Wells Fargo & Company Issues Pessimistic Forecast for Park Hotels & Resorts (NYSE:PK) Stock Price

Park Hotels & Resorts (NYSE:PK) had its price objective lowered by Wells Fargo & Company from $12.00 to $11.00 in a report released on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 2.56% from the company’s previous close.

PK has been the topic of several other reports. Cantor Fitzgerald started coverage on Park Hotels & Resorts in a report on Wednesday, October 1st. They set a “neutral” rating and a $12.00 target price on the stock. Citigroup cut shares of Park Hotels & Resorts from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $13.00 to $12.00 in a research note on Tuesday, September 9th. UBS Group boosted their target price on shares of Park Hotels & Resorts from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Monday, October 6th. Weiss Ratings restated a “sell (d+)” rating on shares of Park Hotels & Resorts in a research report on Tuesday, November 25th. Finally, Evercore ISI decreased their price objective on shares of Park Hotels & Resorts from $13.00 to $12.00 and set an “in-line” rating for the company in a research report on Thursday, November 20th. One investment analyst has rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $11.00.

Park Hotels & Resorts Stock Performance

NYSE PK traded down $0.10 on Monday, hitting $10.73. 274,368 shares of the company’s stock traded hands, compared to its average volume of 3,915,684. The firm’s 50-day moving average price is $10.81 and its two-hundred day moving average price is $10.87. The firm has a market capitalization of $2.14 billion, a PE ratio of -153.07 and a beta of 1.45. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.37. Park Hotels & Resorts has a 1-year low of $8.27 and a 1-year high of $16.23.

Park Hotels & Resorts (NYSE:PK) last issued its earnings results on Thursday, October 30th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.08). Park Hotels & Resorts had a negative return on equity of 1.25% and a negative net margin of 0.47%.The business had revenue of $610.00 million for the quarter, compared to analysts’ expectations of $617.05 million. During the same period last year, the business earned $0.49 EPS. The company’s revenue for the quarter was down 6.0% on a year-over-year basis. Park Hotels & Resorts has set its FY 2025 guidance at 1.850-1.970 EPS. As a group, analysts expect that Park Hotels & Resorts will post 2.11 EPS for the current year.

Institutional Investors Weigh In On Park Hotels & Resorts

Large investors have recently bought and sold shares of the company. Danske Bank A S bought a new stake in shares of Park Hotels & Resorts during the third quarter valued at approximately $25,000. Parvin Asset Management LLC bought a new position in shares of Park Hotels & Resorts during the 2nd quarter worth about $26,000. Bessemer Group Inc. increased its stake in Park Hotels & Resorts by 359.3% in the second quarter. Bessemer Group Inc. now owns 3,082 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 2,411 shares during the period. Advisory Services Network LLC acquired a new position in Park Hotels & Resorts in the third quarter worth about $34,000. Finally, IFP Advisors Inc lifted its stake in Park Hotels & Resorts by 469.0% during the second quarter. IFP Advisors Inc now owns 3,465 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 2,856 shares during the period. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

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.