Analysts Anticipate Park Hotels & Resorts Inc (PK) to Announce $0.69 EPS

Wall Street analysts expect Park Hotels & Resorts Inc (NYSE:PK) to post earnings per share of $0.69 for the current quarter, according to Zacks. Five analysts have issued estimates for Park Hotels & Resorts’ earnings, with estimates ranging from $0.66 to $0.71. Park Hotels & Resorts reported earnings per share of $0.68 during the same quarter last year, which would indicate a positive year over year growth rate of 1.5%. The business is scheduled to issue its next earnings report on Thursday, March 7th.

According to Zacks, analysts expect that Park Hotels & Resorts will report full year earnings of $2.92 per share for the current year, with EPS estimates ranging from $2.89 to $2.93. For the next fiscal year, analysts expect that the company will post earnings of $3.00 per share, with EPS estimates ranging from $2.95 to $3.05. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow Park Hotels & Resorts.

Park Hotels & Resorts (NYSE:PK) last announced its earnings results on Thursday, November 1st. The financial services provider reported $0.26 EPS for the quarter, missing the Zacks’ consensus estimate of $0.64 by ($0.38). The firm had revenue of $652.00 million during the quarter, compared to the consensus estimate of $656.61 million. Park Hotels & Resorts had a return on equity of 8.27% and a net margin of 17.46%. The business’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.66 earnings per share.

PK has been the subject of a number of recent research reports. Zacks Investment Research downgraded shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Friday, November 9th. Wells Fargo & Co cut their price objective on shares of Park Hotels & Resorts from $32.00 to $29.00 and set a “market perform” rating on the stock in a report on Friday, November 16th. Nomura upped their price objective on shares of Park Hotels & Resorts from $30.00 to $32.00 and gave the company a “buy” rating in a report on Friday, November 2nd. Deutsche Bank set a $32.00 price objective on shares of Park Hotels & Resorts and gave the company a “hold” rating in a report on Saturday, November 3rd. Finally, Evercore ISI downgraded shares of Park Hotels & Resorts from an “outperform” rating to an “in-line” rating in a report on Monday, August 20th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $31.72.

A number of institutional investors have recently added to or reduced their stakes in the business. Marshall Wace LLP purchased a new stake in Park Hotels & Resorts in the 3rd quarter worth approximately $9,946,000. Vanguard Group Inc. lifted its position in shares of Park Hotels & Resorts by 3.8% during the 3rd quarter. Vanguard Group Inc. now owns 30,594,200 shares of the financial services provider’s stock valued at $1,004,101,000 after buying an additional 1,107,521 shares in the last quarter. Morgan Stanley lifted its position in shares of Park Hotels & Resorts by 20.0% during the 3rd quarter. Morgan Stanley now owns 818,721 shares of the financial services provider’s stock valued at $26,870,000 after buying an additional 136,691 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Park Hotels & Resorts by 7.5% during the 3rd quarter. Legal & General Group Plc now owns 1,272,835 shares of the financial services provider’s stock valued at $41,774,000 after buying an additional 89,259 shares in the last quarter. Finally, Nordea Investment Management AB purchased a new position in shares of Park Hotels & Resorts during the 3rd quarter valued at approximately $9,599,000.

Park Hotels & Resorts stock traded up $0.37 during trading hours on Friday, reaching $30.67. The stock had a trading volume of 2,183,300 shares, compared to its average volume of 1,945,578. The company has a market capitalization of $6.10 billion, a PE ratio of 11.03, a P/E/G ratio of 2.21 and a beta of 0.99. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.55 and a current ratio of 1.55. Park Hotels & Resorts has a 52 week low of $23.91 and a 52 week high of $34.27.

Park Hotels & Resorts Company Profile

Park is the second largest publicly traded lodging REIT with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio consists of 54 premium-branded hotels and resorts with over 32,000 rooms, a majority of which are located in prime United States markets with high barriers to entry.

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Earnings History and Estimates for Park Hotels & Resorts (NYSE:PK)

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