Park Hotels & Resorts (NYSE:PK) Releases Quarterly Earnings Results

Park Hotels & Resorts (NYSE:PK) posted its quarterly earnings data on Tuesday. The financial services provider reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.21), Zacks reports. The company had revenue of $649.00 million for the quarter, compared to analysts’ expectations of $646.15 million. Park Hotels & Resorts had a return on equity of 9.63% and a net margin of 12.66%. The firm’s revenue was down 4.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.51 EPS.

Park Hotels & Resorts Stock Performance

Shares of PK traded up $0.01 during mid-day trading on Friday, reaching $13.90. 1,031,403 shares of the company’s stock were exchanged, compared to its average volume of 2,733,313. The business’s fifty day simple moving average is $14.40 and its 200-day simple moving average is $14.94. The stock has a market capitalization of $2.90 billion, a PE ratio of 8.89, a price-to-earnings-growth ratio of 0.73 and a beta of 2.02. Park Hotels & Resorts has a 52-week low of $12.09 and a 52-week high of $18.05. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.51 and a quick ratio of 1.58.

Analysts Set New Price Targets

A number of research firms have issued reports on PK. Bank of America reduced their price target on Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating on the stock in a research report on Monday, October 21st. UBS Group decreased their price target on shares of Park Hotels & Resorts from $18.00 to $14.00 and set a “neutral” rating for the company in a research note on Friday, August 16th. StockNews.com raised shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research report on Wednesday. Wolfe Research cut shares of Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 26th. Finally, Evercore ISI dropped their target price on Park Hotels & Resorts from $20.00 to $19.00 and set an “outperform” rating on the stock in a report on Tuesday, August 13th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $17.58.

About Park Hotels & Resorts

Park is one of the largest publicly traded lodging REITs with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio currently consists of 43 premium-branded hotels and resorts with over 26,000 rooms primarily located in prime city center and resort locations.