Park Hotels & Resorts (NYSE:PK) updated its FY19 earnings guidance on Monday. The company provided EPS guidance of $2.93-3.07 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.02.
A number of brokerages have commented on PK. JPMorgan Chase & Co. set a $29.00 target price on Park Hotels & Resorts and gave the company a hold rating in a research note on Thursday, February 28th. Zacks Investment Research downgraded Park Hotels & Resorts from a hold rating to a sell rating in a research note on Friday, February 15th. Nomura lifted their target price on Park Hotels & Resorts from $32.00 to $36.00 and gave the company a buy rating in a research note on Thursday, February 28th. Deutsche Bank set a $34.00 target price on Park Hotels & Resorts and gave the company a hold rating in a research note on Friday, March 1st. Finally, Barclays restated a buy rating and issued a $35.00 target price on shares of Park Hotels & Resorts in a research note on Sunday, March 3rd. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $33.00.
NYSE:PK traded down $0.18 during midday trading on Thursday, hitting $28.03. 1,186,200 shares of the stock were exchanged, compared to its average volume of 1,677,297. The stock has a market cap of $5.83 billion, a price-to-earnings ratio of 9.48, a PEG ratio of 2.49 and a beta of 1.27. Park Hotels & Resorts has a one year low of $25.30 and a one year high of $34.27. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.43 and a quick ratio of 1.43.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 6.42%. The ex-dividend date is Thursday, June 27th. Park Hotels & Resorts’s payout ratio is 60.81%.
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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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