Park Hotels & Resorts (NYSE:PK) Issues FY24 Earnings Guidance

Park Hotels & Resorts (NYSE:PK) updated its FY24 earnings guidance on Monday. The company provided EPS guidance of $2.00-2.10 for the period, compared to the consensus EPS estimate of $2.12. Park Hotels & Resorts also updated its FY 2024 guidance to 2.000-2.100 EPS.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Bank of America cut their price objective on shares of Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating for the company in a report on Monday, October 21st. Truist Financial lowered their target price on Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Compass Point dropped their price objective on shares of Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. UBS Group dropped their price objective on shares of Park Hotels & Resorts from $18.00 to $14.00 and set a “neutral” rating for the company in a research note on Friday, August 16th. Finally, Wells Fargo & Company lowered their target price on shares of Park Hotels & Resorts from $17.00 to $14.50 and set an “equal weight” rating for the company in a research note on Friday, September 13th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $18.00.

Park Hotels & Resorts Price Performance

Shares of NYSE PK opened at $15.10 on Wednesday. The business’s 50 day moving average price is $14.32 and its 200 day moving average price is $14.83. The firm has a market cap of $3.12 billion, a P/E ratio of 9.61, a P/E/G ratio of 0.82 and a beta of 2.02. Park Hotels & Resorts has a 52 week low of $12.96 and a 52 week high of $18.05. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 1.24.

Park Hotels & Resorts (NYSE:PK) last issued its earnings results on Tuesday, October 29th. The financial services provider reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.21). Park Hotels & Resorts had a net margin of 12.66% and a return on equity of 9.63%. The firm had revenue of $649.00 million during the quarter, compared to analysts’ expectations of $646.15 million. During the same quarter in the prior year, the company earned $0.51 EPS. Park Hotels & Resorts’s quarterly revenue was down 4.4% on a year-over-year basis. On average, sell-side analysts expect that Park Hotels & Resorts will post 2.09 earnings per share for the current year.

Park Hotels & Resorts Company Profile

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.