Park Hotels & Resorts (NYSE:PK) Price Target Raised to $16.00

Park Hotels & Resorts (NYSE:PK) had its target price lifted by Wells Fargo & Company from $15.00 to $16.00 in a research note published on Monday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the financial services provider’s stock.

A number of other brokerages also recently weighed in on PK. UBS Group raised shares of Park Hotels & Resorts from a “neutral” rating to a “hold” rating in a report on Monday, September 28th. BMO Capital Markets upgraded Park Hotels & Resorts from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $14.00 to $18.00 in a research note on Tuesday, September 1st. JPMorgan Chase & Co. boosted their target price on shares of Park Hotels & Resorts from $14.00 to $16.00 and gave the company an “underweight” rating in a research note on Wednesday, October 21st. Evercore set a $17.00 target price on shares of Park Hotels & Resorts in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $18.00 target price on shares of Park Hotels & Resorts in a report on Friday, August 14th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $16.64.

Park Hotels & Resorts Price Performance

Shares of NYSE:PK opened at $16.61 on Monday. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.53 and a quick ratio of 1.53. The stock has a market capitalization of $3.34 billion, a P/E ratio of -20.01 and a beta of 1.36. The business has a 50-day moving average of $15.60 and a two-hundred day moving average of $13.18. Park Hotels & Resorts has a fifty-two week low of $9.84 and a fifty-two week high of $17.14.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings results on Thursday, August 6th. The financial services provider reported $0.24 EPS for the quarter, meeting the consensus estimate of $0.24. Park Hotels & Resorts had a negative return on equity of 5.23% and a negative net margin of 6.41%. The company had revenue of $680.00 million for the quarter, compared to the consensus estimate of $659.68 million. During the same quarter last year, the company posted $0.64 earnings per share. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. Park Hotels & Resorts has set its FY 2026 guidance at 1.900-2.000 EPS. On average, equities research analysts predict that Park Hotels & Resorts will post 1.87 EPS for the current fiscal year.

Park Hotels & Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 6.0%. The ex-dividend date of this dividend was Wednesday, September 30th. Park Hotels & Resorts’s payout ratio is currently -120.48%.

Hedge Funds Weigh In On Park Hotels & Resorts

Institutional investors have recently modified their holdings of the stock. VIRGINIA RETIREMENT SYSTEMS ET Al raised its stake in Park Hotels & Resorts by 788.5% during the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 115,500 shares of the financial services provider’s stock worth $1,781,000 after buying an additional 102,500 shares during the period. North Star Investment Management Corp. raised its position in shares of Park Hotels & Resorts by 64.4% during the third quarter. North Star Investment Management Corp. now owns 10,210 shares of the financial services provider’s stock worth $157,000 after purchasing an additional 4,000 shares during the period. Oppenheimer & Co. Inc. bought a new position in shares of Park Hotels & Resorts during the 3rd quarter valued at about $169,000. Park Avenue Securities LLC lifted its holdings in shares of Park Hotels & Resorts by 40.2% during the 3rd quarter. Park Avenue Securities LLC now owns 36,561 shares of the financial services provider’s stock valued at $564,000 after purchasing an additional 10,484 shares in the last quarter. Finally, Bright Futures Wealth Management LLC. acquired a new position in shares of Park Hotels & Resorts in the 3rd quarter valued at approximately $206,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Park Hotels & Resorts Company Profile

Park Hotels & Resorts Inc (NYSE: PK) is a real estate investment trust focused on owning and operating hotels and resorts. The company’s portfolio includes full-service properties in major business and leisure destinations, with hotels operating under Hilton brands as well as other nationally recognized and independent brands.

Park’s properties provide lodging, food and beverage, meeting and event facilities, and other hospitality services. Its hotels are located primarily in the United States, including gateway cities, convention markets, and resort destinations.

Park Hotels & Resorts was formed in 2017 through a spin-off from Hilton Worldwide Holdings.