Park Hotels & Resorts Inc. (NYSE:PK) Given Average Rating of “Hold” by Analysts

Shares of Park Hotels & Resorts Inc. (NYSE:PK) have earned an average recommendation of “Hold” from the eleven research firms that are presently covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $17.27.

A number of equities analysts have recently weighed in on the company. Citigroup raised Park Hotels & Resorts from a “neutral” rating to a “buy” rating and upped their target price for the stock from $14.00 to $20.00 in a research report on Friday, March 22nd. StockNews.com upgraded shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. Barclays lifted their price objective on shares of Park Hotels & Resorts from $19.00 to $21.00 and gave the company an “overweight” rating in a report on Friday, March 1st. UBS Group raised their price target on shares of Park Hotels & Resorts from $14.00 to $18.00 and gave the company a “neutral” rating in a research report on Wednesday, March 6th. Finally, Wells Fargo & Company boosted their price objective on Park Hotels & Resorts from $17.00 to $18.00 and gave the stock an “equal weight” rating in a report on Thursday, March 21st.

Park Hotels & Resorts Stock Up 1.0 %

Park Hotels & Resorts stock opened at $15.96 on Friday. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 1.20. The company has a market capitalization of $3.36 billion, a PE ratio of 36.26, a PEG ratio of 0.83 and a beta of 2.03. The firm’s fifty day moving average is $16.95 and its 200 day moving average is $15.67. Park Hotels & Resorts has a 12-month low of $11.05 and a 12-month high of $18.05.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings data on Tuesday, February 27th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.39. The company had revenue of $657.00 million for the quarter, compared to analysts’ expectations of $665.16 million. Park Hotels & Resorts had a net margin of 3.42% and a return on equity of 3.08%. As a group, sell-side analysts predict that Park Hotels & Resorts will post 2.06 EPS for the current fiscal year.

Park Hotels & Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a $0.25 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.00 annualized dividend and a yield of 6.27%. Park Hotels & Resorts’s dividend payout ratio is currently 227.27%.

Institutional Trading of Park Hotels & Resorts

Large investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of Park Hotels & Resorts during the 4th quarter valued at approximately $31,745,000. Los Angeles Capital Management LLC grew its holdings in Park Hotels & Resorts by 601.1% during the first quarter. Los Angeles Capital Management LLC now owns 2,111,004 shares of the financial services provider’s stock valued at $36,921,000 after purchasing an additional 1,809,886 shares during the period. Donald Smith & CO. Inc. increased its position in Park Hotels & Resorts by 36.0% in the fourth quarter. Donald Smith & CO. Inc. now owns 6,529,666 shares of the financial services provider’s stock worth $99,904,000 after buying an additional 1,728,921 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Park Hotels & Resorts by 3,694.6% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 1,355,522 shares of the financial services provider’s stock valued at $20,739,000 after buying an additional 1,319,800 shares during the period. Finally, SG Americas Securities LLC lifted its position in shares of Park Hotels & Resorts by 15,714.0% during the 1st quarter. SG Americas Securities LLC now owns 1,301,019 shares of the financial services provider’s stock valued at $22,755,000 after buying an additional 1,292,792 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

About Park Hotels & Resorts

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.