Park Hotels & Resorts Inc. (PK) Issues FY17 Earnings Guidance
Park Hotels & Resorts Inc. (NYSE:PK) issued an update on its FY17 earnings guidance on Thursday morning. The company provided EPS guidance of $2.68-2.78 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.75.
Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.04. The business had revenue of $733.00 million for the quarter, compared to analysts’ expectations of $716.51 million. Park Hotels & Resorts’s revenue was up 1.1% on a year-over-year basis.
PK has been the subject of a number of recent research reports. Boenning Scattergood set a $29.00 price target on shares of Park Hotels & Resorts and gave the stock a buy rating in a research report on Friday, August 4th. Zacks Investment Research raised shares of Park Hotels & Resorts from a hold rating to a buy rating and set a $30.00 target price for the company in a report on Tuesday, July 11th. Finally, Canaccord Genuity cut their target price on shares of Park Hotels & Resorts from $30.00 to $29.00 and set a buy rating for the company in a report on Friday, August 4th. Ten research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $34.80.
In other news, Director Stephen I. Sadove bought 9,600 shares of the business’s stock in a transaction dated Friday, August 4th. The stock was purchased at an average cost of $25.97 per share, with a total value of $249,312.00. Following the acquisition, the director now directly owns 20,151 shares in the company, valued at $523,321.47. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.25% of the stock is owned by insiders.
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Park Hotels & Resorts Company Profile
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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