Park Hotels & Resorts (NYSE:PK) Cut to Market Perform at Raymond James

Raymond James lowered shares of Park Hotels & Resorts (NYSE:PK) from an outperform rating to a market perform rating in a report released on Tuesday, January 7th, BenzingaRatingsTable reports. Raymond James currently has $26.00 price target on the financial services provider’s stock.

Several other equities analysts have also recently commented on PK. JPMorgan Chase & Co. restated an underweight rating and set a $23.00 target price on shares of Park Hotels & Resorts in a research report on Tuesday, September 24th. Barclays reaffirmed an overweight rating and issued a $30.00 price objective on shares of Park Hotels & Resorts in a research note on Friday, September 27th. Nomura reaffirmed a buy rating on shares of Park Hotels & Resorts in a report on Sunday, December 22nd. BMO Capital Markets assumed coverage on shares of Park Hotels & Resorts in a research note on Wednesday, October 16th. They issued a market perform rating and a $25.00 price target for the company. Finally, Evercore ISI upgraded shares of Park Hotels & Resorts from an in-line rating to an outperform rating and cut their price target for the company from $33.00 to $31.00 in a research report on Thursday, September 12th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. Park Hotels & Resorts presently has a consensus rating of Hold and a consensus target price of $28.73.

Shares of Park Hotels & Resorts stock traded up $0.21 during trading on Tuesday, hitting $24.77. 17,984 shares of the stock were exchanged, compared to its average volume of 1,891,429. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.32 and a current ratio of 1.32. Park Hotels & Resorts has a 12 month low of $21.68 and a 12 month high of $33.02. The stock’s fifty day moving average is $24.86 and its 200 day moving average is $24.70. The stock has a market cap of $5.93 billion, a PE ratio of 8.37, a P/E/G ratio of 2.30 and a beta of 1.33.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.64). The firm had revenue of $672.00 million during the quarter, compared to the consensus estimate of $658.27 million. Park Hotels & Resorts had a net margin of 8.71% and a return on equity of 4.09%. Sell-side analysts anticipate that Park Hotels & Resorts will post 2.77 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a $0.55 dividend. This is a positive change from Park Hotels & Resorts’s previous quarterly dividend of $0.45. This represents a $2.20 dividend on an annualized basis and a dividend yield of 8.88%. The ex-dividend date was Monday, December 30th. Park Hotels & Resorts’s dividend payout ratio is presently 74.32%.

A number of large investors have recently bought and sold shares of the business. Benjamin F. Edwards & Company Inc. bought a new position in Park Hotels & Resorts during the third quarter valued at approximately $29,000. Parallel Advisors LLC increased its stake in Park Hotels & Resorts by 237.3% in the third quarter. Parallel Advisors LLC now owns 1,238 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 871 shares during the period. San Francisco Sentry Investment Group CA purchased a new stake in Park Hotels & Resorts in the third quarter worth $56,000. Advisor Group Inc. increased its stake in Park Hotels & Resorts by 34.2% in the second quarter. Advisor Group Inc. now owns 2,375 shares of the financial services provider’s stock worth $66,000 after purchasing an additional 605 shares during the period. Finally, State of Tennessee Treasury Department bought a new stake in shares of Park Hotels & Resorts during the third quarter worth $80,000.

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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