Park Hotels & Resorts (NYSE:PK) Hits New 52-Week Low – What’s Next?

Park Hotels & Resorts Inc. (NYSE:PK) hit a new 52-week low on Thursday . The company traded as low as $12.23 and last traded at $12.33, with a volume of 3043844 shares trading hands. The stock had previously closed at $12.35.

Analyst Ratings Changes

Several research analysts have recently issued reports on PK shares. UBS Group decreased their price objective 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. Jefferies Financial Group decreased their price target on Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. StockNews.com lowered Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Friday, February 21st. Finally, Wells Fargo & Company lowered their target price on Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $18.15.

Park Hotels & Resorts Price Performance

The company has a quick ratio of 1.51, a current ratio of 1.19 and a debt-to-equity ratio of 1.27. The stock’s 50 day moving average price is $13.51 and its two-hundred day moving average price is $14.25. The firm has a market capitalization of $2.48 billion, a price-to-earnings ratio of 12.13, a P/E/G ratio of 1.51 and a beta of 2.00.

Park Hotels & Resorts (NYSE:PK) last released 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). The firm had revenue of $625.00 million during the quarter, compared to analyst estimates of $609.05 million. Park Hotels & Resorts had a return on equity of 5.63% and a net margin of 8.16%. Analysts anticipate that Park Hotels & Resorts Inc. will post 2.11 EPS for the current fiscal year.

Park Hotels & Resorts Cuts Dividend

The business 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 annualized dividend and a yield of 8.16%. Park Hotels & Resorts’s dividend payout ratio (DPR) is currently 99.01%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Harbor Capital Advisors Inc. acquired a new position in shares of Park Hotels & Resorts during the third quarter worth approximately $33,000. Quarry LP acquired a new position in Park Hotels & Resorts during the 4th quarter valued at $35,000. GF Fund Management CO. LTD. bought a new stake in Park Hotels & Resorts in the 4th quarter valued at $53,000. Venturi Wealth Management LLC grew its position in Park Hotels & Resorts by 281.6% in the 3rd quarter. Venturi Wealth Management LLC now owns 3,850 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 2,841 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its holdings in shares of Park Hotels & Resorts by 38.4% during the 4th quarter. Quadrant Capital Group LLC now owns 4,814 shares of the financial services provider’s stock worth $68,000 after purchasing an additional 1,335 shares during the period. Institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Company Profile

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.