Park Hotels & Resorts (NYSE:PK) Posts Earnings Results

Park Hotels & Resorts (NYSE:PK) released its quarterly earnings results on Wednesday. The financial services provider reported $0.39 EPS for the quarter, beating the consensus estimate of $0.02 by $0.37, Zacks reports. Park Hotels & Resorts had a negative net margin of 6.41% and a negative return on equity of 5.23%. The firm had revenue of $602.00 million during the quarter, compared to analyst estimates of $601.95 million. During the same quarter in the prior year, the firm earned $0.35 EPS. The business’s revenue for the quarter was down 1.3% compared to the same quarter last year.

Park Hotels & Resorts Price Performance

Shares of PK stock traded up $0.25 on Wednesday, hitting $16.97. 5,014,472 shares of the stock traded hands, compared to its average volume of 4,388,964. The firm has a market cap of $3.42 billion, a price-to-earnings ratio of 8.32 and a beta of 1.41. Park Hotels & Resorts has a 52 week low of $9.84 and a 52 week high of $17.14. The firm has a 50 day simple moving average of $15.69 and a two-hundred day simple moving average of $13.31. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.53 and a quick ratio of 1.53.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on PK shares. UBS Group raised shares of Park Hotels & Resorts from a “neutral” rating to a “hold” rating in a report on Monday, September 28th. Zacks Research raised shares of Park Hotels & Resorts from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 29th. Raymond James Financial upgraded shares of Park Hotels & Resorts from a “market perform” rating to a “strong-buy” rating and set a $19.00 price target on the stock in a research report on Monday, September 28th. Barclays lifted their price target on shares of Park Hotels & Resorts from $12.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 27th. Finally, Evercore set a $17.00 price objective on shares of Park Hotels & Resorts in a research report on Monday, October 26th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $16.64.

About Park Hotels & Resorts

Park Hotels & Resorts Inc (NYSE: PK) is a real estate investment trust focused on owning and operating hotels and resorts. The company’s portfolio includes full-service properties in major business and leisure destinations, with hotels operating under Hilton brands as well as other nationally recognized and independent brands.

Park’s properties provide lodging, food and beverage, meeting and event facilities, and other hospitality services. Its hotels are located primarily in the United States, including gateway cities, convention markets, and resort destinations.

Park Hotels & Resorts was formed in 2017 through a spin-off from Hilton Worldwide Holdings.