Park Hotels & Resorts (NYSE:PK) Releases FY24 Earnings Guidance

Park Hotels & Resorts (NYSE:PK) issued an update on its FY24 earnings guidance on Monday morning. The company provided EPS guidance of $2.00-2.10 for the period, compared to the consensus EPS estimate of $2.12. Park Hotels & Resorts also updated its FY 2024 guidance to 2.000-2.100 EPS.

Park Hotels & Resorts Price Performance

Shares of Park Hotels & Resorts stock traded up $0.29 on Thursday, reaching $15.40. The stock had a trading volume of 182,466 shares, compared to its average volume of 2,765,058. The business’s 50 day moving average is $14.33 and its two-hundred day moving average is $14.82. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 1.24. The company has a market cap of $3.18 billion, a P/E ratio of 9.63, a price-to-earnings-growth ratio of 0.83 and a beta of 2.02. Park Hotels & Resorts has a 1 year low of $13.23 and a 1 year high of $18.05.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.26 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.21). The business had revenue of $649.00 million for the quarter, compared to analysts’ expectations of $646.15 million. Park Hotels & Resorts had a return on equity of 9.63% and a net margin of 12.66%. The company’s revenue was down 4.4% compared to the same quarter last year. During the same period last year, the business posted $0.51 earnings per share. As a group, research analysts anticipate that Park Hotels & Resorts will post 2.09 EPS for the current year.

Analyst Ratings Changes

PK has been the topic of several recent research reports. Truist Financial decreased their price target on shares of Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. StockNews.com downgraded Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Evercore ISI dropped their price objective on shares of Park Hotels & Resorts from $20.00 to $19.00 and set an “outperform” rating for the company in a research note on Tuesday, August 13th. Wells Fargo & Company decreased their price target on Park Hotels & Resorts from $17.00 to $14.50 and set an “equal weight” rating on the stock in a report on Friday, September 13th. Finally, Bank of America cut their target price on Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating on the stock in a research note on Monday, October 21st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $18.00.

Park Hotels & Resorts Company Profile

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.