Park Hotels & Resorts (NYSE:PK) Lifted to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Park Hotels & Resorts (NYSE:PK) from a sell rating to a hold rating in a research note issued to investors on Friday, Zacks.com reports.

According to Zacks, “Park Hotels & Resorts Inc. is a lodging Real Estate Company. The company operates luxury hotels and resorts in USA and international market. Park Hotels & Resorts Inc. is based in Mc Lean, Virginia. “

A number of other brokerages also recently commented on PK. TheStreet downgraded shares of Park Hotels & Resorts from a b- rating to a c rating in a research report on Wednesday, June 5th. Capital One Financial assumed coverage on shares of Park Hotels & Resorts in a research report on Tuesday, June 25th. They issued an overweight rating and a $34.00 price objective on the stock. Evercore ISI raised shares of Park Hotels & Resorts from an in-line rating to an outperform rating and dropped their price objective for the company from $33.00 to $31.00 in a research report on Thursday, September 12th. Deutsche Bank set a $33.00 price objective on shares of Park Hotels & Resorts and gave the company a hold rating in a research report on Wednesday, July 31st. Finally, Citigroup dropped their price objective on shares of Park Hotels & Resorts from $31.00 to $25.00 and set a neutral rating on the stock in a research report on Thursday, September 5th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $30.82.



Park Hotels & Resorts stock opened at $26.00 on Friday. The firm has a market cap of $5.23 billion, a PE ratio of 8.78, a price-to-earnings-growth ratio of 2.31 and a beta of 1.31. Park Hotels & Resorts has a 52-week low of $23.02 and a 52-week high of $33.33. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.56. The company’s 50 day moving average is $24.43 and its two-hundred day moving average is $28.29.

Park Hotels & Resorts (NYSE:PK) last released its earnings results on Wednesday, July 31st. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.82 by ($0.42). The business had revenue of $703.00 million for the quarter, compared to analyst estimates of $694.08 million. Park Hotels & Resorts had a return on equity of 5.06% and a net margin of 10.52%. Park Hotels & Resorts’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.93 earnings per share. On average, equities research analysts anticipate that Park Hotels & Resorts will post 2.87 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.92%. The ex-dividend date of this dividend is Friday, September 27th. Park Hotels & Resorts’s dividend payout ratio is presently 60.81%.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Meridian Wealth Management LLC purchased a new position in shares of Park Hotels & Resorts in the 1st quarter valued at $32,000. Advisory Services Network LLC grew its position in shares of Park Hotels & Resorts by 68.5% in the 2nd quarter. Advisory Services Network LLC now owns 1,436 shares of the financial services provider’s stock valued at $40,000 after buying an additional 584 shares during the last quarter. Golden State Wealth Management LLC grew its position in shares of Park Hotels & Resorts by 188.7% in the 2nd quarter. Golden State Wealth Management LLC now owns 1,836 shares of the financial services provider’s stock valued at $50,000 after buying an additional 1,200 shares during the last quarter. Penserra Capital Management LLC purchased a new position in shares of Park Hotels & Resorts in the 1st quarter valued at $56,000. Finally, NEXT Financial Group Inc grew its position in shares of Park Hotels & Resorts by 4,000.0% in the 2nd quarter. NEXT Financial Group Inc now owns 2,050 shares of the financial services provider’s stock valued at $56,000 after buying an additional 2,000 shares during the last quarter.

About Park Hotels & Resorts

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 consists of 52 premium-branded hotels and resorts with over 30,000 rooms, a substantial portion of which are located in prime United States markets with high barriers to entry.

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