Park Hotels & Resorts Inc. (NYSE:PK) – Research analysts at SunTrust Banks lifted their Q4 2017 EPS estimates for shares of Park Hotels & Resorts in a report issued on Thursday. SunTrust Banks analyst P. Scholes now forecasts that the financial services provider will earn $0.67 per share for the quarter, up from their prior estimate of $0.66. SunTrust Banks also issued estimates for Park Hotels & Resorts’ Q4 2018 earnings at $0.69 EPS.

A number of other brokerages have also commented on PK. Zacks Investment Research upgraded Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research report on Thursday, May 18th. Boenning Scattergood set a $29.00 price target on Park Hotels & Resorts and gave the company a “buy” rating in a report on Friday. Jefferies Group LLC lifted their price target on Park Hotels & Resorts from $58.00 to $69.00 and gave the company a “hold” rating in a report on Tuesday, June 20th. Cowen and Company lifted their price target on Park Hotels & Resorts from $61.00 to $70.00 and gave the company a “market perform” rating in a report on Tuesday, June 20th. Finally, Evercore ISI started coverage on Park Hotels & Resorts in a report on Wednesday, May 31st. They set an “outperform” rating and a $28.00 price target for the company. Ten research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Park Hotels & Resorts presently has a consensus rating of “Hold” and an average target price of $34.80.

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Park Hotels & Resorts (PK) opened at 26.44 on Monday. The stock has a market capitalization of $5.68 billion and a price-to-earnings ratio of 2.26. Park Hotels & Resorts has a one year low of $24.65 and a one year high of $33.40. The stock’s 50 day moving average is $27.16 and its 200 day moving average is $26.56.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $0.81 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.04. The company had revenue of $733 million for the quarter, compared to analysts’ expectations of $716.51 million. The company’s quarterly revenue was up 1.1% on a year-over-year basis.

Hedge funds and other institutional investors have recently modified their holdings of the company. Schwab Charles Investment Management Inc. increased its position in shares of Park Hotels & Resorts by 278.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,219,821 shares of the financial services provider’s stock valued at $32,887,000 after buying an additional 897,527 shares in the last quarter. Marshall Wace North America L.P. increased its position in shares of Park Hotels & Resorts by 195.5% in the second quarter. Marshall Wace North America L.P. now owns 1,010,988 shares of the financial services provider’s stock valued at $27,297,000 after buying an additional 668,861 shares in the last quarter. APG Asset Management US Inc. increased its position in shares of Park Hotels & Resorts by 66.3% in the second quarter. APG Asset Management US Inc. now owns 1,550,000 shares of the financial services provider’s stock valued at $41,788,000 after buying an additional 618,229 shares in the last quarter. Aperio Group LLC increased its position in shares of Park Hotels & Resorts by 1,065.3% in the second quarter. Aperio Group LLC now owns 413,435 shares of the financial services provider’s stock valued at $11,146,000 after buying an additional 377,955 shares in the last quarter. Finally, Legal & General Group Plc increased its position in shares of Park Hotels & Resorts by 47.8% in the second quarter. Legal & General Group Plc now owns 666,516 shares of the financial services provider’s stock valued at $17,969,000 after buying an additional 215,580 shares in the last quarter. 97.07% of the stock is currently owned by institutional investors.

In other Park Hotels & Resorts news, major shareholder Hlt Holdco Iii Prime Llc sold 15,000,000 shares of Park Hotels & Resorts stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $26.05, for a total value of $390,750,000.00. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.25% of the company’s stock.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 6.51%. The ex-dividend date is Thursday, September 28th.

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.

Earnings History and Estimates for Park Hotels & Resorts (NYSE:PK)

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