Park Hotels & Resorts (NYSE:PK) Cut to “Sell” at StockNews.com

StockNews.com lowered shares of Park Hotels & Resorts (NYSE:PK) from a hold rating to a sell rating in a research note released on Friday morning.

Several other research firms have also commented on PK. UBS Group decreased 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 research report on Monday, February 3rd. Wells Fargo & Company decreased their price target on shares of Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 18th. Jefferies Financial Group decreased their price target on shares of Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. Finally, Compass Point decreased their price target on shares of Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Park Hotels & Resorts has an average rating of “Hold” and an average target price of $18.15.

Park Hotels & Resorts Stock Performance

PK opened at $12.63 on Friday. The company has a current ratio of 1.19, a quick ratio of 1.51 and a debt-to-equity ratio of 1.27. The company has a market cap of $2.55 billion, a price-to-earnings ratio of 12.51, a PEG ratio of 1.51 and a beta of 2.00. The company’s 50 day moving average is $13.77 and its 200 day moving average is $14.31. Park Hotels & Resorts has a 12-month low of $12.52 and a 12-month high of $18.05.

Park Hotels & Resorts (NYSE:PK) last released its earnings results on Wednesday, February 19th. The financial services provider reported $0.39 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.01). Park Hotels & Resorts had a return on equity of 5.63% and a net margin of 8.16%. The company had revenue of $625.00 million during the quarter, compared to analysts’ expectations of $609.05 million. On average, equities research analysts predict that Park Hotels & Resorts will post 2.11 EPS for the current year.

Park Hotels & Resorts Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.92%. The ex-dividend date is Monday, March 31st. Park Hotels & Resorts’s dividend payout ratio (DPR) is 99.01%.

Hedge Funds Weigh In On Park Hotels & Resorts

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC lifted its position in Park Hotels & Resorts by 0.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 79,994 shares of the financial services provider’s stock worth $1,128,000 after purchasing an additional 752 shares during the period. Assetmark Inc. lifted its holdings in shares of Park Hotels & Resorts by 3.4% during the fourth quarter. Assetmark Inc. now owns 23,355 shares of the financial services provider’s stock valued at $329,000 after acquiring an additional 764 shares during the period. Coldstream Capital Management Inc. increased its stake in shares of Park Hotels & Resorts by 7.3% in the fourth quarter. Coldstream Capital Management Inc. now owns 11,931 shares of the financial services provider’s stock valued at $168,000 after buying an additional 813 shares in the last quarter. Xponance Inc. increased its stake in shares of Park Hotels & Resorts by 3.8% in the fourth quarter. Xponance Inc. now owns 24,650 shares of the financial services provider’s stock valued at $347,000 after buying an additional 892 shares in the last quarter. Finally, Cascade Investment Advisors Inc. increased its stake in shares of Park Hotels & Resorts by 1.3% in the fourth quarter. Cascade Investment Advisors Inc. now owns 73,487 shares of the financial services provider’s stock valued at $1,034,000 after buying an additional 915 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

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.