Park Hotels & Resorts (NYSE:PK) Posts Earnings Results, Misses Estimates By $0.01 EPS

Park Hotels & Resorts (NYSE:PK) released its quarterly earnings results on Wednesday. The financial services provider reported $0.39 earnings per share 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 Price Performance

Park Hotels & Resorts stock traded down $0.04 during midday trading on Wednesday, reaching $13.12. The company’s stock had a trading volume of 4,250,806 shares, compared to its average volume of 3,366,508. 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 stock has a market cap of $2.71 billion, a PE ratio of 8.35 and a beta of 2.00. Park Hotels & Resorts has a 52 week low of $12.56 and a 52 week high of $18.05. The business has a 50-day moving average price of $13.96 and a 200-day moving average price of $14.34.

Park Hotels & Resorts Increases Dividend

The firm also recently disclosed 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 an increase from Park Hotels & Resorts’s previous quarterly dividend of $0.25. This represents a $2.60 annualized dividend and a dividend yield of 19.82%. The ex-dividend date of this dividend was Tuesday, December 31st. Park Hotels & Resorts’s dividend payout ratio is currently 63.69%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. UBS Group dropped 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. Jefferies Financial Group cut their price objective 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. Wells Fargo & Company decreased their target price on shares of Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Tuesday. StockNews.com upgraded shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research report on Thursday, February 13th. Finally, Compass Point reduced their price target on 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. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.