Park Hotels & Resorts Inc. (PK) Releases Earnings Results
Park Hotels & Resorts Inc. (NYSE:PK) posted its quarterly earnings results on Thursday. The financial services provider reported $0.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.01, Bloomberg Earnings reports. The firm had revenue of $688.00 million during the quarter, compared to the consensus estimate of $676.76 million. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.66 earnings per share. Park Hotels & Resorts updated its FY17 guidance to $2.68-2.78 EPS.
In related news, Director Stephen I. Sadove purchased 9,600 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The shares were purchased at an average price of $25.97 per share, with a total value of $249,312.00. Following the purchase, the director now owns 20,151 shares of the company’s stock, valued at $523,321.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.25% of the stock is currently owned by company insiders.
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A number of research firms have weighed in on PK. 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 Wednesday, October 18th. Zacks Investment Research lowered shares of Park Hotels & Resorts from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Finally, Canaccord Genuity dropped their price target on shares of Park Hotels & Resorts from $30.00 to $29.00 and set a “buy” rating for the company in a research report on Friday, August 4th. Ten analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $34.80.
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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