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

Park Hotels & Resorts Inc. (NYSE:PK) has earned an average recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $18.65.

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company raised their price target on shares of Park Hotels & Resorts from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Monday, December 9th. UBS Group boosted their price target on shares of Park Hotels & Resorts from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Monday, November 18th. Compass Point decreased their price objective on Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Bank of America reduced their price target on Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating for the company in a research report on Monday, October 21st. Finally, Wolfe Research lowered Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 26th.

Park Hotels & Resorts Price Performance

PK opened at $13.67 on Wednesday. The company has a fifty day moving average price of $14.87 and a two-hundred day moving average price of $14.62. The firm has a market capitalization of $2.82 billion, a PE ratio of 8.71, a P/E/G ratio of 6.90 and a beta of 2.02. Park Hotels & Resorts has a 52 week low of $13.23 and a 52 week high of $18.05. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.51 and a current ratio of 1.51.

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

Park Hotels & Resorts Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a $0.65 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from Park Hotels & Resorts’s previous quarterly dividend of $0.25. This represents a $2.60 annualized dividend and a yield of 19.02%. Park Hotels & Resorts’s dividend payout ratio (DPR) is currently 63.69%.

Hedge Funds Weigh In On Park Hotels & Resorts

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. bought a new position in Park Hotels & Resorts during the third quarter worth $33,000. Venturi Wealth Management LLC boosted its position in shares of Park Hotels & Resorts by 281.6% during the 3rd quarter. Venturi Wealth Management LLC now owns 3,850 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 2,841 shares in the last quarter. Quarry LP grew its stake in Park Hotels & Resorts by 82.1% during the second quarter. Quarry LP now owns 4,118 shares of the financial services provider’s stock worth $62,000 after purchasing an additional 1,857 shares during the period. Claro Advisors LLC bought a new stake in Park Hotels & Resorts in the third quarter worth approximately $69,000. Finally, Covestor Ltd lifted its stake in Park Hotels & Resorts by 64.8% in the third quarter. Covestor Ltd now owns 6,894 shares of the financial services provider’s stock valued at $97,000 after buying an additional 2,711 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

About Park Hotels & Resorts

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.