Park Hotels & Resorts (NYSE:PK) Upgraded at StockNews.com

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

PK has been the topic of several other reports. Bank of America dropped their price target on Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating on the stock in a research report on Monday, October 21st. Jefferies Financial Group reduced their price target on shares of Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. UBS Group boosted their price objective on shares of Park Hotels & Resorts from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Monday, November 18th. Compass Point cut their target price on shares of Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Finally, Wells Fargo & Company boosted their price target on shares of Park Hotels & Resorts from $16.00 to $17.00 and gave the company an “equal weight” rating in a report on Monday, December 9th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $18.65.

Park Hotels & Resorts Stock Up 1.0 %

NYSE PK opened at $13.48 on Tuesday. Park Hotels & Resorts has a 12 month low of $13.22 and a 12 month high of $18.05. The company has a market capitalization of $2.78 billion, a P/E ratio of 8.59, a PEG ratio of 5.69 and a beta of 2.02. The company’s 50 day simple moving average is $14.60 and its 200 day simple moving average is $14.51. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.51 and a quick ratio of 1.51.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.21). Park Hotels & Resorts had a net margin of 12.66% and a return on equity of 9.63%. The company had revenue of $649.00 million during the quarter, compared to analyst estimates of $646.15 million. During the same quarter last year, the business earned $0.51 EPS. The company’s revenue for the quarter was down 4.4% compared to the same quarter last year. Equities research analysts expect that Park Hotels & Resorts will post 1.97 earnings per share for the current fiscal year.

Park Hotels & Resorts Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 19.28%. The ex-dividend date was Tuesday, December 31st. This is a positive change from Park Hotels & Resorts’s previous quarterly dividend of $0.25. Park Hotels & Resorts’s dividend payout ratio (DPR) is 63.69%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PK. Harbor Capital Advisors Inc. bought a new position in Park Hotels & Resorts in the third quarter valued at approximately $33,000. Venturi Wealth Management LLC raised its holdings in shares of Park Hotels & Resorts by 281.6% during the third quarter. Venturi Wealth Management LLC now owns 3,850 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 2,841 shares during the period. Quarry LP lifted its position in Park Hotels & Resorts by 82.1% in the 2nd quarter. Quarry LP now owns 4,118 shares of the financial services provider’s stock valued at $62,000 after acquiring an additional 1,857 shares in the last quarter. Claro Advisors LLC acquired a new position in Park Hotels & Resorts in the 3rd quarter worth $69,000. Finally, Covestor Ltd increased its holdings in Park Hotels & Resorts by 64.8% during the 3rd quarter. Covestor Ltd now owns 6,894 shares of the financial services provider’s stock worth $97,000 after purchasing an additional 2,711 shares in the last quarter. Institutional investors and hedge funds 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.