Park Hotels & Resorts (NYSE:PK) Sets New 52-Week High – Time to Buy?

Park Hotels & Resorts Inc. (NYSE:PK)’s stock price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $14.16 and last traded at $14.1450, with a volume of 1538452 shares trading hands. The stock had previously closed at $14.04.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on PK shares. Truist Financial upped their price objective on Park Hotels & Resorts from $12.00 to $13.00 and gave the company a “hold” rating in a research note on Tuesday, May 26th. Barclays upped their price objective on Park Hotels & Resorts from $9.00 to $12.00 and gave the company an “equal weight” rating in a research note on Monday, June 1st. LADENBURG THALM/SH SH started coverage on Park Hotels & Resorts in a research note on Thursday, March 26th. They issued a “buy” rating and a $16.00 price objective for the company. Wells Fargo & Company upped their price objective on Park Hotels & Resorts from $10.00 to $12.00 and gave the company an “equal weight” rating in a research note on Monday, June 1st. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $12.00 price objective on shares of Park Hotels & Resorts in a research note on Wednesday, May 13th. One investment analyst has rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $12.15.

Park Hotels & Resorts Price Performance

The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.25 and a current ratio of 1.25. The company has a market cap of $2.84 billion, a P/E ratio of -12.93, a P/E/G ratio of 1.92 and a beta of 1.37. The firm has a 50 day moving average price of $11.39 and a two-hundred day moving average price of $11.09.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings results on Thursday, April 30th. The financial services provider reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.33). The firm had revenue of $622.00 million for the quarter, compared to the consensus estimate of $609.78 million. Park Hotels & Resorts had a negative return on equity of 6.71% and a negative net margin of 8.49%.The firm’s revenue was down 1.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.46 EPS. Park Hotels & Resorts has set its FY 2026 guidance at 1.740-1.900 EPS. On average, analysts predict that Park Hotels & Resorts Inc. will post 1.74 EPS for the current fiscal year.

Park Hotels & Resorts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, June 30th. This represents a $1.00 annualized dividend and a dividend yield of 7.1%. Park Hotels & Resorts’s dividend payout ratio is presently -91.74%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Danske Bank A S bought a new position in shares of Park Hotels & Resorts during the 3rd quarter worth $25,000. Fifth Third Bancorp lifted its holdings in Park Hotels & Resorts by 68.8% during the 1st quarter. Fifth Third Bancorp now owns 2,604 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 1,061 shares in the last quarter. Advisory Services Network LLC purchased a new stake in Park Hotels & Resorts during the 3rd quarter worth about $34,000. Clearstead Advisors LLC lifted its holdings in Park Hotels & Resorts by 326.4% during the 3rd quarter. Clearstead Advisors LLC now owns 3,198 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 2,448 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its holdings in Park Hotels & Resorts by 293.1% during the 4th quarter. Harbor Capital Advisors Inc. now owns 5,181 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 3,863 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Company Profile

Park Hotels & Resorts Inc is a publicly traded real estate investment trust (REIT) specializing in luxury and upper-upscale hospitality properties. The company’s primary business activity involves owning and leasing premier hotels and resorts across major urban and resort destinations. Through long-term management and franchise agreements with leading hotel operators, Park generates revenue from room nights, food and beverage offerings, meetings and events, and ancillary services.

Since its spin-off from Hilton Worldwide in January 2017, Park Hotels & Resorts has assembled a diversified portfolio of more than 60 properties.