Park Hotels & Resorts (NYSE:PK) Cut to “Sell” at StockNews.com

StockNews.com downgraded shares of Park Hotels & Resorts (NYSE:PK) from a hold rating to a sell rating in a report released on Friday.

A number of other brokerages have also weighed in on PK. UBS Group decreased their target price on 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. Jefferies Financial Group cut their price objective on Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Compass Point dropped their target price 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. Finally, Wells Fargo & Company dropped their target price 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. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Park Hotels & Resorts presently has an average rating of “Hold” and an average target price of $18.15.

Park Hotels & Resorts Stock Performance

Shares of PK stock opened at $12.63 on Friday. The business’s 50-day moving average price is $13.77 and its 200-day moving average price is $14.31. Park Hotels & Resorts has a 12 month low of $12.52 and a 12 month high of $18.05. The firm has a market capitalization of $2.55 billion, a price-to-earnings ratio of 12.51, a PEG ratio of 1.51 and a beta of 2.00. The company has a current ratio of 1.19, a quick ratio of 1.51 and a debt-to-equity ratio of 1.27.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $0.39 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.01). The firm had revenue of $625.00 million for the quarter, compared to the consensus estimate of $609.05 million. Park Hotels & Resorts had a net margin of 8.16% and a return on equity of 5.63%. Equities research analysts forecast that Park Hotels & Resorts will post 2.11 EPS for the current year.

Park Hotels & Resorts Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 7.92%. The ex-dividend date is Monday, March 31st. Park Hotels & Resorts’s payout ratio is 99.01%.

Institutional Investors Weigh In On Park Hotels & Resorts

Several hedge funds have recently added to or reduced their stakes in PK. Norges Bank purchased a new stake in Park Hotels & Resorts in the fourth quarter valued at $41,087,000. Deutsche Bank AG boosted its stake in shares of Park Hotels & Resorts by 809.3% during the 4th quarter. Deutsche Bank AG now owns 2,415,621 shares of the financial services provider’s stock worth $33,988,000 after acquiring an additional 2,149,972 shares in the last quarter. Landmark Investment Partners L.P. purchased a new stake in shares of Park Hotels & Resorts during the 4th quarter worth about $21,342,000. Donald Smith & CO. Inc. boosted its stake 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 worth $113,890,000 after acquiring an additional 1,484,295 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Park Hotels & Resorts by 84.0% during the 4th quarter. Invesco Ltd. now owns 2,837,917 shares of the financial services provider’s stock worth $39,929,000 after acquiring an additional 1,295,548 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

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.