Park Hotels & Resorts (PK) to Release Earnings on Tuesday

Park Hotels & Resorts (NYSE:PK) will announce its earnings results after the market closes on Tuesday, October 29th. Analysts expect the company to announce earnings of $0.48 per share for the quarter. Park Hotels & Resorts has set its FY24 guidance at $2.10-2.26 EPS and its FY 2024 guidance at 2.100-2.260 EPS.Parties that are interested in registering for the company’s conference call can do so using this link.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.30). The business had revenue of $686.00 million for the quarter, compared to the consensus estimate of $694.94 million. Park Hotels & Resorts had a net margin of 11.50% and a return on equity of 8.77%. On average, analysts expect Park Hotels & Resorts to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Park Hotels & Resorts Price Performance

NYSE PK opened at $13.96 on Tuesday. Park Hotels & Resorts has a 1 year low of $11.05 and a 1 year high of $18.05. The business’s fifty day moving average is $14.48 and its two-hundred day moving average is $15.11. The stock has a market capitalization of $2.94 billion, a P/E ratio of 31.73, a P/E/G ratio of 0.70 and a beta of 2.02. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.58 and a current ratio of 1.58.

Park Hotels & Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 7.16%. The ex-dividend date was Monday, September 30th. Park Hotels & Resorts’s dividend payout ratio is presently 227.27%.

Analyst Ratings Changes

A number of brokerages recently commented on PK. StockNews.com downgraded shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Monday, October 14th. Wells Fargo & Company dropped their price target on shares of Park Hotels & Resorts from $17.00 to $14.50 and set an “equal weight” rating on the stock in a research note on Friday, September 13th. Wolfe Research lowered Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 26th. Evercore ISI lowered their target price on Park Hotels & Resorts from $20.00 to $19.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 13th. Finally, UBS Group dropped their target price on Park Hotels & Resorts from $18.00 to $14.00 and set a “neutral” rating on the stock in a research report on Friday, August 16th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $17.00.

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.