Park Hotels & Resorts (NYSE:PK) Reaches New 1-Year Low – What’s Next?

Park Hotels & Resorts Inc. (NYSE:PK) shares hit a new 52-week low during trading on Friday . The stock traded as low as $10.84 and last traded at $10.90, with a volume of 2032511 shares traded. The stock had previously closed at $11.15.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on PK shares. Wells Fargo & Company decreased their price target on Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 18th. Jefferies Financial Group decreased their target price on shares of Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. Truist Financial lowered their target price on shares of Park Hotels & Resorts from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, March 21st. StockNews.com cut shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Friday, February 21st. Finally, UBS Group lowered their price objective on Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating for the company in a research report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $17.72.

Park Hotels & Resorts Trading Down 2.3 %

The firm’s 50 day simple moving average is $12.48 and its two-hundred day simple moving average is $13.83. The stock has a market capitalization of $2.20 billion, a P/E ratio of 10.79, a P/E/G ratio of 1.51 and a beta of 2.02. The company has a quick ratio of 1.51, a current ratio of 1.19 and a debt-to-equity ratio of 1.27.

Park Hotels & Resorts (NYSE:PK) last issued its earnings results on Wednesday, February 19th. The financial services provider reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.01). Park Hotels & Resorts had a net margin of 8.16% and a return on equity of 5.63%. The firm had revenue of $625.00 million during the quarter, compared to the consensus estimate of $609.05 million. As a group, analysts forecast that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current fiscal year.

Park Hotels & Resorts Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.18%. The ex-dividend date is Monday, March 31st. Park Hotels & Resorts’s payout ratio is 99.01%.

Institutional Trading of Park Hotels & Resorts

Several hedge funds have recently bought and sold shares of the business. Norges Bank bought a new position in shares of Park Hotels & Resorts in the fourth quarter valued at $41,087,000. Deutsche Bank AG raised its holdings in shares of Park Hotels & Resorts by 809.3% in the 4th quarter. Deutsche Bank AG now owns 2,415,621 shares of the financial services provider’s stock worth $33,988,000 after acquiring an additional 2,149,972 shares during the last quarter. Landmark Investment Partners L.P. bought a new position in Park Hotels & Resorts in the 4th quarter valued at about $21,342,000. Invesco Ltd. boosted its stake in Park Hotels & Resorts by 84.0% during the 4th quarter. Invesco Ltd. now owns 2,837,917 shares of the financial services provider’s stock valued at $39,929,000 after purchasing an additional 1,295,548 shares during the last quarter. Finally, Donald Smith & CO. Inc. increased its holdings in Park Hotels & Resorts by 13.9% during the 4th quarter. Donald Smith & CO. Inc. now owns 9,200,125 shares of the financial services provider’s stock worth $129,446,000 after purchasing an additional 1,122,839 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

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.