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

Park Hotels & Resorts Inc. (NYSE:PK) has been given a consensus recommendation of “Moderate Buy” by the ten ratings firms that are presently covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $17.72.

Several analysts have recently issued reports on the company. Truist Financial decreased their price target on Park Hotels & Resorts from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, March 21st. Wells Fargo & Company dropped their price target 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. UBS Group decreased 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. Jefferies Financial Group dropped 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 report on Thursday, January 2nd. Finally, StockNews.com cut shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Friday, February 21st.

Park Hotels & Resorts Stock Performance

PK stock opened at $11.28 on Monday. The firm has a 50 day moving average of $12.59 and a two-hundred day moving average of $13.87. Park Hotels & Resorts has a 12 month low of $10.87 and a 12 month high of $17.87. The company has a market capitalization of $2.28 billion, a price-to-earnings ratio of 11.16, a P/E/G ratio of 1.51 and a beta of 2.02. The company has a quick ratio of 1.51, a current ratio of 1.19 and a debt-to-equity ratio of 1.27.

Park Hotels & Resorts (NYSE:PK) last issued its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $0.39 earnings per share (EPS) 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 the consensus estimate of $609.05 million. Park Hotels & Resorts had a return on equity of 5.63% and a net margin of 8.16%. As a group, equities analysts anticipate that Park Hotels & Resorts will post 2.11 EPS for the current fiscal year.

Park Hotels & Resorts Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 8.87%. The ex-dividend date is Monday, March 31st. Park Hotels & Resorts’s payout ratio is presently 99.01%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Norges Bank bought a new stake in Park Hotels & Resorts in the 4th quarter valued at $41,087,000. Deutsche Bank AG boosted its position 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 valued at $33,988,000 after acquiring an additional 2,149,972 shares in the last quarter. Landmark Investment Partners L.P. bought a new stake in Park Hotels & Resorts in the fourth quarter valued at about $21,342,000. Invesco Ltd. raised its position in Park Hotels & Resorts by 84.0% in the fourth quarter. Invesco Ltd. now owns 2,837,917 shares of the financial services provider’s stock worth $39,929,000 after purchasing an additional 1,295,548 shares in the last quarter. Finally, Donald Smith & CO. Inc. lifted its stake in Park Hotels & Resorts by 13.9% during the fourth quarter. Donald Smith & CO. Inc. now owns 9,200,125 shares of the financial services provider’s stock worth $129,446,000 after purchasing an additional 1,122,839 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

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.