Park Hotels & Resorts Inc. (NYSE:PK) Receives $11.10 Consensus Target Price from Analysts

Shares of Park Hotels & Resorts Inc. (NYSE:PK) have earned a consensus rating of “Reduce” from the eleven research firms that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and one has given a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $11.10.

Several research firms recently weighed in on PK. Weiss Ratings reissued a “hold (c-)” rating on shares of Park Hotels & Resorts in a research note on Monday. Truist Financial lifted their price target on shares of Park Hotels & Resorts from $11.00 to $12.00 and gave the stock a “hold” rating in a research report on Thursday, December 4th. Evercore ISI decreased their price target on shares of Park Hotels & Resorts from $13.00 to $12.00 and set an “in-line” rating for the company in a report on Thursday, November 20th. UBS Group raised their price objective on Park Hotels & Resorts from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Monday, October 6th. Finally, Wells Fargo & Company decreased their target price on Park Hotels & Resorts from $12.00 to $11.00 and set an “equal weight” rating for the company in a research note on Monday, December 1st.

Park Hotels & Resorts Stock Down 0.1%

Shares of Park Hotels & Resorts stock opened at $10.86 on Wednesday. The business has a fifty day simple moving average of $10.67 and a 200 day simple moving average of $10.92. The stock has a market cap of $2.17 billion, a PE ratio of -155.07 and a beta of 1.45. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.37. Park Hotels & Resorts has a 12 month low of $8.27 and a 12 month high of $15.10.

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 analysts’ consensus estimates of $0.43 by ($0.08). The company had revenue of $610.00 million for the quarter, compared to the consensus estimate of $617.05 million. Park Hotels & Resorts had a negative return on equity of 1.25% and a negative net margin of 0.47%.Park Hotels & Resorts’s quarterly revenue was down 6.0% on a year-over-year basis. During the same quarter last year, the business posted $0.49 EPS. Park Hotels & Resorts has set its FY 2025 guidance at 1.850-1.970 EPS. Research analysts predict that Park Hotels & Resorts will post 2.11 EPS for the current year.

Park Hotels & Resorts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be given a $0.25 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $1.00 annualized dividend and a dividend yield of 9.2%. Park Hotels & Resorts’s payout ratio is currently -1,428.57%.

Institutional Trading of Park Hotels & Resorts

Hedge funds have recently bought and sold shares of the stock. Tudor Investment Corp ET AL acquired a new position in shares of Park Hotels & Resorts in the third quarter valued at approximately $950,000. Allworth Financial LP raised its holdings in shares of Park Hotels & Resorts by 56.5% during the third quarter. Allworth Financial LP now owns 6,136 shares of the financial services provider’s stock worth $68,000 after acquiring an additional 2,216 shares during the period. CIBC Private Wealth Group LLC lifted its position in Park Hotels & Resorts by 67.3% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 14,553 shares of the financial services provider’s stock valued at $161,000 after acquiring an additional 5,856 shares in the last quarter. CIBC Bancorp USA Inc. acquired a new position in Park Hotels & Resorts in the 3rd quarter worth $161,000. Finally, Coldstream Capital Management Inc. bought a new position in Park Hotels & Resorts during the 3rd quarter worth about $141,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

About Park Hotels & Resorts

Park Hotels & Resorts Inc is a publicly traded real estate investment trust (REIT) specializing in luxury and upper-upscale hospitality properties. The company’s primary business activity involves owning and leasing premier hotels and resorts across major urban and resort destinations. Through long-term management and franchise agreements with leading hotel operators, Park generates revenue from room nights, food and beverage offerings, meetings and events, and ancillary services.

Since its spin-off from Hilton Worldwide in January 2017, Park Hotels & Resorts has assembled a diversified portfolio of more than 60 properties.