Park Hotels & Resorts (NYSE:PK) Upgraded to Outperform at Evercore ISI

Evercore ISI upgraded shares of Park Hotels & Resorts (NYSE:PK) from an in-line rating to an outperform rating in a research report report published on Thursday, The Fly reports. Evercore ISI currently has $31.00 price target on the financial services provider’s stock, down from their prior price target of $33.00.

A number of other equities analysts have also recently commented on the company. Zacks Investment Research cut Park Hotels & Resorts from a hold rating to a sell rating in a report on Thursday. Citigroup decreased their target price on Park Hotels & Resorts from $31.00 to $25.00 and set a neutral rating on the stock in a report on Thursday, September 5th. Capital One Financial assumed coverage on Park Hotels & Resorts in a report on Tuesday, June 25th. They issued an overweight rating and a $34.00 target price on the stock. UBS Group set a $24.00 target price on Park Hotels & Resorts and gave the stock a hold rating in a report on Friday, August 16th. Finally, Deutsche Bank set a $33.00 target price on Park Hotels & Resorts and gave the stock a hold rating in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. Park Hotels & Resorts presently has a consensus rating of Hold and an average price target of $30.82.

Park Hotels & Resorts stock traded up $0.75 during trading on Thursday, reaching $26.09. The company had a trading volume of 402,607 shares, compared to its average volume of 1,713,870. Park Hotels & Resorts has a 52 week low of $23.02 and a 52 week high of $33.81. The firm’s 50-day simple moving average is $24.50 and its 200 day simple moving average is $28.51. The firm has a market capitalization of $5.10 billion, a price-to-earnings ratio of 8.82, a price-to-earnings-growth ratio of 2.24 and a beta of 1.31. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.56.

Park Hotels & Resorts (NYSE:PK) last announced its earnings results on Wednesday, July 31st. The financial services provider reported $0.40 EPS for the quarter, missing the Zacks’ consensus estimate of $0.82 by ($0.42). Park Hotels & Resorts had a return on equity of 5.06% and a net margin of 10.52%. The company had revenue of $703.00 million during the quarter, compared to the consensus estimate of $694.08 million. During the same period in the prior year, the business posted $0.93 earnings per share. Park Hotels & Resorts’s revenue for the quarter was down 3.8% compared to the same quarter last year. On average, analysts predict that Park Hotels & Resorts will post 2.87 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.45 per share. The ex-dividend date is Friday, September 27th. This represents a $1.80 dividend on an annualized basis and a yield of 6.90%. Park Hotels & Resorts’s dividend payout ratio is presently 60.81%.

A number of large investors have recently bought and sold shares of PK. BlackRock Inc. raised its holdings in Park Hotels & Resorts by 14.0% during the first quarter. BlackRock Inc. now owns 21,489,474 shares of the financial services provider’s stock valued at $667,891,000 after acquiring an additional 2,635,511 shares during the period. Cohen & Steers Inc. raised its holdings in Park Hotels & Resorts by 9.5% during the second quarter. Cohen & Steers Inc. now owns 25,308,847 shares of the financial services provider’s stock valued at $697,512,000 after acquiring an additional 2,199,863 shares during the period. AJO LP raised its holdings in Park Hotels & Resorts by 97.7% during the first quarter. AJO LP now owns 4,199,461 shares of the financial services provider’s stock valued at $130,519,000 after acquiring an additional 2,075,172 shares during the period. Schroder Investment Management Group raised its holdings in Park Hotels & Resorts by 436.5% during the second quarter. Schroder Investment Management Group now owns 2,435,831 shares of the financial services provider’s stock valued at $67,132,000 after acquiring an additional 1,981,779 shares during the period. Finally, Brookfield Asset Management Inc. raised its holdings in Park Hotels & Resorts by 39.8% during the second quarter. Brookfield Asset Management Inc. now owns 6,036,967 shares of the financial services provider’s stock valued at $166,379,000 after acquiring an additional 1,720,152 shares during the period.

About Park Hotels & Resorts

Park is the second largest publicly traded lodging REIT with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio consists of 52 premium-branded hotels and resorts with over 30,000 rooms, a substantial portion of which are located in prime United States markets with high barriers to entry.

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Analyst Recommendations for Park Hotels & Resorts (NYSE:PK)

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