Park Hotels & Resorts (NYSE:PK) Reaches New 52-Week Low – Should You Sell?

Park Hotels & Resorts Inc. (NYSE:PK) hit a new 52-week low during trading on Friday . The company traded as low as $12.52 and last traded at $12.58, with a volume of 2034661 shares. The stock had previously closed at $13.03.

Analyst Upgrades and Downgrades

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

Park Hotels & Resorts Trading Down 3.1 %

The stock has a market capitalization of $2.61 billion, a price-to-earnings ratio of 12.51, a PEG ratio of 1.51 and a beta of 2.00. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.19 and a quick ratio of 1.51. The business’s 50-day simple moving average is $13.77 and its two-hundred day simple moving average is $14.31.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings results 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). The business had revenue of $625.00 million for the quarter, compared to analyst estimates of $609.05 million. Park Hotels & Resorts had a net margin of 8.16% and a return on equity of 5.63%. On average, research analysts anticipate 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 declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.25 per share. The ex-dividend date is Monday, March 31st. This represents a $1.00 dividend on an annualized basis and a yield of 7.92%. Park Hotels & Resorts’s dividend payout ratio (DPR) is 99.01%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. XTX Topco Ltd boosted its stake in shares of Park Hotels & Resorts by 420.7% in the third quarter. XTX Topco Ltd now owns 89,168 shares of the financial services provider’s stock valued at $1,257,000 after purchasing an additional 72,044 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Park Hotels & Resorts by 488.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 83,473 shares of the financial services provider’s stock valued at $1,177,000 after purchasing an additional 69,296 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Park Hotels & Resorts by 321.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,409,574 shares of the financial services provider’s stock valued at $19,875,000 after purchasing an additional 1,075,255 shares during the period. Donald Smith & CO. Inc. boosted its stake in shares of Park Hotels & Resorts by 22.5% in the third quarter. Donald Smith & CO. Inc. now owns 8,077,286 shares of the financial services provider’s stock valued at $113,890,000 after purchasing an additional 1,484,295 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of Park Hotels & Resorts by 18.4% in the third quarter. JPMorgan Chase & Co. now owns 3,488,097 shares of the financial services provider’s stock valued at $49,182,000 after purchasing an additional 540,920 shares during the period. 92.69% of the stock is owned by institutional investors and hedge funds.

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.