Analysts Set Park Hotels & Resorts Inc. (NYSE:PK) Price Target at $11.10

Shares of Park Hotels & Resorts Inc. (NYSE:PK) have been assigned a consensus recommendation of “Reduce” from the eleven ratings firms that are presently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and one has given a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $11.10.

A number of brokerages have issued reports on PK. Cantor Fitzgerald began coverage on Park Hotels & Resorts in a research report on Wednesday, October 1st. They set a “neutral” rating and a $12.00 target price for the company. Citigroup downgraded shares of Park Hotels & Resorts from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $13.00 to $12.00 in a report on Tuesday, September 9th. Evercore ISI dropped their target price on shares of Park Hotels & Resorts from $13.00 to $12.00 and set an “in-line” rating on the stock in a report on Thursday, November 20th. Truist Financial upped their price target on shares of Park Hotels & Resorts from $11.00 to $12.00 and gave the company a “hold” rating in a report on Thursday. Finally, Wells Fargo & Company lowered their price target on Park Hotels & Resorts from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Monday, December 1st.

Institutional Investors Weigh In On Park Hotels & Resorts

Several institutional investors and hedge funds have recently bought and sold shares of PK. Danske Bank A S bought a new position in shares of Park Hotels & Resorts during the 3rd quarter worth about $25,000. Parvin Asset Management LLC bought a new position in Park Hotels & Resorts during the second quarter worth about $26,000. Advisory Services Network LLC acquired a new stake in Park Hotels & Resorts during the third quarter valued at approximately $34,000. Bessemer Group Inc. grew its stake in shares of Park Hotels & Resorts by 359.3% in the 2nd quarter. Bessemer Group Inc. now owns 3,082 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 2,411 shares during the period. Finally, Clearstead Advisors LLC raised its holdings in shares of Park Hotels & Resorts by 326.4% in the 3rd quarter. Clearstead Advisors LLC now owns 3,198 shares of the financial services provider’s stock worth $35,000 after buying an additional 2,448 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Trading Up 0.5%

Shares of NYSE:PK opened at $10.53 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.37. The stock has a market capitalization of $2.11 billion, a PE ratio of -150.49 and a beta of 1.45. Park Hotels & Resorts has a 1 year low of $8.27 and a 1 year high of $15.88. The firm has a fifty day moving average price of $10.71 and a 200 day moving average price of $10.86.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings results on Thursday, October 30th. The financial services provider reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.08). The company had revenue of $610.00 million during the quarter, compared to analyst estimates of $617.05 million. Park Hotels & Resorts had a negative return on equity of 1.25% and a negative net margin of 0.47%.Park Hotels & Resorts’s quarterly revenue was down 6.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.49 EPS. Park Hotels & Resorts has set its FY 2025 guidance at 1.850-1.970 EPS. Analysts expect that Park Hotels & Resorts will post 2.11 EPS for the current fiscal year.

Park Hotels & Resorts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $1.00 annualized dividend and a yield of 9.5%. Park Hotels & Resorts’s dividend payout ratio is -1,428.57%.

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.