Analysts Set Park Hotels & Resorts Inc. (NYSE:PK) Price Target at $17.72

Park Hotels & Resorts Inc. (NYSE:PK) has earned an average recommendation of “Moderate Buy” from the ten analysts that are presently covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $17.72.

A number of research analysts have recently issued reports on the company. Jefferies Financial Group dropped their price objective on Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Wells Fargo & Company dropped their price target on Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 18th. Truist Financial reduced their price objective on shares of Park Hotels & Resorts from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Friday, March 21st. StockNews.com downgraded shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Friday, February 21st. Finally, UBS Group reduced their price target on shares of Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating for the company in a report on Monday, February 3rd.

Park Hotels & Resorts Stock Performance

Shares of PK stock opened at $10.90 on Monday. The stock has a market capitalization of $2.20 billion, a PE ratio of 10.79, a PEG ratio of 1.51 and a beta of 2.02. The business’s 50 day simple moving average is $12.48 and its 200 day simple moving average is $13.83. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.19 and a quick ratio of 1.51. Park Hotels & Resorts has a one year low of $10.66 and a one year high of $17.87.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.01). Park Hotels & Resorts had a net margin of 8.16% and a return on equity of 5.63%. The firm had revenue of $625.00 million during the quarter, compared to the consensus estimate of $609.05 million. As a group, research analysts forecast that Park Hotels & Resorts will post 2.11 earnings per share for the current year.

Park Hotels & Resorts Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.18%. Park Hotels & Resorts’s dividend payout ratio is presently 99.01%.

Institutional Trading of Park Hotels & Resorts

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quarry LP purchased a new stake in Park Hotels & Resorts in the 4th quarter valued at about $35,000. GF Fund Management CO. LTD. bought a new position in shares of Park Hotels & Resorts in the fourth quarter valued at approximately $53,000. Quadrant Capital Group LLC increased its position in shares of Park Hotels & Resorts by 38.4% during the fourth quarter. Quadrant Capital Group LLC now owns 4,814 shares of the financial services provider’s stock valued at $68,000 after acquiring an additional 1,335 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in Park Hotels & Resorts by 42.2% during the fourth quarter. Jones Financial Companies Lllp now owns 7,992 shares of the financial services provider’s stock worth $112,000 after acquiring an additional 2,373 shares during the period. Finally, CIBC Private Wealth Group LLC purchased a new position in Park Hotels & Resorts in the fourth quarter worth $112,000. 92.69% of the stock is owned by institutional investors.

About Park Hotels & Resorts

Park Hotels & Resorts, Inc operates as a real estate investment trust, which owns and operates hotels and resorts. It operates through the Consolidated Hotels and Unconsolidated Hotels segments. Its portfolio of hotels and resorts include the Waldorf Astoria Hotels and Resorts, Conrad Hotels & Resorts, Hilton Hotels & Resorts, DoubleTree by Hilton, Embassy Suites by Hilton, Hilton Garden Inn, Hampton by Hilton, and Curio.