Park Hotels & Resorts (PK) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Park Hotels & Resorts (NYSE:PK) from a hold rating to a sell rating in a research note published on Saturday, December 30th.

According to Zacks, “Park Hotels & Resorts Inc. is a lodging Real Estate Company. The company operates luxury hotels and resorts in USA and international market. Park Hotels & Resorts Inc. is based in Mc Lean, Virginia. “

Other analysts also recently issued research reports about the stock. Nomura boosted their price objective on shares of Park Hotels & Resorts from $32.00 to $33.00 and gave the company a buy rating in a report on Monday, November 6th. Boenning Scattergood reaffirmed a buy rating on shares of Park Hotels & Resorts in a report on Monday, November 6th. SunTrust Banks raised shares of Park Hotels & Resorts from a hold rating to a buy rating in a report on Thursday, December 21st. Finally, Evercore ISI raised shares of Park Hotels & Resorts from an in-line rating to an outperform rating in a report on Monday, December 4th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $36.08.

Park Hotels & Resorts (NYSE PK) opened at $28.95 on Friday. Park Hotels & Resorts has a 52 week low of $24.65 and a 52 week high of $29.90. The company has a market cap of $6,220.00 and a PE ratio of 2.41. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.50.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings data on Thursday, November 2nd. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.01. The firm had revenue of $688.00 million during the quarter, compared to the consensus estimate of $676.76 million. Park Hotels & Resorts had a net margin of 93.04% and a return on equity of 46.66%. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.66 EPS. equities analysts forecast that Park Hotels & Resorts will post 2.73 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be given a $0.55 dividend. This is a boost from Park Hotels & Resorts’s previous quarterly dividend of $0.43. This represents a $2.20 annualized dividend and a yield of 7.60%. The ex-dividend date of this dividend is Thursday, December 28th. Park Hotels & Resorts’s dividend payout ratio is 18.32%.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Pacer Advisors Inc. increased its position in shares of Park Hotels & Resorts by 53.9% during the second quarter. Pacer Advisors Inc. now owns 5,938 shares of the financial services provider’s stock worth $160,000 after buying an additional 2,080 shares during the period. Canada Pension Plan Investment Board acquired a new stake in shares of Park Hotels & Resorts during the third quarter worth $179,000. Parallel Advisors LLC increased its position in shares of Park Hotels & Resorts by 51.9% during the third quarter. Parallel Advisors LLC now owns 7,273 shares of the financial services provider’s stock worth $209,000 after buying an additional 2,484 shares during the period. QS Investors LLC increased its position in shares of Park Hotels & Resorts by 0.3% during the second quarter. QS Investors LLC now owns 7,535 shares of the financial services provider’s stock worth $203,000 after buying an additional 22 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Park Hotels & Resorts by 148.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,962 shares of the financial services provider’s stock worth $242,000 after buying an additional 5,360 shares during the period. Hedge funds and other institutional investors own 99.13% of the company’s stock.

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Park Hotels & Resorts Company Profile

Park Hotels & Resorts Inc is a lodging real estate company. The Company has a portfolio of hotels and resorts. The Company operates through ownership segment, which includes all of its hotel properties. As of December 31, 2016, the Company’s portfolio consisted of 67 hotels and resorts with over 35,000 rooms located in the United States and international markets.

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