Park Hotels & Resorts Inc. (NYSE:PK) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Park Hotels & Resorts Inc. (NYSE:PK) have received a consensus rating of “Moderate Buy” from the twelve analysts that are currently covering the company, Marketbeat.com reports. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $17.25.

PK has been the topic of a number of research analyst reports. Evercore ISI decreased their price target on Park Hotels & Resorts from $20.00 to $19.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 13th. UBS Group lowered their target price on shares of Park Hotels & Resorts from $18.00 to $14.00 and set a “neutral” rating for the company in a report on Friday, August 16th. Truist Financial cut their price target on shares of Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Barclays boosted their price objective on shares of Park Hotels & Resorts from $21.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, May 24th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $17.00 target price on shares of Park Hotels & Resorts in a research report on Tuesday, May 28th.

Hedge Funds Weigh In On Park Hotels & Resorts

Several hedge funds and other institutional investors have recently made changes to their positions in PK. Fidelis Capital Partners LLC purchased a new stake in Park Hotels & Resorts during the 1st quarter worth $26,000. Raleigh Capital Management Inc. purchased a new stake in Park Hotels & Resorts during the 4th quarter worth $35,000. YHB Investment Advisors Inc. purchased a new stake in Park Hotels & Resorts during the 1st quarter worth $40,000. Quarry LP increased its stake in Park Hotels & Resorts by 82.1% during the 2nd quarter. Quarry LP now owns 4,118 shares of the financial services provider’s stock worth $62,000 after buying an additional 1,857 shares during the period. Finally, FinTrust Capital Advisors LLC increased its stake in Park Hotels & Resorts by 260.5% during the 1st quarter. FinTrust Capital Advisors LLC now owns 5,076 shares of the financial services provider’s stock worth $89,000 after buying an additional 3,668 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

Park Hotels & Resorts Stock Performance

NYSE:PK opened at $14.08 on Thursday. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.58 and a quick ratio of 1.58. The firm has a market cap of $2.94 billion, a PE ratio of 31.99, a P/E/G ratio of 0.68 and a beta of 2.02. The firm has a 50 day simple moving average of $14.59 and a 200-day simple moving average of $15.71. Park Hotels & Resorts has a 1-year low of $11.05 and a 1-year high of $18.05.

Park Hotels & Resorts (NYSE:PK) last issued its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.30). Park Hotels & Resorts had a net margin of 11.50% and a return on equity of 8.77%. The business had revenue of $686.00 million during the quarter, compared to analyst estimates of $694.94 million. On average, equities analysts expect that Park Hotels & Resorts will post 2.11 EPS for the current year.

Park Hotels & Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, September 30th. This represents a $1.00 annualized dividend and a dividend yield of 7.10%. Park Hotels & Resorts’s payout ratio is 227.28%.

About Park Hotels & Resorts

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.