Truist Financial Issues Pessimistic Forecast for Park Hotels & Resorts (NYSE:PK) Stock Price

Park Hotels & Resorts (NYSE:PK) had its price objective cut by Truist Financial from $18.00 to $16.00 in a report released on Friday morning,Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

A number of other analysts also recently weighed in on PK. UBS Group reduced their target price on shares of Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. Wells Fargo & Company reduced their target price on shares of Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 18th. Jefferies Financial Group reduced their target price 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. Finally, StockNews.com cut shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research note on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Park Hotels & Resorts presently has a consensus rating of “Hold” and a consensus price target of $17.72.

Park Hotels & Resorts Stock Down 3.5 %

NYSE:PK opened at $11.19 on Friday. The firm’s 50-day moving average price is $12.73 and its 200-day moving average price is $13.93. The company has a market capitalization of $2.26 billion, a PE ratio of 11.07, a P/E/G ratio of 1.51 and a beta of 2.02. 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 has a 1-year low of $10.87 and a 1-year high of $17.96.

Park Hotels & Resorts (NYSE:PK) last released its earnings results on Wednesday, February 19th. The financial services provider reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.01). The business had revenue of $625.00 million during the quarter, compared to analysts’ expectations of $609.05 million. Park Hotels & Resorts had a return on equity of 5.63% and a net margin of 8.16%. On average, equities analysts predict that Park Hotels & Resorts will post 2.11 EPS for the current fiscal year.

Park Hotels & Resorts Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders 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 yield of 8.94%. The ex-dividend date is Monday, March 31st. Park Hotels & Resorts’s dividend payout ratio is currently 99.01%.

Hedge Funds Weigh In On Park Hotels & Resorts

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Park Hotels & Resorts by 0.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 79,994 shares of the financial services provider’s stock worth $1,128,000 after purchasing an additional 752 shares during the period. Assetmark Inc. lifted its stake in shares of Park Hotels & Resorts by 3.4% in the 4th quarter. Assetmark Inc. now owns 23,355 shares of the financial services provider’s stock worth $329,000 after purchasing an additional 764 shares during the period. Coldstream Capital Management Inc. lifted its stake in shares of Park Hotels & Resorts by 7.3% in the 4th quarter. Coldstream Capital Management Inc. now owns 11,931 shares of the financial services provider’s stock worth $168,000 after purchasing an additional 813 shares during the period. Xponance Inc. lifted its stake in shares of Park Hotels & Resorts by 3.8% in the 4th quarter. Xponance Inc. now owns 24,650 shares of the financial services provider’s stock worth $347,000 after purchasing an additional 892 shares during the period. Finally, Cascade Investment Advisors Inc. lifted its stake in shares of Park Hotels & Resorts by 1.3% in the 4th quarter. Cascade Investment Advisors Inc. now owns 73,487 shares of the financial services provider’s stock worth $1,034,000 after purchasing an additional 915 shares during the period. Institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Company Profile

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.