Park Hotels & Resorts (PK) to Release Earnings on Tuesday

Park Hotels & Resorts (NYSE:PK) will be posting its quarterly earnings results after the market closes on Tuesday, October 29th. Analysts expect Park Hotels & Resorts to post earnings of $0.48 per share for the quarter. Park Hotels & Resorts has set its FY24 guidance at $2.10-2.26 EPS and its FY 2024 guidance at 2.100-2.260 EPS.Investors interested in participating in the company’s conference call can do so using this link.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.30). The business had revenue of $686.00 million during the quarter, compared to the consensus estimate of $694.94 million. Park Hotels & Resorts had a net margin of 11.50% and a return on equity of 8.77%. On average, analysts expect Park Hotels & Resorts to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Park Hotels & Resorts Stock Performance

Shares of PK opened at $13.89 on Monday. The firm has a market capitalization of $2.90 billion, a P/E ratio of 9.65, a P/E/G ratio of 0.72 and a beta of 2.02. Park Hotels & Resorts has a 52 week low of $11.05 and a 52 week high of $18.05. The stock has a 50 day moving average price of $14.46 and a two-hundred day moving average price of $15.02. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.58 and a current ratio of 1.58.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. UBS Group decreased their price target on Park Hotels & Resorts from $18.00 to $14.00 and set a “neutral” rating for the company in a report on Friday, August 16th. Wells Fargo & Company reduced their target price on shares of Park Hotels & Resorts from $17.00 to $14.50 and set an “equal weight” rating for the company in a research note on Friday, September 13th. Bank of America lowered their target price on shares of Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating for the company in a report on Monday, October 21st. Truist Financial reduced their price objective on shares of Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Finally, Evercore ISI decreased their price objective on shares of Park Hotels & Resorts from $20.00 to $19.00 and set an “outperform” rating for the company in a research note on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Park Hotels & Resorts has an average rating of “Hold” and an average target price of $17.36.

Park Hotels & Resorts Company Profile

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.