Park Hotels & Resorts (PK) Hits New 52-Week High and Low at $30.87

Shares of Park Hotels & Resorts (NYSE:PK) hit a new 52-week high and low on Friday . The company traded as low as $30.87 and last traded at $30.91, with a volume of 88026 shares traded. The stock had previously closed at $30.50.

PK has been the subject of a number of recent research reports. Deutsche Bank increased their price target on shares of Park Hotels & Resorts from $29.00 to $30.00 and gave the stock a “hold” rating in a research note on Friday, February 9th. Boenning Scattergood cut shares of Park Hotels & Resorts from an “outperform” rating to a “neutral” rating in a research note on Wednesday, February 21st. Citigroup initiated coverage on shares of Park Hotels & Resorts in a research note on Tuesday, February 27th. They set a “neutral” rating and a $27.50 price target for the company. Nomura decreased their price target on shares of Park Hotels & Resorts from $33.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, March 1st. Finally, Bank of America cut shares of Park Hotels & Resorts from a “neutral” rating to an “underperform” rating in a research note on Monday, March 5th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $37.45.

The stock has a market capitalization of $6.11 billion, a P/E ratio of 11.13, a price-to-earnings-growth ratio of 2.17 and a beta of 0.21. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.35 and a current ratio of 1.35.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings data on Thursday, May 3rd. The financial services provider reported $0.71 EPS for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.08. The company had revenue of $668.00 million during the quarter, compared to the consensus estimate of $646.90 million. Park Hotels & Resorts had a net margin of 15.31% and a return on equity of 6.57%. Park Hotels & Resorts’s quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.64 EPS. analysts forecast that Park Hotels & Resorts will post 2.8 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 16th. Shareholders of record on Friday, June 29th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Thursday, June 28th. This represents a $1.72 dividend on an annualized basis and a yield of 5.56%. Park Hotels & Resorts’s payout ratio is currently 61.87%.

In other Park Hotels & Resorts news, EVP Matthew Abram Sparks sold 12,877 shares of the company’s stock in a transaction on Monday, May 7th. The shares were sold at an average price of $29.87, for a total transaction of $384,635.99. Following the completion of the transaction, the executive vice president now owns 46,931 shares in the company, valued at approximately $1,401,828.97. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.38% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Eaton Vance Management increased its holdings in shares of Park Hotels & Resorts by 17.9% in the 1st quarter. Eaton Vance Management now owns 14,204 shares of the financial services provider’s stock valued at $384,000 after purchasing an additional 2,152 shares in the last quarter. California State Teachers Retirement System increased its holdings in shares of Park Hotels & Resorts by 0.9% in the 4th quarter. California State Teachers Retirement System now owns 242,685 shares of the financial services provider’s stock valued at $6,977,000 after purchasing an additional 2,278 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Park Hotels & Resorts by 10.8% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 29,792 shares of the financial services provider’s stock valued at $857,000 after purchasing an additional 2,911 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of Park Hotels & Resorts by 2.0% in the 4th quarter. Rhumbline Advisers now owns 151,344 shares of the financial services provider’s stock valued at $4,351,000 after purchasing an additional 2,945 shares in the last quarter. Finally, American International Group Inc. increased its holdings in shares of Park Hotels & Resorts by 170.0% in the 4th quarter. American International Group Inc. now owns 4,773 shares of the financial services provider’s stock valued at $137,000 after purchasing an additional 3,005 shares in the last quarter.

About Park Hotels & Resorts

Park is a leading lodging REIT with a diverse portfolio of hotels and resorts with significant underlying real estate value. Park's portfolio consists of 55 premium-branded hotels and resorts with over 32,000 rooms located in prime United States and international markets with high barriers to entry.

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