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

Park Hotels & Resorts (NYSE:PK) announced its quarterly earnings data on Wednesday. The financial services provider reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.01), Zacks reports. Park Hotels & Resorts had a net margin of 12.66% and a return on equity of 9.63%.

Park Hotels & Resorts Stock Performance

Shares of Park Hotels & Resorts stock traded down $0.04 during trading hours on Wednesday, hitting $13.12. 4,249,818 shares of the company’s stock traded hands, compared to its average volume of 3,366,508. The stock has a market capitalization of $2.71 billion, a price-to-earnings ratio of 8.35 and a beta of 2.00. The company has a fifty day simple moving average of $13.96 and a 200-day simple moving average of $14.34. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.51 and a quick ratio of 1.51. Park Hotels & Resorts has a 12-month low of $12.56 and a 12-month high of $18.05.

Park Hotels & Resorts Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were 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 19.82%. The ex-dividend date was Tuesday, December 31st. Park Hotels & Resorts’s dividend payout ratio (DPR) is 63.69%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PK. UBS Group decreased their price target on Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. Jefferies Financial Group dropped their price target on shares of Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Wells Fargo & Company cut their price objective on Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Tuesday. StockNews.com raised Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research note on Thursday, February 13th. Finally, Compass Point cut their target price on shares of Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Park Hotels & Resorts currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.15.

About Park Hotels & Resorts

Park Hotels & Resorts, Inc operates as a real estate investment trust, which owns and operates hotels and resorts. It operates through the Consolidated Hotels and Unconsolidated Hotels segments. Its portfolio of hotels and resorts include the Waldorf Astoria Hotels and Resorts, Conrad Hotels & Resorts, Hilton Hotels & Resorts, DoubleTree by Hilton, Embassy Suites by Hilton, Hilton Garden Inn, Hampton by Hilton, and Curio.