Park Hotels & Resorts (NYSE:PK) Reaches New 1-Year Low – Here’s Why

Park Hotels & Resorts Inc. (NYSE:PK) hit a new 52-week low during trading on Friday . The stock traded as low as $10.84 and last traded at $10.90, with a volume of 2032511 shares traded. The stock had previously closed at $11.15.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on PK shares. Wells Fargo & Company cut their target price on shares of Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 18th. Truist Financial reduced their target price on Park Hotels & Resorts from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, March 21st. Jefferies Financial Group lowered their target price on Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. StockNews.com cut Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research note on Friday, February 21st. Finally, UBS Group lowered their price objective on Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating for the company in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Park Hotels & Resorts presently has an average rating of “Hold” and a consensus target price of $17.72.

Park Hotels & Resorts Stock Down 2.3 %

The company has a market capitalization of $2.20 billion, a PE ratio of 10.79, a P/E/G ratio of 1.51 and a beta of 2.02. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.51 and a current ratio of 1.19. The company’s 50-day moving average is $12.54 and its 200 day moving average is $13.85.

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 the consensus estimate of $0.40 by ($0.01). The firm had revenue of $625.00 million for the quarter, compared to the consensus estimate of $609.05 million. Park Hotels & Resorts had a net margin of 8.16% and a return on equity of 5.63%. As a group, analysts anticipate that Park Hotels & Resorts Inc. will post 2.11 EPS for the current year.

Park Hotels & Resorts Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.00 annualized dividend and a yield of 9.18%. Park Hotels & Resorts’s payout ratio is 99.01%.

Institutional Trading of Park Hotels & Resorts

A number of institutional investors have recently made changes to their positions in PK. Donald Smith & CO. Inc. lifted its position in Park Hotels & Resorts by 13.9% during the fourth quarter. Donald Smith & CO. Inc. now owns 9,200,125 shares of the financial services provider’s stock valued at $129,446,000 after purchasing an additional 1,122,839 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in Park Hotels & Resorts by 18.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 6,692,233 shares of the financial services provider’s stock valued at $94,160,000 after acquiring an additional 1,056,188 shares during the period. Allianz Asset Management GmbH grew its stake in shares of Park Hotels & Resorts by 3.6% during the 4th quarter. Allianz Asset Management GmbH now owns 3,583,943 shares of the financial services provider’s stock valued at $50,426,000 after purchasing an additional 125,730 shares during the period. JPMorgan Chase & Co. increased its position in shares of Park Hotels & Resorts by 18.4% during the 3rd 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 last quarter. Finally, Norges Bank bought a new position in shares of Park Hotels & Resorts in the 4th quarter worth approximately $41,087,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Park Hotels & Resorts Company Profile

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.