Park Hotels & Resorts Inc. (NYSE:PK) Receives $18.55 Average Price Target from Analysts

Park Hotels & Resorts Inc. (NYSE:PK) has earned an average rating of “Moderate Buy” from the eleven brokerages that are currently covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $18.55.

PK has been the subject of several analyst reports. Compass Point lowered their price target on shares of Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Wolfe Research lowered shares of Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 26th. Truist Financial decreased their price target on shares of Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. Wells Fargo & Company increased their price objective on shares of Park Hotels & Resorts from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Monday, December 9th. Finally, UBS Group upped their price target on Park Hotels & Resorts from $14.00 to $15.00 and gave the stock a “neutral” rating in a research note on Monday, November 18th.

Hedge Funds Weigh In On Park Hotels & Resorts

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Harbor Capital Advisors Inc. acquired a new position in Park Hotels & Resorts in the third quarter valued at approximately $33,000. Venturi Wealth Management LLC boosted its holdings in shares of Park Hotels & Resorts by 281.6% in the 3rd quarter. Venturi Wealth Management LLC now owns 3,850 shares of the financial services provider’s stock valued at $54,000 after buying an additional 2,841 shares in the last quarter. Quarry LP grew its position in shares of Park Hotels & Resorts by 82.1% in the 2nd quarter. Quarry LP now owns 4,118 shares of the financial services provider’s stock valued at $62,000 after buying an additional 1,857 shares during the last quarter. Claro Advisors LLC acquired a new stake in Park Hotels & Resorts during the 3rd quarter worth $69,000. Finally, Covestor Ltd lifted its position 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 acquiring an additional 2,711 shares during the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Park Hotels & Resorts Stock Performance

Shares of Park Hotels & Resorts stock opened at $15.39 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.51 and a quick ratio of 1.51. The firm has a market cap of $3.18 billion, a price-to-earnings ratio of 9.87, a price-to-earnings-growth ratio of 6.90 and a beta of 2.03. The stock’s 50-day moving average is $14.70 and its 200-day moving average is $14.68. Park Hotels & Resorts has a one year low of $13.23 and a one year high of $18.05.

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

Park Hotels & Resorts Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.65 per share. This is a boost from Park Hotels & Resorts’s previous quarterly dividend of $0.25. This represents a $2.60 annualized dividend and a yield of 16.89%. The ex-dividend date of this dividend is Tuesday, December 31st. Park Hotels & Resorts’s dividend payout ratio (DPR) is presently 63.69%.

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.