Park Hotels & Resorts (NYSE:PK) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Park Hotels & Resorts (NYSE:PK) from a sell rating to a hold rating in a research report report published on Monday morning.

A number of other research firms also recently commented on PK. UBS Group boosted their price objective on shares of Park Hotels & Resorts from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Monday, November 18th. Wolfe Research lowered Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 26th. Bank of America dropped their price objective on Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating for the company in a research note on Monday, October 21st. Compass Point decreased their target price on Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Finally, Truist Financial lowered their target price on Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.55.

Park Hotels & Resorts Stock Down 4.4 %

Shares of Park Hotels & Resorts stock opened at $14.07 on Monday. Park Hotels & Resorts has a one year low of $13.23 and a one year high of $18.05. The company has a market cap of $2.90 billion, a P/E ratio of 8.96, a PEG ratio of 6.90 and a beta of 2.03. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.51 and a current ratio of 1.51. The firm has a fifty day moving average of $14.87 and a two-hundred day moving average of $14.65.

Park Hotels & Resorts (NYSE:PK) last released its earnings results on Tuesday, October 29th. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.21). Park Hotels & Resorts had a return on equity of 9.63% and a net margin of 12.66%. The business had revenue of $649.00 million for the quarter, compared to analyst estimates of $646.15 million. During the same quarter in the previous year, the firm posted $0.51 EPS. The business’s revenue for the quarter was down 4.4% on a year-over-year basis. On average, analysts forecast that Park Hotels & Resorts will post 1.96 earnings per share for the current year.

Park Hotels & Resorts Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 18.48%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from Park Hotels & Resorts’s previous quarterly dividend of $0.25. Park Hotels & Resorts’s payout ratio is currently 63.69%.

Institutional Investors Weigh In On Park Hotels & Resorts

A number of hedge funds and other institutional investors have recently made changes to their positions in PK. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Park Hotels & Resorts by 4.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 91,290 shares of the financial services provider’s stock worth $1,368,000 after purchasing an additional 4,072 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in Park Hotels & Resorts by 263.5% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 75,142 shares of the financial services provider’s stock valued at $1,126,000 after acquiring an additional 54,473 shares during the last quarter. Van ECK Associates Corp grew its position in Park Hotels & Resorts by 6.5% during the second quarter. Van ECK Associates Corp now owns 32,010 shares of the financial services provider’s stock valued at $480,000 after acquiring an additional 1,954 shares during the period. Natixis Advisors LLC acquired a new stake in Park Hotels & Resorts during the second quarter worth about $225,000. Finally, Versor Investments LP lifted its stake in shares of Park Hotels & Resorts by 11.7% in the 2nd quarter. Versor Investments LP now owns 32,100 shares of the financial services provider’s stock valued at $481,000 after purchasing an additional 3,358 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

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.