Park Hotels & Resorts Inc. (NYSE:PK) Receives $18.65 Average Target Price from Brokerages

Shares of Park Hotels & Resorts Inc. (NYSE:PK) have received a consensus recommendation of “Moderate Buy” from the eleven brokerages that are covering the company, MarketBeat reports. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $18.65.

Several equities analysts have recently issued reports on PK shares. StockNews.com lowered Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Tuesday, January 7th. Wolfe Research downgraded Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 26th. Bank of America lowered their price target on Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating on the stock in a report on Monday, October 21st. Compass Point cut their target price on shares of Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Finally, Wells Fargo & Company lifted their target price on Park Hotels & Resorts from $16.00 to $17.00 and gave the company an “equal weight” rating in a research report on Monday, December 9th.

Park Hotels & Resorts Stock Up 1.7 %

Shares of NYSE:PK opened at $13.78 on Wednesday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.51 and a current ratio of 1.51. The firm has a market capitalization of $2.84 billion, a P/E ratio of 8.78, a P/E/G ratio of 6.90 and a beta of 2.02. The stock has a 50 day moving average price of $14.85 and a 200-day moving average price of $14.59. Park Hotels & Resorts has a 52-week low of $13.22 and a 52-week high of $18.05.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings data 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 return on equity of 9.63% and a net margin of 12.66%. The business had revenue of $649.00 million for the quarter, compared to the consensus estimate of $646.15 million. During the same period in the previous year, the firm earned $0.51 EPS. The company’s revenue was down 4.4% on a year-over-year basis. As a group, equities research analysts anticipate that Park Hotels & Resorts will post 1.96 EPS for the current fiscal year.

Park Hotels & Resorts Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.65 per share. This is a positive change from Park Hotels & Resorts’s previous quarterly dividend of $0.25. This represents a $2.60 dividend on an annualized basis and a yield of 18.87%. The ex-dividend date of this dividend is Tuesday, December 31st. Park Hotels & Resorts’s dividend payout ratio (DPR) is 63.69%.

Institutional Trading of Park Hotels & Resorts

Several hedge funds have recently bought and sold shares of PK. Harbor Capital Advisors Inc. bought a new stake in shares of Park Hotels & Resorts in the 3rd quarter worth about $33,000. Venturi Wealth Management LLC raised its position in Park Hotels & Resorts by 281.6% during the third quarter. Venturi Wealth Management LLC now owns 3,850 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 2,841 shares during the period. Quarry LP lifted its stake in shares of Park Hotels & Resorts by 82.1% in the 2nd quarter. Quarry LP now owns 4,118 shares of the financial services provider’s stock valued at $62,000 after purchasing an additional 1,857 shares during the last quarter. Claro Advisors LLC bought a new stake in Park Hotels & Resorts in the third quarter worth $69,000. Finally, Covestor Ltd increased its position in Park Hotels & Resorts by 64.8% during the third quarter. Covestor Ltd now owns 6,894 shares of the financial services provider’s stock valued at $97,000 after acquiring an additional 2,711 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Company Profile

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.