Park Hotels & Resorts Inc. (PK) To Go Ex-Dividend on March 31st

Park Hotels & Resorts Inc. (NYSE:PK) announced a quarterly dividend on Friday, February 14th, Wall Street Journal reports. Investors of record on Monday, March 31st will be given a dividend of 0.25 per share by the financial services provider on Tuesday, April 15th. This represents a $1.00 dividend on an annualized basis and a yield of 9.18%. The ex-dividend date of this dividend is Monday, March 31st.

Park Hotels & Resorts has a payout ratio of 142.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research 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 Trading Down 2.3 %

Shares of Park Hotels & Resorts stock opened at $10.90 on Friday. Park Hotels & Resorts has a 12-month low of $10.84 and a 12-month high of $17.87. The firm’s 50 day simple moving average is $12.48 and its two-hundred day simple moving average is $13.83. The company has a current ratio of 1.19, a quick ratio of 1.51 and a debt-to-equity ratio of 1.27. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of 10.79, a PEG ratio of 1.51 and a beta of 2.02.

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

Analyst Ratings Changes

A number of brokerages recently commented on PK. Jefferies Financial Group dropped their target price on Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. Truist Financial decreased their price objective on shares of Park Hotels & Resorts from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, March 21st. Wells Fargo & Company cut their price objective on shares of Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 18th. StockNews.com cut shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Friday, February 21st. Finally, UBS Group lowered 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 report on Monday, February 3rd. One analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Park Hotels & Resorts has an average rating of “Hold” and a consensus price target of $17.72.

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.