Park Hotels & Resorts (NYSE:PK) Issues Earnings Results, Misses Estimates By $0.21 EPS

Park Hotels & Resorts (NYSE:PK) released its quarterly earnings data on Tuesday. The financial services provider reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.21), Zacks reports. Park Hotels & Resorts had a return on equity of 9.63% and a net margin of 12.66%. The company had revenue of $649.00 million for the quarter, compared to analyst estimates of $646.15 million. During the same period last year, the firm posted $0.51 EPS. The business’s quarterly revenue was down 4.4% on a year-over-year basis.

Park Hotels & Resorts Stock Up 0.5 %

PK stock traded up $0.07 during midday trading on Friday, reaching $13.96. 1,480,550 shares of the company were exchanged, compared to its average volume of 2,735,431. The company has a market cap of $2.92 billion, a price-to-earnings ratio of 8.89, a price-to-earnings-growth ratio of 0.73 and a beta of 2.02. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.58 and a current ratio of 1.51. Park Hotels & Resorts has a 1-year low of $12.09 and a 1-year high of $18.05. The stock’s 50-day simple moving average is $14.40 and its 200 day simple moving average is $14.94.

Wall Street Analysts Forecast Growth

PK has been the topic of several analyst reports. StockNews.com raised shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research report on Wednesday. Compass Point decreased their price target on Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday. Wolfe Research cut Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 26th. UBS Group reduced their price objective on shares of Park Hotels & Resorts from $18.00 to $14.00 and set a “neutral” rating on the stock in a report on Friday, August 16th. Finally, Truist Financial dropped their price target on shares of Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Park Hotels & Resorts presently has a consensus rating of “Hold” and an average target price of $17.58.

About Park Hotels & Resorts

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.