Park Hotels & Resorts Inc. (NYSE:PK) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Park Hotels & Resorts Inc. (NYSE:PK) have earned a consensus rating of “Moderate Buy” from the eleven analysts that are presently covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $18.55.

Several research firms have issued reports on PK. StockNews.com downgraded shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Compass Point decreased 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. Bank of America decreased 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 research note on Monday, October 21st. Truist Financial decreased their price objective on shares of Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. Finally, UBS Group upped their target price on shares of Park Hotels & Resorts from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Monday, November 18th.

Park Hotels & Resorts Stock Performance

NYSE:PK opened at $15.28 on Friday. Park Hotels & Resorts has a 1-year low of $13.23 and a 1-year high of $18.05. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.51 and a quick ratio of 1.51. The firm has a 50 day simple moving average of $14.68 and a 200-day simple moving average of $14.70. The firm has a market cap of $3.15 billion, a PE ratio of 9.73, a P/E/G ratio of 7.02 and a beta of 2.03.

Park Hotels & Resorts (NYSE:PK) last issued its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.26 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.21). Park Hotels & Resorts had a return on equity of 9.63% and a net margin of 12.66%. The company had revenue of $649.00 million for the quarter, compared to analyst estimates of $646.15 million. During the same period last year, the company posted $0.51 EPS. The business’s revenue for the quarter was down 4.4% on a year-over-year basis. On average, equities analysts expect that Park Hotels & Resorts will post 1.96 EPS for the current year.

Park Hotels & Resorts Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 17.02%. This is a boost from Park Hotels & Resorts’s previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, December 31st. Park Hotels & Resorts’s dividend payout ratio is 63.69%.

Institutional Trading of Park Hotels & Resorts

A number of large investors have recently modified their holdings of PK. Nisa Investment Advisors LLC increased its holdings in shares of Park Hotels & Resorts by 13.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 154,088 shares of the financial services provider’s stock worth $2,344,000 after acquiring an additional 18,075 shares during the period. Pallas Capital Advisors LLC acquired a new position in Park Hotels & Resorts during the 2nd quarter valued at about $610,000. Summit Global Investments acquired a new position in Park Hotels & Resorts during the 2nd quarter valued at about $1,250,000. Bailard Inc. increased its stake in Park Hotels & Resorts by 9.4% during the 2nd quarter. Bailard Inc. now owns 44,200 shares of the financial services provider’s stock valued at $662,000 after buying an additional 3,800 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Park Hotels & Resorts by 4.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 91,290 shares of the financial services provider’s stock valued at $1,368,000 after buying an additional 4,072 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

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.