Wells Fargo & Company Lowers Park Hotels & Resorts (NYSE:PK) Price Target to $14.00

Park Hotels & Resorts (NYSE:PK) had its price target lowered by Wells Fargo & Company from $17.00 to $14.00 in a research note issued to investors on Tuesday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the financial services provider’s stock.

Several other equities analysts have also recently issued reports on the stock. UBS Group reduced their price target on shares of Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. StockNews.com raised shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research report on Thursday, February 13th. Compass Point cut their price target 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 lowered their price objective on shares of Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Finally, Bank of America cut their target price on shares of Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating for the company in a research report on Monday, October 21st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $18.15.

Park Hotels & Resorts Stock Performance

Park Hotels & Resorts stock opened at $13.03 on Tuesday. The company has a market capitalization of $2.69 billion, a PE ratio of 8.30, a P/E/G ratio of 1.51 and a beta of 2.00. Park Hotels & Resorts has a twelve month low of $12.56 and a twelve month high of $18.05. The firm has a fifty day simple moving average of $13.82 and a two-hundred day simple moving average of $14.31. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 1.24.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.01). Park Hotels & Resorts had a net margin of 12.66% and a return on equity of 9.63%. The firm had revenue of $625.00 million for the quarter, compared to analysts’ expectations of $609.05 million. Research analysts expect that Park Hotels & Resorts will post 1.97 EPS for the current year.

Park Hotels & Resorts Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 7.68%. The ex-dividend date is Monday, March 31st. Park Hotels & Resorts’s dividend payout ratio is currently 63.69%.

Institutional Trading of Park Hotels & Resorts

A number of hedge funds and other institutional investors have recently modified their holdings of PK. Harbor Capital Advisors Inc. purchased a new stake in Park Hotels & Resorts in the 3rd quarter worth $33,000. Quarry LP purchased a new stake in shares of Park Hotels & Resorts during the fourth quarter worth about $35,000. GF Fund Management CO. LTD. purchased a new stake in shares of Park Hotels & Resorts during the fourth quarter worth about $53,000. Venturi Wealth Management LLC raised its position in shares of Park Hotels & Resorts by 281.6% during the third quarter. Venturi Wealth Management LLC now owns 3,850 shares of the financial services provider’s stock valued at $54,000 after buying an additional 2,841 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its holdings in Park Hotels & Resorts by 38.4% in the 4th quarter. Quadrant Capital Group LLC now owns 4,814 shares of the financial services provider’s stock valued at $68,000 after acquiring an additional 1,335 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

About Park Hotels & Resorts

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.