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

Shares of Park Hotels & Resorts Inc. (NYSE:PK) have been given an average recommendation of “Moderate Buy” by the eleven analysts that are covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $18.15.

A number of research analysts have issued reports on PK shares. Wells Fargo & Company cut their price objective on Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating for the company in a report on Tuesday, February 18th. Jefferies Financial Group reduced their price target on shares of Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. UBS Group decreased their price objective on shares of Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. StockNews.com cut shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research note on Friday, February 21st. Finally, Compass Point dropped their price target 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.

Institutional Trading of Park Hotels & Resorts

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. XTX Topco Ltd boosted its stake in shares of Park Hotels & Resorts by 420.7% in the 3rd quarter. XTX Topco Ltd now owns 89,168 shares of the financial services provider’s stock valued at $1,257,000 after purchasing an additional 72,044 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Park Hotels & Resorts by 488.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 83,473 shares of the financial services provider’s stock valued at $1,177,000 after acquiring an additional 69,296 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Park Hotels & Resorts by 321.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,409,574 shares of the financial services provider’s stock worth $19,875,000 after acquiring an additional 1,075,255 shares during the period. Donald Smith & CO. Inc. raised its position in shares of Park Hotels & Resorts by 22.5% during the 3rd quarter. Donald Smith & CO. Inc. now owns 8,077,286 shares of the financial services provider’s stock valued at $113,890,000 after acquiring an additional 1,484,295 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Park Hotels & Resorts by 18.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,488,097 shares of the financial services provider’s stock valued at $49,182,000 after purchasing an additional 540,920 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Park Hotels & Resorts Trading Down 0.2 %

Shares of Park Hotels & Resorts stock opened at $12.33 on Thursday. The company’s fifty day moving average price is $13.65 and its two-hundred day moving average price is $14.29. The firm has a market capitalization of $2.49 billion, a PE ratio of 12.21, a price-to-earnings-growth ratio of 1.51 and a beta of 2.00. Park Hotels & Resorts has a 52-week low of $12.23 and a 52-week high of $18.05. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.19 and a quick ratio of 1.51.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.39 earnings per share (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 business had revenue of $625.00 million during the quarter, compared to analyst estimates of $609.05 million. On average, analysts expect that Park Hotels & Resorts will post 2.11 EPS for the current year.

Park Hotels & Resorts Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 8.11%. The ex-dividend date is Monday, March 31st. Park Hotels & Resorts’s dividend payout ratio (DPR) is presently 99.01%.

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.