Park Hotels & Resorts (NYSE:PK) Reaches New 1-Year Low – What’s Next?

Park Hotels & Resorts Inc. (NYSE:PK)’s stock price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $12.23 and last traded at $12.33, with a volume of 3043844 shares. The stock had previously closed at $12.35.

Wall Street Analyst Weigh In

PK has been the subject of a number of research reports. Jefferies Financial Group decreased their target price on Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Compass Point decreased their price objective on shares of Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. UBS Group cut their price objective on shares of Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. Wells Fargo & Company decreased their target price on shares of Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 18th. Finally, StockNews.com downgraded Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Friday, February 21st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $18.15.

Park Hotels & Resorts Stock Down 0.2 %

The company has a quick ratio of 1.51, a current ratio of 1.19 and a debt-to-equity ratio of 1.27. The company has a market capitalization of $2.49 billion, a PE ratio of 12.21, a price-to-earnings-growth ratio of 1.51 and a beta of 2.00. The firm has a 50-day moving average of $13.61 and a two-hundred day moving average of $14.28.

Park Hotels & Resorts (NYSE:PK) last issued its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.01). Park Hotels & Resorts had a net margin of 8.16% and a return on equity of 5.63%. The firm had revenue of $625.00 million during the quarter, compared to analyst estimates of $609.05 million. Equities research analysts predict that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current fiscal year.

Park Hotels & Resorts Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 8.11%. The ex-dividend date of this dividend is Monday, March 31st. Park Hotels & Resorts’s payout ratio is 99.01%.

Institutional Investors Weigh In On Park Hotels & Resorts

Large investors have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC boosted its position in Park Hotels & Resorts by 0.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 79,994 shares of the financial services provider’s stock valued at $1,128,000 after buying an additional 752 shares during the period. Assetmark Inc. raised its stake in shares of Park Hotels & Resorts by 3.4% in the fourth quarter. Assetmark Inc. now owns 23,355 shares of the financial services provider’s stock valued at $329,000 after acquiring an additional 764 shares in the last quarter. Coldstream Capital Management Inc. boosted its holdings in Park Hotels & Resorts by 7.3% in the fourth quarter. Coldstream Capital Management Inc. now owns 11,931 shares of the financial services provider’s stock valued at $168,000 after purchasing an additional 813 shares during the period. Xponance Inc. grew its stake in Park Hotels & Resorts by 3.8% during the 4th quarter. Xponance Inc. now owns 24,650 shares of the financial services provider’s stock worth $347,000 after purchasing an additional 892 shares in the last quarter. Finally, Cascade Investment Advisors Inc. increased its holdings in Park Hotels & Resorts by 1.3% during the 4th quarter. Cascade Investment Advisors Inc. now owns 73,487 shares of the financial services provider’s stock worth $1,034,000 after purchasing an additional 915 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

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.