Park Hotels & Resorts (NYSE:PK) Releases FY 2023 Earnings Guidance

Park Hotels & Resorts (NYSE:PKGet Free Report) issued an update on its FY 2023 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 2.050-2.050 for the period, compared to the consensus estimate of 2.010. The company issued revenue guidance of $2.7 billion-$2.7 billion, compared to the consensus revenue estimate of $2.7 billion.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. HSBC assumed coverage on shares of Park Hotels & Resorts in a report on Monday, October 23rd. They issued a hold rating and a $13.00 target price for the company. Barclays upgraded shares of Park Hotels & Resorts from an equal weight rating to an overweight rating and raised their target price for the stock from $16.00 to $19.00 in a report on Monday, November 6th. Jefferies Financial Group raised shares of Park Hotels & Resorts from a hold rating to a buy rating and increased their price target for the stock from $14.00 to $21.00 in a research report on Tuesday, January 2nd. JPMorgan Chase & Co. raised shares of Park Hotels & Resorts from an underweight rating to a neutral rating and increased their price target for the stock from $11.00 to $16.00 in a research report on Thursday, December 14th. Finally, Wells Fargo & Company increased their price target on shares of Park Hotels & Resorts from $15.00 to $17.00 and gave the stock an equal weight rating in a research report on Friday, December 22nd. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Park Hotels & Resorts currently has an average rating of Hold and an average target price of $16.60.

Check Out Our Latest Research Report on Park Hotels & Resorts

Park Hotels & Resorts Trading Down 0.5 %

Shares of PK stock opened at $15.19 on Monday. Park Hotels & Resorts has a 12 month low of $10.70 and a 12 month high of $17.37. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 1.14. The business’s 50 day moving average is $15.78 and its two-hundred day moving average is $13.87. The company has a market cap of $3.19 billion, a PE ratio of -56.26, a price-to-earnings-growth ratio of 0.54 and a beta of 2.02.

Park Hotels & Resorts Announces Dividend

The business also recently disclosed a None dividend, which was paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th were paid a $0.77 dividend. The ex-dividend date of this dividend was Thursday, December 28th. Park Hotels & Resorts’s payout ratio is -1,377.78%.

Institutional Investors Weigh In On Park Hotels & Resorts

Several hedge funds and other institutional investors have recently modified their holdings of the stock. First Trust Advisors LP boosted its stake in Park Hotels & Resorts by 1.5% during the first quarter. First Trust Advisors LP now owns 47,964 shares of the financial services provider’s stock worth $937,000 after buying an additional 686 shares in the last quarter. Federated Hermes Inc. boosted its stake in Park Hotels & Resorts by 3.9% during the first quarter. Federated Hermes Inc. now owns 30,799 shares of the financial services provider’s stock worth $602,000 after buying an additional 1,147 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Park Hotels & Resorts by 10.7% during the third quarter. Tower Research Capital LLC TRC now owns 13,005 shares of the financial services provider’s stock worth $160,000 after buying an additional 1,253 shares in the last quarter. Yousif Capital Management LLC boosted its stake in Park Hotels & Resorts by 1.4% during the first quarter. Yousif Capital Management LLC now owns 104,616 shares of the financial services provider’s stock worth $2,043,000 after buying an additional 1,463 shares in the last quarter. Finally, HighTower Advisors LLC boosted its stake in Park Hotels & Resorts by 6.4% during the first quarter. HighTower Advisors LLC now owns 27,319 shares of the financial services provider’s stock worth $336,000 after buying an additional 1,634 shares in the last quarter. Institutional investors and hedge funds own 91.40% of the company’s stock.

Park Hotels & Resorts Company Profile

(Get Free Report)

Park is one of the largest publicly traded lodging REITs with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio currently consists of 43 premium-branded hotels and resorts with over 26,000 rooms primarily located in prime city center and resort locations.

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