Park Hotels & Resorts Inc. (NYSE:PK) Receives $11.10 Consensus Target Price from Analysts

Shares of Park Hotels & Resorts Inc. (NYSE:PK) have received an average recommendation of “Reduce” from the eleven research firms that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $11.10.

A number of analysts have recently issued reports on the company. UBS Group boosted their target price on Park Hotels & Resorts from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Monday, October 6th. Evercore ISI reduced their price target on shares of 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. Citigroup lowered shares of Park Hotels & Resorts from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $13.00 to $12.00 in a research report on Tuesday, September 9th. Cantor Fitzgerald started coverage on shares of Park Hotels & Resorts in a research note on Wednesday, October 1st. They issued a “neutral” rating and a $12.00 target price on the stock. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Park Hotels & Resorts in a research report on Monday.

Hedge Funds Weigh In On Park Hotels & Resorts

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Danske Bank A S purchased a new position in Park Hotels & Resorts in the 3rd quarter worth approximately $25,000. Parvin Asset Management LLC acquired a new position in shares of Park Hotels & Resorts during the second quarter worth $26,000. Bessemer Group Inc. boosted its stake in shares of Park Hotels & Resorts by 359.3% in the second quarter. Bessemer Group Inc. now owns 3,082 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 2,411 shares during the period. Advisory Services Network LLC acquired a new stake in Park Hotels & Resorts during the 3rd quarter valued at $34,000. Finally, IFP Advisors Inc increased its stake in Park Hotels & Resorts by 469.0% during the 2nd quarter. IFP Advisors Inc now owns 3,465 shares of the financial services provider’s stock worth $35,000 after buying an additional 2,856 shares during the period. 92.69% of the stock is owned by institutional investors and hedge funds.

Park Hotels & Resorts Trading Down 0.1%

PK stock opened at $10.81 on Wednesday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.37. The company has a market cap of $2.16 billion, a price-to-earnings ratio of -154.39 and a beta of 1.45. The business has a fifty day simple moving average of $10.66 and a 200-day simple moving average of $10.93. Park Hotels & Resorts has a 52 week low of $8.27 and a 52 week high of $14.29.

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

Park Hotels & Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be given a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $1.00 annualized dividend and a dividend yield of 9.3%. Park Hotels & Resorts’s dividend payout ratio is presently -1,428.57%.

Park Hotels & Resorts Company Profile

Park Hotels & Resorts Inc is a publicly traded real estate investment trust (REIT) specializing in luxury and upper-upscale hospitality properties. The company’s primary business activity involves owning and leasing premier hotels and resorts across major urban and resort destinations. Through long-term management and franchise agreements with leading hotel operators, Park generates revenue from room nights, food and beverage offerings, meetings and events, and ancillary services.

Since its spin-off from Hilton Worldwide in January 2017, Park Hotels & Resorts has assembled a diversified portfolio of more than 60 properties.