Park Hotels & Resorts Inc. (NYSE:PK) Receives $17.72 Consensus Target Price from Brokerages

Shares of Park Hotels & Resorts Inc. (NYSE:PK) have been given an average recommendation of “Moderate Buy” by the ten ratings firms that are covering the company, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $17.72.

A number of equities analysts have weighed in on PK shares. Wells Fargo & Company cut their target price on shares of Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 18th. UBS Group cut their price objective on shares of Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. StockNews.com cut shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Friday, February 21st. Truist Financial dropped their target price on Park Hotels & Resorts from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. Finally, Jefferies Financial Group reduced their price target on Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd.

Park Hotels & Resorts Price Performance

Park Hotels & Resorts stock opened at $10.90 on Monday. The business’s 50 day simple moving average is $12.48 and its 200 day simple moving average is $13.83. Park Hotels & Resorts has a 12 month low of $10.66 and a 12 month high of $17.87. The company has a market cap of $2.20 billion, a price-to-earnings ratio of 10.79, a PEG ratio of 1.51 and a beta of 2.02. 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 issued its 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). The firm had revenue of $625.00 million during 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%. Sell-side analysts forecast that Park Hotels & Resorts will post 2.11 EPS for the current year.

Park Hotels & Resorts Cuts Dividend

The firm 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 dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 9.18%. The ex-dividend date is Monday, March 31st. Park Hotels & Resorts’s payout ratio is 99.01%.

Institutional Trading of Park Hotels & Resorts

Several institutional investors and hedge funds have recently modified their holdings of PK. Quarry LP purchased a new position in shares of Park Hotels & Resorts during the fourth quarter worth about $35,000. GF Fund Management CO. LTD. bought a new stake in Park Hotels & Resorts during the fourth quarter valued at approximately $53,000. Quadrant Capital Group LLC lifted its position in Park Hotels & Resorts by 38.4% during the fourth quarter. Quadrant Capital Group LLC now owns 4,814 shares of the financial services provider’s stock valued at $68,000 after purchasing an additional 1,335 shares during the last quarter. Jones Financial Companies Lllp grew its stake in Park Hotels & Resorts by 42.2% in the 4th quarter. Jones Financial Companies Lllp now owns 7,992 shares of the financial services provider’s stock worth $112,000 after buying an additional 2,373 shares in the last quarter. Finally, CIBC Private Wealth Group LLC bought a new position in shares of Park Hotels & Resorts in the 4th quarter worth $112,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

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.