Park Hotels & Resorts (NYSE:PK)‘s stock had its “hold” rating reaffirmed by equities researchers at Boenning Scattergood in a research note issued on Monday.
PK has been the subject of a number of other research reports. Zacks Investment Research cut Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Friday, March 23rd. Citigroup started coverage on Park Hotels & Resorts in a research note on Tuesday, February 27th. They set a “neutral” rating and a $27.50 target price for the company. JPMorgan Chase reiterated an “overweight” rating and set a $28.00 target price (down from $30.00) on shares of Park Hotels & Resorts in a research note on Monday, March 5th. Nomura reduced their target price on Park Hotels & Resorts from $33.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, March 1st. Finally, Deutsche Bank increased their target price on Park Hotels & Resorts from $29.00 to $30.00 and gave the company a “hold” rating in a research note on Monday, March 19th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $37.05.
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NYSE PK opened at $29.31 on Monday. The company has a market capitalization of $6,305.50, a price-to-earnings ratio of 10.54, a P/E/G ratio of 2.10 and a beta of 0.21. Park Hotels & Resorts has a fifty-two week low of $23.91 and a fifty-two week high of $29.93. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.29 and a quick ratio of 1.29.
Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings results on Thursday, May 3rd. The financial services provider reported $0.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.08. The firm had revenue of $668.00 million during the quarter, compared to analysts’ expectations of $646.90 million. Park Hotels & Resorts had a return on equity of 6.49% and a net margin of 15.31%. Park Hotels & Resorts’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.64 EPS. sell-side analysts forecast that Park Hotels & Resorts will post 2.8 earnings per share for the current fiscal year.
Several hedge funds have recently bought and sold shares of PK. Migdal Insurance & Financial Holdings Ltd. increased its position in Park Hotels & Resorts by 2,193.3% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,784 shares of the financial services provider’s stock worth $102,000 after buying an additional 3,619 shares during the period. American International Group Inc. increased its position in Park Hotels & Resorts by 170.0% in the fourth quarter. American International Group Inc. now owns 4,773 shares of the financial services provider’s stock worth $137,000 after buying an additional 3,005 shares during the period. Omnia Family Wealth LLC increased its position in Park Hotels & Resorts by 172.1% in the fourth quarter. Omnia Family Wealth LLC now owns 5,025 shares of the financial services provider’s stock worth $147,000 after buying an additional 3,178 shares during the period. Driehaus Capital Management LLC acquired a new stake in Park Hotels & Resorts in the fourth quarter worth $202,000. Finally, Comerica Bank acquired a new stake in Park Hotels & Resorts in the first quarter worth $203,000.
About Park Hotels & Resorts
Park is a leading lodging REIT with a diverse portfolio of hotels and resorts with significant underlying real estate value. Park's portfolio consists of 55 premium-branded hotels and resorts with over 32,000 rooms located in prime United States and international markets with high barriers to entry.