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Park Hotels & Resorts Inc. (NYSE:PK) Receives Average Recommendation of "Hold" From Analysts

Defense World ·  09/11/2022 14:41

Shares of Park Hotels & Resorts Inc. (NYSE:PK – Get Rating) have been assigned an average rating of "Hold" from the fourteen analysts that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $19.79.

Several research firms recently issued reports on PK. StockNews.com raised shares of Park Hotels & Resorts from a "sell" rating to a "hold" rating in a report on Friday, August 5th. Evercore ISI reissued an "in-line" rating and issued a $22.50 target price on shares of Park Hotels & Resorts in a report on Monday, July 11th. Barclays reduced their target price on shares of Park Hotels & Resorts from $22.00 to $18.00 and set an "equal weight" rating for the company in a report on Thursday, July 7th. Wells Fargo & Company raised shares of Park Hotels & Resorts from an "equal weight" rating to an "overweight" rating and reduced their target price for the stock from $20.00 to $17.00 in a report on Monday, August 29th. Finally, Sumitomo Mitsui Financial Group lowered shares of Park Hotels & Resorts from an "outperform" rating to a "neutral" rating and set a $16.00 price objective for the company. in a report on Monday, August 8th.

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Insider Activity

In other news, Director Thomas D. Eckert bought 10,000 shares of the stock in a transaction dated Tuesday, June 14th. The stock was purchased at an average cost of $15.12 per share, for a total transaction of $151,200.00. Following the transaction, the director now owns 96,637 shares of the company's stock, valued at $1,461,151.44. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.09% of the company's stock.

Institutional Trading of Park Hotels & Resorts

Institutional investors have recently bought and sold shares of the stock. Rockefeller Capital Management L.P. lifted its position in Park Hotels & Resorts by 166.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,518 shares of the financial services provider's stock worth $28,000 after buying an additional 948 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in Park Hotels & Resorts in the fourth quarter worth $43,000. Migdal Insurance & Financial Holdings Ltd. increased its stake in Park Hotels & Resorts by 54.9% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,883 shares of the financial services provider's stock worth $57,000 after purchasing an additional 1,022 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Park Hotels & Resorts in the second quarter worth $45,000. Finally, Lindbrook Capital LLC increased its stake in Park Hotels & Resorts by 143.9% in the second quarter. Lindbrook Capital LLC now owns 3,410 shares of the financial services provider's stock worth $46,000 after purchasing an additional 2,012 shares during the period. 91.73% of the stock is currently owned by institutional investors.

Park Hotels & Resorts Price Performance

NYSE PK opened at $14.62 on Friday. Park Hotels & Resorts has a 52 week low of $12.90 and a 52 week high of $21.62. The firm has a market capitalization of $3.41 billion, a P/E ratio of -66.45 and a beta of 1.94. The company has a quick ratio of 3.26, a current ratio of 3.26 and a debt-to-equity ratio of 1.09. The company has a 50-day moving average price of $14.64 and a 200-day moving average price of $16.77.

Park Hotels & Resorts (NYSE:PK – Get Rating) last released its quarterly earnings results on Wednesday, August 3rd. The financial services provider reported $0.66 EPS for the quarter, beating the consensus estimate of $0.47 by $0.19. Park Hotels & Resorts had a negative net margin of 2.93% and a negative return on equity of 1.38%. The firm had revenue of $695.00 million during the quarter, compared to analyst estimates of $661.19 million. Equities research analysts anticipate that Park Hotels & Resorts will post 1.49 earnings per share for the current year.

Park Hotels & Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Thursday, June 30th were given a dividend of $0.01 per share. The ex-dividend date was Wednesday, June 29th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.27%. Park Hotels & Resorts's dividend payout ratio is currently -18.18%.

Park Hotels & Resorts Company Profile

(Get Rating)

Park is the second largest publicly traded lodging REIT with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio currently consists of 60 premium-branded hotels and resorts with over 33,000 rooms primarily located in prime city center and resort locations.

Further Reading

  • Get a free copy of the StockNews.com research report on Park Hotels & Resorts (PK)
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