Park Hotels & Resorts (NYSE:PK) Releases FY 2024 Earnings Guidance

Park Hotels & Resorts (NYSE:PKGet Free Report) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of 2.000-2.100 for the period, compared to the consensus earnings per share estimate of 2.130. The company issued revenue guidance of -. Park Hotels & Resorts also updated its FY24 guidance to $2.00-2.10 EPS.

Analyst Ratings Changes

Several research firms recently weighed in on PK. Truist Financial cut their price objective on shares of Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Bank of America cut their price target on shares of Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating for the company in a report on Monday, October 21st. Wolfe Research cut shares of Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 26th. StockNews.com cut Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Finally, 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 research note on Friday, September 13th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $18.00.

Read Our Latest Analysis on Park Hotels & Resorts

Park Hotels & Resorts Trading Up 1.9 %

Park Hotels & Resorts stock traded up $0.29 during trading hours on Thursday, reaching $15.40. 182,466 shares of the company’s stock were exchanged, compared to its average volume of 2,765,058. The firm’s 50 day simple moving average is $14.33 and its 200 day simple moving average is $14.82. Park Hotels & Resorts has a twelve month low of $13.23 and a twelve month high of $18.05. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $3.18 billion, a PE ratio of 9.63, a PEG ratio of 0.83 and a beta of 2.02.

Park Hotels & Resorts (NYSE:PKGet Free Report) last released its 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 analyst estimates 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 for the quarter was down 4.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.51 EPS. Research analysts predict that Park Hotels & Resorts will post 2.09 earnings per share for the current year.

Park Hotels & Resorts Company Profile

(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.

Further Reading

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