Park Hotels & Resorts (NYSE:PK) Issues FY 2024 Earnings Guidance

Park Hotels & Resorts (NYSE:PK) updated its FY 2024 earnings guidance on Monday. The company provided EPS guidance of 2.000-2.100 for the period, compared to the consensus EPS estimate of 2.130. The company issued revenue guidance of -. Park Hotels & Resorts also updated its FY24 guidance to $2.00-2.10 EPS.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Wells Fargo & Company decreased their price objective on Park Hotels & Resorts from $17.00 to $14.50 and set an “equal weight” rating on the stock in a research report on Friday, September 13th. Wolfe Research downgraded Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 26th. StockNews.com downgraded Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Thursday. Bank of America decreased their price objective on Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating on the stock in a research report on Monday, October 21st. Finally, UBS Group decreased their price objective on Park Hotels & Resorts from $18.00 to $14.00 and set a “neutral” rating on the stock in a research report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $18.00.

Park Hotels & Resorts Trading Up 0.7 %

Shares of NYSE PK opened at $14.81 on Monday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.51 and a current ratio of 1.51. The business’s 50 day moving average price is $14.33 and its 200-day moving average price is $14.85. Park Hotels & Resorts has a fifty-two week low of $12.96 and a fifty-two week high of $18.05. The company has a market cap of $3.06 billion, a price-to-earnings ratio of 9.37, a PEG ratio of 0.81 and a beta of 2.02.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.21). Park Hotels & Resorts had a return on equity of 9.63% and a net margin of 12.66%. The firm had revenue of $649.00 million during the quarter, compared to the consensus estimate of $646.15 million. During the same period last year, the company earned $0.51 EPS. The firm’s revenue for the quarter was down 4.4% compared to the same quarter last year. On average, sell-side analysts expect that Park Hotels & Resorts will post 2.09 earnings per share for the current year.

Park Hotels & Resorts Company Profile

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.