Park Hotels & Resorts (PK) Releases FY18 Earnings Guidance

Park Hotels & Resorts (NYSE:PK) updated its FY18 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $2.74-2.90 for the period, compared to the Thomson Reuters consensus estimate of $2.74.

PK has been the topic of a number of analyst reports. Deutsche Bank increased their price objective on shares of Park Hotels & Resorts from $29.00 to $30.00 and gave the company a hold rating in a research note on Friday, February 9th. Zacks Investment Research raised shares of Park Hotels & Resorts from a sell rating to a hold rating in a research note on Friday, March 16th. Boenning Scattergood downgraded shares of Park Hotels & Resorts from an outperform rating to a neutral rating in a research note on Wednesday, February 21st. Bank of America downgraded shares of Park Hotels & Resorts from a neutral rating to an underperform rating in a research note on Monday, March 5th. Finally, Nomura dropped their price target on shares of Park Hotels & Resorts from $33.00 to $30.00 and set a buy rating for the company in a research note on Thursday, March 1st. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $36.23.

Shares of Park Hotels & Resorts stock traded down $0.16 during trading hours on Thursday, reaching $27.18. The company’s stock had a trading volume of 1,416,718 shares, compared to its average volume of 2,444,839. Park Hotels & Resorts has a one year low of $23.91 and a one year high of $29.93. The firm has a market capitalization of $5,870.94, a price-to-earnings ratio of 9.78, a price-to-earnings-growth ratio of 1.96 and a beta of 0.28. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.50.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings data on Thursday, March 1st. The financial services provider reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.37). Park Hotels & Resorts had a net margin of 94.05% and a return on equity of 43.23%. The business had revenue of $686.00 million during the quarter, compared to the consensus estimate of $673.89 million. During the same period last year, the business posted $0.72 earnings per share. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. research analysts forecast that Park Hotels & Resorts will post 2.78 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Friday, March 30th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.33%. The ex-dividend date of this dividend is Wednesday, March 28th. Park Hotels & Resorts’s payout ratio is currently 61.87%.

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About Park Hotels & Resorts

Park Hotels & Resorts Inc is a lodging real estate company. The Company has a portfolio of hotels and resorts. The Company operates through ownership segment, which includes all of its hotel properties. As of December 31, 2016, the Company’s portfolio consisted of 67 hotels and resorts with over 35,000 rooms located in the United States and international markets.

Earnings History and Estimates for Park Hotels & Resorts (NYSE:PK)

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