Park Hotels & Resorts Inc. (PK) to Issue Quarterly Dividend of $0.25 on April 15th

Park Hotels & Resorts Inc. (NYSE:PK) announced a quarterly dividend on Thursday, February 20th, Wall Street Journal reports. Investors of record on Monday, March 31st will be paid a dividend of 0.25 per share by the financial services provider on Tuesday, April 15th. This represents a $1.00 annualized dividend and a dividend yield of 7.92%. The ex-dividend date is Monday, March 31st.

Park Hotels & Resorts has a payout ratio of 111.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Park Hotels & Resorts to earn $2.21 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 45.2%.

Park Hotels & Resorts Stock Down 3.1 %

Shares of Park Hotels & Resorts stock opened at $12.63 on Friday. The stock has a market capitalization of $2.61 billion, a P/E ratio of 12.51, a PEG ratio of 1.51 and a beta of 2.00. The company has a quick ratio of 1.51, a current ratio of 1.19 and a debt-to-equity ratio of 1.27. The stock has a 50 day moving average price of $13.82 and a two-hundred day moving average price of $14.31. Park Hotels & Resorts has a 12-month low of $12.52 and a 12-month high of $18.05.

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PK. StockNews.com cut Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Friday. Compass Point cut their target price on Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Jefferies Financial Group dropped their price objective on Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. UBS Group lowered their target price on Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. Finally, Wells Fargo & Company lowered their target price 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. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Park Hotels & Resorts has an average rating of “Hold” 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.