Park Hotels & Resorts (NYSE:PK – Get Rating) updated its second quarter 2022 earnings guidance on Monday. The company provided EPS guidance of $0.47-$0.56 for the period. The company issued revenue guidance of -.
Several research analysts have commented on the company. Truist Financial upgraded Park Hotels & Resorts from a hold rating to a buy rating and raised their target price for the stock from $19.00 to $22.00 in a research note on Wednesday, June 1st. StockNews.com upgraded Park Hotels & Resorts from a sell rating to a hold rating in a research note on Tuesday, May 3rd. Jefferies Financial Group downgraded Park Hotels & Resorts from a buy rating to a hold rating and cut their target price for the stock from $25.00 to $19.00 in a research note on Wednesday, March 30th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Park Hotels & Resorts from $26.00 to $28.00 in a research note on Tuesday, May 3rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average price target of $21.83.
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Shares of Park Hotels & Resorts stock opened at $13.56 on Monday. The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 1.09. The business’s 50 day simple moving average is $17.21 and its two-hundred day simple moving average is $18.23. Park Hotels & Resorts has a one year low of $12.97 and a one year high of $21.62.
Park Hotels & Resorts (NYSE:PK – Get Rating) last announced its quarterly earnings results on Monday, May 2nd. The financial services provider reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.21). The company had revenue of $479.00 million during the quarter, compared to analysts’ expectations of $420.53 million. Park Hotels & Resorts had a negative return on equity of 7.37% and a negative net margin of 19.45%. Park Hotels & Resorts’s revenue for the quarter was up 190.3% on a year-over-year basis. During the same period last year, the firm earned ($0.48) earnings per share. On average, research analysts predict that Park Hotels & Resorts will post 1.48 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Thursday, June 30th will be given a $0.01 dividend. The ex-dividend date of this dividend is Wednesday, June 29th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.29%. Park Hotels & Resorts’s dividend payout ratio is currently -2.92%.
In other Park Hotels & Resorts news, Director Thomas D. Eckert acquired 10,000 shares of the business’s stock in a transaction dated Tuesday, June 14th. The shares were purchased at an average cost of $15.12 per share, for a total transaction of $151,200.00. Following the transaction, the director now owns 96,637 shares in the company, valued at $1,461,151.44. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 1.09% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hsbc Holdings PLC boosted its position in shares of Park Hotels & Resorts by 94.9% during the first quarter. Hsbc Holdings PLC now owns 86,480 shares of the financial services provider’s stock valued at $1,712,000 after purchasing an additional 42,107 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Park Hotels & Resorts by 10.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 86,667 shares of the financial services provider’s stock valued at $1,693,000 after purchasing an additional 8,263 shares in the last quarter. Verition Fund Management LLC raised its stake in Park Hotels & Resorts by 76.6% during the first quarter. Verition Fund Management LLC now owns 48,934 shares of the financial services provider’s stock valued at $956,000 after buying an additional 21,231 shares during the last quarter. First Trust Advisors LP raised its stake in Park Hotels & Resorts by 1.5% during the first quarter. First Trust Advisors LP now owns 47,964 shares of the financial services provider’s stock valued at $937,000 after buying an additional 686 shares during the last quarter. Finally, APG Asset Management N.V. purchased a new position in Park Hotels & Resorts during the first quarter valued at $857,000. Institutional investors own 90.60% of the company’s stock.
About Park Hotels & Resorts (Get Rating)
Park is the second largest publicly traded lodging REIT with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park’s portfolio currently consists of 60 premium-branded hotels and resorts with over 33,000 rooms primarily located in prime city center and resort locations.
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