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

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

A number of other research analysts have also weighed in on the company. Compass Point reduced their target price on Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Wells Fargo & Company boosted their price objective on shares of Park Hotels & Resorts from $16.00 to $17.00 and gave the company an “equal weight” rating in a research note on Monday, December 9th. UBS Group increased their target price on shares of Park Hotels & Resorts from $14.00 to $15.00 and gave the stock a “neutral” rating in a research note on Monday, November 18th. 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. Finally, Bank of America lowered their price objective 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. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $18.65.

Park Hotels & Resorts Stock Performance

Shares of PK stock opened at $13.58 on Tuesday. Park Hotels & Resorts has a 52 week low of $13.23 and a 52 week high of $18.05. The firm’s 50-day simple moving average is $14.85 and its two-hundred day simple moving average is $14.60. The firm has a market cap of $2.80 billion, a price-to-earnings ratio of 8.65, a P/E/G ratio of 6.90 and a beta of 2.02. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.51 and a current ratio of 1.51.

Park Hotels & Resorts (NYSE:PK) last issued its earnings results on Tuesday, October 29th. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.21). The firm had revenue of $649.00 million during the quarter, compared to the consensus estimate of $646.15 million. Park Hotels & Resorts had a net margin of 12.66% and a return on equity of 9.63%. The business’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.51 earnings per share. As a group, equities analysts forecast that Park Hotels & Resorts will post 1.96 earnings per share for the current year.

Park Hotels & Resorts Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 19.15%. This is a boost from Park Hotels & Resorts’s previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, December 31st. Park Hotels & Resorts’s dividend payout ratio is presently 63.69%.

Institutional Investors Weigh In On Park Hotels & Resorts

Several hedge funds and other institutional investors have recently made changes to their positions in PK. Harbor Capital Advisors Inc. bought a new stake in Park Hotels & Resorts during the third quarter valued at about $33,000. Venturi Wealth Management LLC grew its stake in shares of Park Hotels & Resorts by 281.6% during the 3rd quarter. Venturi Wealth Management LLC now owns 3,850 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 2,841 shares during the period. Quarry LP increased its holdings 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 worth $62,000 after acquiring an additional 1,857 shares in the last quarter. Claro Advisors LLC bought a new stake in Park Hotels & Resorts during the 3rd quarter worth approximately $69,000. Finally, Covestor Ltd lifted its holdings in Park Hotels & Resorts by 64.8% during the third quarter. Covestor Ltd now owns 6,894 shares of the financial services provider’s stock valued at $97,000 after purchasing an additional 2,711 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

About Park Hotels & Resorts

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.