading Down 0.9%

PK stock traded down $0.10 during midday trading on Monday, reaching $10.73. 274,368 shares of the company traded hands, compared to its average volume of 3,915,684. Park Hotels & Resorts has a 52-week low of $8.27 and a 52-week high of $16.23. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.04 and a current ratio of 1.04. The business has a 50 day moving average of $10.81 and a 200-day moving average of $10.87. The firm has a market capitalization of $2.14 billion, a price-to-earnings ratio of -153.07 and a beta of 1.45.

Park Hotels & Resorts (NYSE:PK) last announced its earnings results on Thursday, October 30th. The financial services provider reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.08). Park Hotels & Resorts had a negative return on equity of 1.25% and a negative net margin of 0.47%.The company had revenue of $610.00 million during the quarter, compared to analysts’ expectations of $617.05 million. During the same quarter last year, the firm posted $0.49 EPS. Park Hotels & Resorts’s revenue for the quarter was down 6.0% compared to the same quarter last year. Park Hotels & Resorts has set its FY 2025 guidance at 1.850-1.970 EPS. As a group, sell-side analysts expect that Park Hotels & Resorts will post 2.11 earnings per share for the current fiscal year.

Institutional Trading of Park Hotels & Resorts

Several hedge funds and other institutional investors have recently made changes to their positions in PK. Cetera Investment Advisers raised its stake in Park Hotels & Resorts by 10.7% in the first quarter. Cetera Investment Advisers now owns 14,999 shares of the financial services provider’s stock valued at $160,000 after buying an additional 1,455 shares during the last quarter. LPL Financial LLC boosted its stake in Park Hotels & Resorts by 34.5% in the 1st quarter. LPL Financial LLC now owns 508,004 shares of the financial services provider’s stock worth $5,425,000 after purchasing an additional 130,399 shares in the last quarter. Mackenzie Financial Corp grew its position in Park Hotels & Resorts by 10.6% during the 1st quarter. Mackenzie Financial Corp now owns 12,905 shares of the financial services provider’s stock worth $138,000 after purchasing an additional 1,239 shares during the last quarter. Jefferies Financial Group Inc. acquired a new position in Park Hotels & Resorts during the 1st quarter valued at approximately $682,000. Finally, CM Management LLC raised its holdings in shares of Park Hotels & Resorts by 33.3% in the first quarter. CM Management LLC now owns 200,000 shares of the financial services provider’s stock worth $2,136,000 after buying an additional 50,000 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

About Park Hotels & Resorts

Park Hotels & Resorts, Inc operates as a real estate investment trust, which owns and operates hotels and resorts. It operates through the Consolidated Hotels and Unconsolidated Hotels segments. Its portfolio of hotels and resorts include the Waldorf Astoria Hotels and Resorts, Conrad Hotels & Resorts, Hilton Hotels & Resorts, DoubleTree by Hilton, Embassy Suites by Hilton, Hilton Garden Inn, Hampton by Hilton, and Curio.