Park Hotels & Resorts (NYSE:PK) Cut to “Sell” at StockNews.com

StockNews.com downgraded shares of Park Hotels & Resorts (NYSE:PK) from a hold rating to a sell rating in a research report report published on Saturday morning.

Other analysts have also recently issued reports about the company. Jefferies Financial Group raised Park Hotels & Resorts from a hold rating to a buy rating and increased their price objective for the stock from $14.00 to $21.00 in a research report on Tuesday, January 2nd. Wells Fargo & Company raised their price target on Park Hotels & Resorts from $17.00 to $18.00 and gave the company an equal weight rating in a report on Thursday, March 21st. Barclays raised their price target on Park Hotels & Resorts from $19.00 to $21.00 and gave the company an overweight rating in a report on Friday, March 1st. Truist Financial raised their price target on Park Hotels & Resorts from $20.00 to $21.00 and gave the company a buy rating in a report on Thursday, March 14th. Finally, UBS Group raised their price target on Park Hotels & Resorts from $14.00 to $18.00 and gave the company a neutral rating in a report on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Hold and an average price target of $17.58.

Park Hotels & Resorts Stock Down 1.8 %

Park Hotels & Resorts stock opened at $16.49 on Friday. Park Hotels & Resorts has a twelve month low of $11.05 and a twelve month high of $18.05. The stock has a 50 day moving average of $16.70 and a two-hundred day moving average of $15.21. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $3.47 billion, a price-to-earnings ratio of 35.85, a PEG ratio of 0.66 and a beta of 2.03.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings data on Tuesday, February 27th. The financial services provider reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.39. Park Hotels & Resorts had a return on equity of 2.44% and a net margin of 3.60%. The company had revenue of $657.00 million during the quarter, compared to analysts’ expectations of $665.16 million. As a group, research analysts expect that Park Hotels & Resorts will post 2 earnings per share for the current year.

Park Hotels & Resorts Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were paid a $0.25 dividend. This is an increase from Park Hotels & Resorts’s previous quarterly dividend of $0.15. This represents a $1.00 annualized dividend and a yield of 6.06%. The ex-dividend date was Wednesday, March 27th. Park Hotels & Resorts’s dividend payout ratio (DPR) is presently 217.39%.

Hedge Funds Weigh In On Park Hotels & Resorts

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Park Hotels & Resorts by 1.7% during the first quarter. Vanguard Group Inc. now owns 33,696,042 shares of the financial services provider’s stock worth $658,084,000 after buying an additional 567,015 shares in the last quarter. BlackRock Inc. increased its position in Park Hotels & Resorts by 0.9% during the first quarter. BlackRock Inc. now owns 30,213,527 shares of the financial services provider’s stock worth $373,439,000 after buying an additional 278,266 shares in the last quarter. State Street Corp increased its position in Park Hotels & Resorts by 5.4% during the second quarter. State Street Corp now owns 13,036,934 shares of the financial services provider’s stock worth $177,037,000 after buying an additional 662,640 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Park Hotels & Resorts by 54.6% during the second quarter. Goldman Sachs Group Inc. now owns 11,358,377 shares of the financial services provider’s stock worth $145,614,000 after buying an additional 4,010,239 shares in the last quarter. Finally, Donald Smith & CO. Inc. increased its position in Park Hotels & Resorts by 36.0% during the fourth quarter. Donald Smith & CO. Inc. now owns 6,529,666 shares of the financial services provider’s stock worth $99,904,000 after buying an additional 1,728,921 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Company Profile

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.