StockNews.com Lowers Park Hotels & Resorts (NYSE:PK) to Sell

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

Several other research firms have also recently commented on PK. Wells Fargo & Company cut their price target on Park Hotels & Resorts from $17.00 to $14.50 and set an “equal weight” rating for the company in a report on Friday, September 13th. Evercore ISI cut their price target on Park Hotels & Resorts from $20.00 to $19.00 and set an “outperform” rating for the company in a report on Tuesday, August 13th. Truist Financial cut their target price on Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. UBS Group cut their target price on Park Hotels & Resorts from $18.00 to $14.00 and set a “neutral” rating for the company in a research note on Friday, August 16th. Finally, Wolfe Research cut Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Park Hotels & Resorts has an average rating of “Hold” and a consensus price target of $17.05.

Park Hotels & Resorts Price Performance

Shares of Park Hotels & Resorts stock opened at $14.24 on Monday. Park Hotels & Resorts has a 12 month low of $11.05 and a 12 month high of $18.05. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.58 and a quick ratio of 1.58. The stock has a market capitalization of $3.00 billion, a P/E ratio of 32.36, a PEG ratio of 0.69 and a beta of 2.02. The business has a 50 day simple moving average of $14.47 and a two-hundred day simple moving average of $15.19.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.30 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.30). Park Hotels & Resorts had a net margin of 11.50% and a return on equity of 8.77%. The company had revenue of $686.00 million during the quarter, compared to analyst estimates of $694.94 million. As a group, analysts predict that Park Hotels & Resorts will post 2.11 EPS for the current fiscal year.

Park Hotels & Resorts Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $0.25 per share. The ex-dividend date was Monday, September 30th. This represents a $1.00 annualized dividend and a dividend yield of 7.02%. Park Hotels & Resorts’s dividend payout ratio is currently 227.27%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Virtu Financial LLC purchased a new position in Park Hotels & Resorts in the fourth quarter valued at $327,000. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Park Hotels & Resorts by 205.5% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 274,961 shares of the financial services provider’s stock valued at $4,207,000 after purchasing an additional 184,961 shares during the period. Quadrature Capital Ltd purchased a new position in Park Hotels & Resorts in the fourth quarter valued at $714,000. Los Angeles Capital Management LLC boosted its holdings in Park Hotels & Resorts by 601.1% in the first quarter. Los Angeles Capital Management LLC now owns 2,111,004 shares of the financial services provider’s stock valued at $36,921,000 after purchasing an additional 1,809,886 shares during the period. Finally, Pensionfund Sabic boosted its holdings in Park Hotels & Resorts by 156.7% in the first quarter. Pensionfund Sabic now owns 13,106 shares of the financial services provider’s stock valued at $229,000 after purchasing an additional 8,000 shares during the period. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

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.