Park Hotels & Resorts (NYSE:PK) Updates FY24 Earnings Guidance

Park Hotels & Resorts (NYSE:PKGet Free Report) issued an update on its FY24 earnings guidance on Monday morning. The company provided earnings per share guidance of $2.00-2.10 for the period, compared to the consensus earnings per share estimate of $2.12. Park Hotels & Resorts also updated its FY 2024 guidance to 2.000-2.100 EPS.

Wall Street Analyst Weigh In

A number of analysts have issued reports on PK shares. Evercore ISI cut their target price on Park Hotels & Resorts from $20.00 to $19.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 13th. Truist Financial decreased their target price on Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. StockNews.com downgraded Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Wolfe Research cut shares of Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 26th. Finally, UBS Group dropped their price objective on shares of Park Hotels & Resorts from $18.00 to $14.00 and set a “neutral” rating for the company in a report on Friday, August 16th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $18.00.

View Our Latest Analysis on PK

Park Hotels & Resorts Stock Up 1.9 %

Shares of NYSE:PK traded up $0.29 during trading hours on Thursday, reaching $15.40. The stock had a trading volume of 182,466 shares, compared to its average volume of 2,765,058. The stock has a market capitalization of $3.18 billion, a price-to-earnings ratio of 9.63, a P/E/G ratio of 0.83 and a beta of 2.02. The firm’s 50 day moving average is $14.33 and its 200-day moving average is $14.82. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.51 and a current ratio of 1.51. Park Hotels & Resorts has a 1 year low of $13.23 and a 1 year high of $18.05.

Park Hotels & Resorts (NYSE:PKGet Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.26 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.21). Park Hotels & Resorts had a net margin of 12.66% and a return on equity of 9.63%. The company had revenue of $649.00 million during the quarter, compared to analysts’ expectations of $646.15 million. During the same quarter in the prior year, the company earned $0.51 earnings per share. The business’s revenue for the quarter was down 4.4% on a year-over-year basis. Research analysts predict that Park Hotels & Resorts will post 2.09 earnings per share for the current fiscal year.

About Park Hotels & Resorts

(Get Free Report)

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.

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