Park Hotels & Resorts Inc (NYSE:PK) Expected to Announce Earnings of $0.70 Per Share

Brokerages expect Park Hotels & Resorts Inc (NYSE:PK) to announce earnings of $0.70 per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Park Hotels & Resorts’ earnings. The lowest EPS estimate is $0.67 and the highest is $0.74. Park Hotels & Resorts posted earnings per share of $0.65 in the same quarter last year, which would indicate a positive year over year growth rate of 7.7%. The company is scheduled to issue its next quarterly earnings results on Thursday, November 7th.

According to Zacks, analysts expect that Park Hotels & Resorts will report full-year earnings of $2.94 per share for the current year, with EPS estimates ranging from $2.90 to $2.98. For the next fiscal year, analysts anticipate that the business will post earnings of $2.94 per share, with EPS estimates ranging from $2.81 to $3.05. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Park Hotels & Resorts.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.40 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.82 by ($0.42). Park Hotels & Resorts had a return on equity of 5.06% and a net margin of 10.52%. The company had revenue of $703.00 million for the quarter, compared to analyst estimates of $694.08 million. During the same quarter in the prior year, the business earned $0.93 earnings per share. Park Hotels & Resorts’s revenue was down 3.8% compared to the same quarter last year.

PK has been the topic of several research reports. Capital One Financial initiated coverage on shares of Park Hotels & Resorts in a research report on Tuesday, June 25th. They set an “overweight” rating and a $34.00 price objective on the stock. Zacks Investment Research raised shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research report on Wednesday, July 31st. Deutsche Bank set a $33.00 price objective on shares of Park Hotels & Resorts and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Finally, TheStreet downgraded shares of Park Hotels & Resorts from a “b-” rating to a “c” rating in a research report on Wednesday, June 5th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Park Hotels & Resorts currently has an average rating of “Hold” and an average target price of $32.38.

Park Hotels & Resorts stock traded down $0.06 during midday trading on Friday, hitting $23.46. 93,113 shares of the company’s stock were exchanged, compared to its average volume of 1,874,334. Park Hotels & Resorts has a 12-month low of $23.12 and a 12-month high of $34.27. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.74 and a current ratio of 1.74. The stock has a market cap of $4.73 billion, a PE ratio of 7.94, a price-to-earnings-growth ratio of 2.14 and a beta of 1.26. The business has a 50 day moving average price of $26.34.

Large investors have recently modified their holdings of the company. Pictet Asset Management Ltd. raised its position in Park Hotels & Resorts by 8.7% during the second quarter. Pictet Asset Management Ltd. now owns 37,300 shares of the financial services provider’s stock worth $1,028,000 after acquiring an additional 3,000 shares during the last quarter. Nuveen Asset Management LLC raised its position in Park Hotels & Resorts by 64.0% during the second quarter. Nuveen Asset Management LLC now owns 1,623,543 shares of the financial services provider’s stock worth $44,744,000 after acquiring an additional 633,558 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Park Hotels & Resorts by 0.7% during the second quarter. Price T Rowe Associates Inc. MD now owns 65,998 shares of the financial services provider’s stock worth $1,819,000 after acquiring an additional 458 shares during the last quarter. Jane Street Group LLC acquired a new position in Park Hotels & Resorts during the second quarter worth about $578,000. Finally, Cubist Systematic Strategies LLC raised its position in Park Hotels & Resorts by 1,124.4% during the second quarter. Cubist Systematic Strategies LLC now owns 100,507 shares of the financial services provider’s stock worth $2,770,000 after acquiring an additional 92,298 shares during the last quarter.

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 52 premium-branded hotels and resorts with over 30,000 rooms, a substantial portion 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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