Analysts Anticipate Park Hotels & Resorts Inc (PK) Will Announce Quarterly Sales of $661.13 Million

Equities analysts predict that Park Hotels & Resorts Inc (NYSE:PK) will report sales of $661.13 million for the current quarter, according to Zacks. Five analysts have provided estimates for Park Hotels & Resorts’ earnings. The highest sales estimate is $678.00 million and the lowest is $648.00 million. Park Hotels & Resorts reported sales of $686.00 million during the same quarter last year, which would suggest a negative year over year growth rate of 3.6%. The firm is scheduled to issue its next earnings results on Thursday, March 7th.

According to Zacks, analysts expect that Park Hotels & Resorts will report full year sales of $2.71 billion for the current year, with estimates ranging from $2.70 billion to $2.73 billion. For the next financial year, analysts expect that the business will report sales of $2.74 billion, with estimates ranging from $2.71 billion to $2.77 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Park Hotels & Resorts.

Park Hotels & Resorts (NYSE:PK) last issued its quarterly earnings data on Thursday, November 1st. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by ($0.38). The company had revenue of $652.00 million for the quarter, compared to analyst estimates of $656.61 million. Park Hotels & Resorts had a return on equity of 8.27% and a net margin of 17.46%. The company’s revenue was down 5.2% on a year-over-year basis. During the same quarter last year, the business earned $0.66 earnings per share.

A number of equities research analysts have recently weighed in on PK shares. Jefferies Financial Group set a $38.00 price target on shares of Park Hotels & Resorts and gave the company a “buy” rating in a research report on Friday, August 3rd. Barclays reiterated a “buy” rating on shares of Park Hotels & Resorts in a research report on Friday, August 3rd. SunTrust Banks reiterated a “buy” rating on shares of Park Hotels & Resorts in a research report on Friday, August 3rd. Evercore ISI downgraded shares of Park Hotels & Resorts from an “outperform” rating to an “in-line” rating in a research report on Monday, August 20th. Finally, Zacks Investment Research downgraded shares of Park Hotels & Resorts from a “buy” rating to a “hold” rating in a research report on Tuesday, October 9th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. Park Hotels & Resorts currently has an average rating of “Hold” and a consensus price target of $32.06.

Shares of PK stock opened at $30.85 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.55 and a quick ratio of 1.79. Park Hotels & Resorts has a 12-month low of $23.91 and a 12-month high of $34.27. The company has a market cap of $5.97 billion, a price-to-earnings ratio of 11.10, a P/E/G ratio of 2.20 and a beta of 0.97.

Several large investors have recently modified their holdings of the company. BlackRock Inc. lifted its holdings in shares of Park Hotels & Resorts by 4.6% during the third quarter. BlackRock Inc. now owns 16,998,104 shares of the financial services provider’s stock worth $557,876,000 after purchasing an additional 741,598 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Park Hotels & Resorts by 12.3% during the third quarter. JPMorgan Chase & Co. now owns 9,828,336 shares of the financial services provider’s stock worth $322,567,000 after purchasing an additional 1,078,962 shares during the period. Centersquare Investment Management LLC lifted its holdings in shares of Park Hotels & Resorts by 13.1% during the second quarter. Centersquare Investment Management LLC now owns 4,805,270 shares of the financial services provider’s stock worth $147,186,000 after purchasing an additional 557,812 shares during the period. Daiwa Securities Group Inc. lifted its holdings in shares of Park Hotels & Resorts by 3.8% during the third quarter. Daiwa Securities Group Inc. now owns 4,350,835 shares of the financial services provider’s stock worth $142,795,000 after purchasing an additional 158,192 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of Park Hotels & Resorts by 35.9% during the second quarter. Northern Trust Corp now owns 3,276,256 shares of the financial services provider’s stock worth $100,352,000 after purchasing an additional 866,219 shares during the period.

About Park Hotels & Resorts

Park is a leading lodging REIT with a diverse portfolio of hotels and resorts with significant underlying real estate value. Park's portfolio consists of 54 premium-branded hotels and resorts with over 32,000 rooms, a majority of which are located in prime United States markets with high barriers to entry.

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