Park Hotels & Resorts Inc (NYSE:PK) was the recipient of some unusual options trading activity on Tuesday. Stock traders purchased 833 call options on the company. This represents an increase of 1,090% compared to the typical daily volume of 70 call options.
Shares of Park Hotels & Resorts (PK) remained flat at $$27.04 on Wednesday. 2,921,514 shares of the company were exchanged, compared to its average volume of 2,435,088. The company has a market capitalization of $5,808.55, a price-to-earnings ratio of 2.20, a P/E/G ratio of 1.76 and a beta of 0.69. Park Hotels & Resorts has a 1 year low of $23.91 and a 1 year high of $29.93. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.50.
Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings results on Thursday, March 1st. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.65 by ($0.37). The company had revenue of $686.00 million during the quarter, compared to analysts’ expectations of $673.89 million. Park Hotels & Resorts had a return on equity of 43.23% and a net margin of 94.05%. The company’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.72 EPS. analysts anticipate that Park Hotels & Resorts will post 2.77 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Friday, March 30th will be issued a $0.43 dividend. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.36%. Park Hotels & Resorts’s dividend payout ratio is currently 17.89%.
A number of equities analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research note on Saturday, December 30th. JPMorgan Chase & Co. restated an “overweight” rating and issued a $28.00 target price (down from $30.00) on shares of Park Hotels & Resorts in a research note on Monday, March 5th. Deutsche Bank raised their target price on shares of Park Hotels & Resorts from $29.00 to $30.00 and gave the company a “hold” rating in a research note on Friday, February 9th. SunTrust Banks upgraded shares of Park Hotels & Resorts from a “hold” rating to a “buy” rating in a research note on Thursday, December 21st. Finally, Citigroup started coverage on shares of Park Hotels & Resorts in a research note on Tuesday, February 27th. They issued a “neutral” rating and a $27.50 target price for the company. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $36.23.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Zimmer Partners LP purchased a new position in shares of Park Hotels & Resorts during the fourth quarter worth $180,234,000. Bank of New York Mellon Corp raised its holdings in shares of Park Hotels & Resorts by 453.5% during the fourth quarter. Bank of New York Mellon Corp now owns 3,840,374 shares of the financial services provider’s stock worth $110,411,000 after purchasing an additional 3,146,572 shares during the last quarter. Schroder Investment Management Group raised its holdings in shares of Park Hotels & Resorts by 539.8% during the fourth quarter. Schroder Investment Management Group now owns 1,280,910 shares of the financial services provider’s stock worth $36,827,000 after purchasing an additional 1,080,700 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Park Hotels & Resorts by 18.6% during the third quarter. JPMorgan Chase & Co. now owns 6,507,881 shares of the financial services provider’s stock worth $179,554,000 after purchasing an additional 1,019,139 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new position in shares of Park Hotels & Resorts during the fourth quarter worth $25,368,000.
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About Park Hotels & Resorts
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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