Park Hotels & Resorts Inc. (NYSE:PK) Receives Average Recommendation of “Reduce” from Analysts

Shares of Park Hotels & Resorts Inc. (NYSE:PK) have been given an average rating of “Reduce” by the thirteen research firms that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $12.6818.

A number of research analysts recently commented on the company. Wells Fargo & Company increased their target price 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. Truist Financial increased their target price 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. LADENBURG THALM/SH SH raised their price objective on Park Hotels & Resorts from $16.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday. Morgan Stanley lifted their price objective on Park Hotels & Resorts from $10.00 to $10.50 and gave the stock an “equal weight” rating in a report on Tuesday, May 12th. Finally, Zacks Research raised Park Hotels & Resorts from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 19th.

Institutional Trading of Park Hotels & Resorts

A number of institutional investors have recently made changes to their positions in PK. Amundi grew its holdings in shares of Park Hotels & Resorts by 1.9% in the first quarter. Amundi now owns 115,143 shares of the financial services provider’s stock worth $1,119,000 after purchasing an additional 2,179 shares during the last quarter. Millennium Management LLC raised its holdings in Park Hotels & Resorts by 849.3% during the 1st quarter. Millennium Management LLC now owns 523,851 shares of the financial services provider’s stock valued at $5,595,000 after buying an additional 468,668 shares during the last quarter. United Services Automobile Association bought a new stake in Park Hotels & Resorts during the 1st quarter valued at $152,000. Empowered Funds LLC boosted its position in Park Hotels & Resorts by 10.1% during the 1st quarter. Empowered Funds LLC now owns 22,380 shares of the financial services provider’s stock valued at $239,000 after buying an additional 2,058 shares during the period. Finally, Focus Partners Wealth boosted its position in Park Hotels & Resorts by 30.6% during the 1st quarter. Focus Partners Wealth now owns 18,646 shares of the financial services provider’s stock valued at $199,000 after buying an additional 4,374 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Stock Up 2.1%

PK opened at $14.70 on Wednesday. The stock has a market cap of $2.96 billion, a PE ratio of -13.49, a P/E/G ratio of 1.93 and a beta of 1.37. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.27. Park Hotels & Resorts has a 52 week low of $9.84 and a 52 week high of $14.78. The business’s fifty day simple moving average is $11.92 and its 200 day simple moving average is $11.29.

Park Hotels & Resorts (NYSE:PK) last released its earnings results on Thursday, April 30th. The financial services provider reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.33). The firm had revenue of $622.00 million during the quarter, compared to the consensus estimate of $609.78 million. Park Hotels & Resorts had a negative net margin of 8.49% and a negative return on equity of 6.71%. The firm’s revenue was down 1.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.46 EPS. Park Hotels & Resorts has set its FY 2026 guidance at 1.740-1.900 EPS. As a group, research analysts expect that Park Hotels & Resorts will post 1.76 earnings per share for the current fiscal year.

Park Hotels & Resorts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 6.8%. The ex-dividend date of this dividend is Tuesday, June 30th. Park Hotels & Resorts’s payout ratio is -91.74%.

About Park Hotels & Resorts

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.