Analysts Set Park Hotels & Resorts Inc. (NYSE:PK) PT at $18.65

Shares of Park Hotels & Resorts Inc. (NYSE:PK) have earned an average recommendation of “Moderate Buy” from the eleven brokerages that are covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $18.65.

Several research firms have issued reports on PK. Jefferies Financial Group lowered their price target on shares of Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. StockNews.com downgraded shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Tuesday, January 7th. Wolfe Research cut shares of Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 26th. UBS Group upped their price target on Park Hotels & Resorts from $14.00 to $15.00 and gave the stock a “neutral” rating in a research note on Monday, November 18th. Finally, Compass Point reduced their price target on shares of Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, October 31st.

Park Hotels & Resorts Stock Up 1.7 %

Shares of PK opened at $13.78 on Wednesday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.51 and a quick ratio of 1.51. Park Hotels & Resorts has a one year low of $13.22 and a one year high of $18.05. The company has a market cap of $2.84 billion, a P/E ratio of 8.78, a P/E/G ratio of 6.90 and a beta of 2.02. The firm has a 50 day simple moving average of $14.85 and a two-hundred day simple moving average of $14.59.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.21). Park Hotels & Resorts had a net margin of 12.66% and a return on equity of 9.63%. The firm had revenue of $649.00 million during the quarter, compared to the consensus estimate of $646.15 million. During the same quarter in the previous year, the company posted $0.51 earnings per share. The firm’s revenue was down 4.4% on a year-over-year basis. Research analysts forecast that Park Hotels & Resorts will post 1.96 EPS for the current fiscal 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 is a positive change from Park Hotels & Resorts’s previous quarterly dividend of $0.25. This represents a $2.60 dividend on an annualized basis and a dividend yield of 18.87%. The ex-dividend date of this dividend is Tuesday, December 31st. Park Hotels & Resorts’s dividend payout ratio (DPR) is 63.69%.

Institutional Investors Weigh In On Park Hotels & Resorts

Large investors have recently added to or reduced their stakes in the business. Algert Global LLC lifted its holdings in shares of Park Hotels & Resorts by 48.6% in the 2nd quarter. Algert Global LLC now owns 752,273 shares of the financial services provider’s stock worth $11,269,000 after acquiring an additional 245,973 shares during the last quarter. Quantbot Technologies LP boosted its position in Park Hotels & Resorts by 95.7% during the 2nd quarter. Quantbot Technologies LP now owns 367,900 shares of the financial services provider’s stock valued at $5,511,000 after buying an additional 179,884 shares during the period. XTX Topco Ltd grew its holdings in Park Hotels & Resorts by 420.7% in the 3rd quarter. XTX Topco Ltd now owns 89,168 shares of the financial services provider’s stock worth $1,257,000 after acquiring an additional 72,044 shares during the last quarter. National Bank of Canada FI increased its position in shares of Park Hotels & Resorts by 70.9% in the second quarter. National Bank of Canada FI now owns 223,600 shares of the financial services provider’s stock valued at $3,298,000 after acquiring an additional 92,800 shares during the period. Finally, AQR Capital Management LLC raised its stake in shares of Park Hotels & Resorts by 287.7% during the second quarter. AQR Capital Management LLC now owns 5,252,853 shares of the financial services provider’s stock valued at $77,217,000 after acquiring an additional 3,897,889 shares during the last quarter. 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.