Equities analysts expect that Park Hotels & Resorts Inc (NYSE:PK) will post earnings per share (EPS) of $0.78 for the current quarter, according to Zacks. Six analysts have made estimates for Park Hotels & Resorts’ earnings, with estimates ranging from $0.40 to $0.87. Park Hotels & Resorts posted earnings per share of $0.81 in the same quarter last year, which would suggest a negative year-over-year growth rate of 3.7%. The firm is scheduled to issue its next earnings results on Wednesday, August 1st.
On average, analysts expect that Park Hotels & Resorts will report full-year earnings of $2.73 per share for the current financial year, with EPS estimates ranging from $1.75 to $2.92. For the next year, analysts expect that the business will post earnings of $2.68 per share, with EPS estimates ranging from $1.30 to $2.97. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Park Hotels & Resorts.
Get Park Hotels & Resorts alerts:Park Hotels & Resorts (NYSE:PK) last released its earnings results on Thursday, May 3rd. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.08. Park Hotels & Resorts had a net margin of 15.31% and a return on equity of 6.57%. The company had revenue of $668.00 million during the quarter, compared to the consensus estimate of $646.90 million. During the same quarter in the prior year, the firm earned $0.64 EPS. The company’s revenue was down 2.3% compared to the same quarter last year.
A number of research analysts have recently weighed in on the stock. Deutsche Bank raised their price target on shares of Park Hotels & Resorts from $29.00 to $30.00 and gave the company a “hold” rating in a report on Monday, March 19th. Jefferies Financial Group assumed coverage on shares of Park Hotels & Resorts in a report on Thursday, May 31st. They set a “buy” rating and a $37.00 price target on the stock. Zacks Investment Research downgraded shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Friday, March 23rd. Goldman Sachs Group downgraded shares of Park Hotels & Resorts from a “neutral” rating to a “sell” rating and cut their price target for the company from $32.92 to $31.00 in a report on Sunday, June 10th. Finally, JPMorgan Chase & Co. downgraded shares of Park Hotels & Resorts from an “overweight” rating to a “neutral” rating and set a $28.00 price target on the stock. in a report on Tuesday, June 5th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $30.95.
In other Park Hotels & Resorts news, EVP Matthew Abram Sparks sold 12,877 shares of the firm’s stock in a transaction on Monday, May 7th. The shares were sold at an average price of $29.87, for a total value of $384,635.99. Following the sale, the executive vice president now directly owns 46,931 shares in the company, valued at approximately $1,401,828.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.38% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of PK. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in Park Hotels & Resorts by 2,193.3% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,784 shares of the financial services provider’s stock valued at $102,000 after purchasing an additional 3,619 shares during the last quarter. Institutional & Family Asset Management LLC bought a new position in Park Hotels & Resorts during the 1st quarter valued at about $109,000. American International Group Inc. lifted its holdings in Park Hotels & Resorts by 170.0% during the 4th quarter. American International Group Inc. now owns 4,773 shares of the financial services provider’s stock valued at $137,000 after purchasing an additional 3,005 shares during the last quarter. Driehaus Capital Management LLC bought a new position in Park Hotels & Resorts during the 4th quarter valued at about $202,000. Finally, Comerica Bank bought a new position in Park Hotels & Resorts during the 1st quarter valued at about $203,000.
PK stock traded up $0.26 during midday trading on Tuesday, reaching $31.36. The company had a trading volume of 25,144 shares, compared to its average volume of 1,826,683. Park Hotels & Resorts has a 1 year low of $23.91 and a 1 year high of $32.62. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.52. The company has a market cap of $6.24 billion, a price-to-earnings ratio of 11.23, a PEG ratio of 2.22 and a beta of 0.40.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 16th. Shareholders of record on Friday, June 29th will be given a $0.43 dividend. The ex-dividend date is Thursday, June 28th. This represents a $1.72 annualized dividend and a yield of 5.48%. Park Hotels & Resorts’s dividend payout ratio is 61.87%.
Park Hotels & Resorts Company Profile
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.
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