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

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

Park Hotels & Resorts Stock Down 0.3 %

Shares of PK 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’s fifty day simple moving average is $13.96 and its two-hundred day simple moving average is $14.34. The stock has a market cap of $2.71 billion, a price-to-earnings ratio of 8.35 and a beta of 2.00. Park Hotels & Resorts has a 12-month low of $12.56 and a 12-month high of $18.05. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 1.24.

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 given a dividend of $0.65 per share. This is a boost 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%.

Analysts Set New Price Targets

A number of research analysts have weighed in on PK shares. UBS Group reduced their target price on Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. Wells Fargo & Company reduced 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 report on Tuesday. Compass Point decreased 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 report on Thursday, October 31st. Jefferies Financial Group decreased their price target on Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Finally, StockNews.com raised shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research note on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $18.15.

Park Hotels & Resorts Company Profile

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.