Analysts Set Park Hotels & Resorts Inc. (NYSE:PK) Price Target at $18.65

Park Hotels & Resorts Inc. (NYSE:PK) has been given an average recommendation of “Moderate Buy” by the eleven ratings firms that are covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $18.65.

Several research firms recently weighed in on PK. Bank of America cut their price target on shares of Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating on the stock in a report on Monday, October 21st. UBS Group lifted their price target on shares of Park Hotels & Resorts from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Monday, November 18th. Wolfe Research cut shares of Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 26th. StockNews.com cut shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Tuesday, January 7th. Finally, Compass Point cut their price target on shares of Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, October 31st.

Park Hotels & Resorts Stock Up 0.1 %

Shares of Park Hotels & Resorts stock opened at $13.72 on Wednesday. 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 has a 52-week low of $13.22 and a 52-week high of $18.05. The stock has a market capitalization of $2.83 billion, a price-to-earnings ratio of 8.74, a P/E/G ratio of 6.90 and a beta of 2.02. The company’s 50 day moving average price is $14.83 and its 200-day moving average price is $14.58.

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

Park Hotels & Resorts Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.65 dividend. This is a boost from Park Hotels & Resorts’s previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, December 31st. This represents a $2.60 dividend on an annualized basis and a yield of 18.95%. Park Hotels & Resorts’s payout ratio is presently 63.69%.

Hedge Funds Weigh In On Park Hotels & Resorts

Hedge funds have recently bought and sold shares of the company. Algert Global LLC boosted its stake in Park Hotels & Resorts by 48.6% in the 2nd quarter. Algert Global LLC now owns 752,273 shares of the financial services provider’s stock worth $11,269,000 after purchasing an additional 245,973 shares in the last quarter. XTX Topco Ltd boosted its stake in 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 worth $1,257,000 after purchasing an additional 72,044 shares in the last quarter. Quantbot Technologies LP boosted its stake in Park Hotels & Resorts by 95.7% in the 2nd quarter. Quantbot Technologies LP now owns 367,900 shares of the financial services provider’s stock worth $5,511,000 after purchasing an additional 179,884 shares in the last quarter. National Bank of Canada FI boosted its stake in Park Hotels & Resorts by 70.9% in the 2nd quarter. National Bank of Canada FI now owns 223,600 shares of the financial services provider’s stock worth $3,298,000 after purchasing an additional 92,800 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in Park Hotels & Resorts by 287.7% in the 2nd quarter. AQR Capital Management LLC now owns 5,252,853 shares of the financial services provider’s stock worth $77,217,000 after purchasing an additional 3,897,889 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

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.