Park Hotels & Resorts (NYSE:PK) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of Park Hotels & Resorts (NYSE:PKFree Report) from a hold rating to a sell rating in a research report sent to investors on Saturday.

Other research analysts have also issued research reports about the company. Jefferies Financial Group raised Park Hotels & Resorts from a hold rating to a buy rating and upped their price target for the company from $14.00 to $21.00 in a research report on Tuesday, January 2nd. UBS Group upped their price target on Park Hotels & Resorts from $14.00 to $18.00 and gave the company a neutral rating in a research report on Wednesday, March 6th. Citigroup raised Park Hotels & Resorts from a neutral rating to a buy rating and upped their price target for the company from $14.00 to $20.00 in a research report on Friday, March 22nd. Barclays upped their price target on Park Hotels & Resorts from $19.00 to $21.00 and gave the company an overweight rating in a research report on Friday, March 1st. Finally, Wells Fargo & Company upped their price target on Park Hotels & Resorts from $17.00 to $18.00 and gave the company an equal weight rating in a research report on Thursday, March 21st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Park Hotels & Resorts currently has an average rating of Hold and a consensus target price of $17.58.

Get Our Latest Research Report on PK

Park Hotels & Resorts Trading Down 1.4 %

NYSE PK opened at $16.78 on Friday. Park Hotels & Resorts has a 1-year low of $11.05 and a 1-year high of $18.05. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.19. The stock has a 50-day moving average of $16.68 and a 200-day moving average of $15.18. The firm has a market cap of $3.53 billion, a PE ratio of 36.48, a price-to-earnings-growth ratio of 0.66 and a beta of 2.03.

Park Hotels & Resorts (NYSE:PKGet Free Report) last released its earnings results on Tuesday, February 27th. The financial services provider reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.39. Park Hotels & Resorts had a return on equity of 2.44% and a net margin of 3.60%. The company had revenue of $657.00 million during the quarter, compared to analyst estimates of $665.16 million. As a group, sell-side analysts forecast that Park Hotels & Resorts will post 2 EPS for the current year.

Park Hotels & Resorts Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were paid a $0.25 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $1.00 annualized dividend and a dividend yield of 5.96%. This is an increase from Park Hotels & Resorts’s previous quarterly dividend of $0.15. Park Hotels & Resorts’s dividend payout ratio is presently 217.39%.

Institutional Trading of Park Hotels & Resorts

Several hedge funds and other institutional investors have recently made changes to their positions in PK. Goldman Sachs Group Inc. grew its stake in shares of Park Hotels & Resorts by 54.6% in the 2nd quarter. Goldman Sachs Group Inc. now owns 11,358,377 shares of the financial services provider’s stock worth $145,614,000 after buying an additional 4,010,239 shares during the last quarter. Norges Bank bought a new position in Park Hotels & Resorts in the 4th quarter valued at approximately $31,745,000. Millennium Management LLC bought a new position in Park Hotels & Resorts in the 2nd quarter valued at approximately $24,904,000. JPMorgan Chase & Co. lifted its position in Park Hotels & Resorts by 107.7% in the 1st quarter. JPMorgan Chase & Co. now owns 3,517,709 shares of the financial services provider’s stock valued at $43,479,000 after acquiring an additional 1,824,085 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its position in Park Hotels & Resorts by 601.1% in the 1st quarter. Los Angeles Capital Management LLC now owns 2,111,004 shares of the financial services provider’s stock valued at $36,921,000 after acquiring an additional 1,809,886 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

About Park Hotels & Resorts

(Get Free Report)

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.

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Analyst Recommendations for Park Hotels & Resorts (NYSE:PK)

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