Park Hotels & Resorts (PK) Scheduled to Post Quarterly Earnings on Monday

Posted by Defense World Staff on Apr 24th, 2023

Park Hotels & Resorts (NYSE:PK – Get Rating) is scheduled to post its quarterly earnings results before the market opens on Monday, May 1st. Analysts expect Park Hotels & Resorts to post earnings of $0.31 per share for the quarter. Persons interested in participating in the company’s earnings conference call can do so using this link.

Park Hotels & Resorts (NYSE:PK – Get Rating) last announced its earnings results on Wednesday, February 22nd. The financial services provider reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.24). The company had revenue of $665.00 million during the quarter, compared to the consensus estimate of $652.61 million. Park Hotels & Resorts had a return on equity of 3.77% and a net margin of 6.48%. On average, analysts expect Park Hotels & Resorts to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Park Hotels & Resorts Price Performance

Park Hotels & Resorts stock opened at $11.98 on Monday. Park Hotels & Resorts has a 12-month low of $10.70 and a 12-month high of $20.50. The business’s 50-day simple moving average is $12.69 and its 200 day simple moving average is $12.59. The company has a quick ratio of 3.25, a current ratio of 3.25 and a debt-to-equity ratio of 1.08. The stock has a market cap of $2.66 billion, a price-to-earnings ratio of 16.64, a P/E/G ratio of 0.68 and a beta of 1.96.

Park Hotels & Resorts Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 17th. Shareholders of record on Friday, March 31st were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 5.01%. The ex-dividend date was Thursday, March 30th. Park Hotels & Resorts’s payout ratio is 83.33%.

Institutional Trading of Park Hotels & Resorts

Institutional investors have recently added to or reduced their stakes in the stock. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Park Hotels & Resorts in the 3rd quarter valued at about $360,000. United Services Automobile Association bought a new position in Park Hotels & Resorts in the 2nd quarter valued at about $344,000. Vident Investment Advisory LLC bought a new position in Park Hotels & Resorts in the 1st quarter valued at about $316,000. Natixis Advisors L.P. bought a new position in Park Hotels & Resorts in the 2nd quarter valued at about $277,000. Finally, Walleye Trading LLC purchased a new position in shares of Park Hotels & Resorts during the first quarter valued at approximately $228,000. 89.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on PK shares. Wells Fargo & Company lowered shares of Park Hotels & Resorts from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $17.00 to $12.50 in a research note on Thursday, March 30th. TheStreet raised Park Hotels & Resorts from a “d+” rating to a “c” rating in a research report on Wednesday, February 22nd. StockNews.com assumed coverage on shares of Park Hotels & Resorts in a research note on Thursday, March 16th. They set a “hold” rating for the company. Citigroup lifted their price target on shares of Park Hotels & Resorts from $13.00 to $15.00 and gave the company a “neutral” rating in a research note on Wednesday, February 1st. Finally, Morgan Stanley dropped their target price on Park Hotels & Resorts from $14.00 to $13.00 and set an “equal weight” rating on the stock in a report on Monday, April 17th. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Park Hotels & Resorts has an average rating of “Hold” and an average target price of $17.55.

Park Hotels & Resorts Company Profile

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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.