Zacks: Brokerages Anticipate Park Hotels & Resorts Inc. (PK) Will Announce Earnings of $0.77 Per Share
Wall Street analysts expect that Park Hotels & Resorts Inc. (NYSE:PK) will post $0.77 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Park Hotels & Resorts’ earnings. The highest EPS estimate is $0.82 and the lowest is $0.66. The company is expected to announce its next earnings report on Wednesday, August 2nd.
According to Zacks, analysts expect that Park Hotels & Resorts will report full-year earnings of $2.74 per share for the current financial year, with EPS estimates ranging from $2.69 to $2.76. For the next fiscal year, analysts anticipate that the business will post earnings of $2.78 per share, with EPS estimates ranging from $2.72 to $2.88. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that follow Park Hotels & Resorts.
PK has been the subject of a number of research analyst reports. Barclays PLC initiated coverage on shares of Park Hotels & Resorts in a research report on Monday, February 13th. They set an “overweight” rating and a $30.00 price objective for the company. Nomura initiated coverage on shares of Park Hotels & Resorts in a research report on Tuesday, February 14th. They set a “buy” rating and a $32.00 price objective for the company. Wells Fargo & Company initiated coverage on shares of Park Hotels & Resorts in a research report on Friday, February 17th. They set a “market perform” rating for the company. They noted that the move was a valuation call. Bank of America Corporation initiated coverage on shares of Park Hotels & Resorts in a research report on Tuesday, February 21st. They set a “neutral” rating for the company. Finally, Raymond James Financial, Inc. initiated coverage on shares of Park Hotels & Resorts in a research report on Wednesday, March 1st. They set an “outperform” rating and a $29.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $29.50.
In other Park Hotels & Resorts news, major shareholder Hlt Holdco Iii Prime Llc sold 15,000,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 7th. The shares were sold at an average price of $26.05, for a total transaction of $390,750,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
A hedge fund recently bought a new stake in Park Hotels & Resorts stock. Adelante Capital Management LLC acquired a new position in shares of Park Hotels & Resorts Inc. (NYSE:PK) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 82,048 shares of the financial services provider’s stock, valued at approximately $2,106,000. 97.03% of the stock is owned by institutional investors.
Park Hotels & Resorts (PK) traded up 0.36% during mid-day trading on Tuesday, hitting $27.84. 2,713,012 shares of the stock traded hands. Park Hotels & Resorts has a one year low of $24.65 and a one year high of $33.40. The company has a 50 day moving average price of $26.07 and a 200-day moving average price of $26.57. The stock has a market capitalization of $5.98 billion and a PE ratio of 2.43.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 17th. Shareholders of record on Friday, June 30th will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 6.18%. The ex-dividend date of this dividend is Wednesday, June 28th.
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About Park Hotels & Resorts
Park Hotels & Resorts Inc is a lodging real estate company. The Company has a portfolio of hotels and resorts. The Company operates through ownership segment, which includes all of its hotel properties. As of December 31, 2016, the Company’s portfolio consisted of 67 hotels and resorts with over 35,000 rooms located in the United States and international markets.
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