Park Hotels & Resorts (PK) Releases FY19 Earnings Guidance

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.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings results on Monday, May 6th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.01. The company had revenue of $659.00 million for the quarter, compared to analysts’ expectations of $655.79 million. Park Hotels & Resorts had a return on equity of 7.38% and a net margin of 15.32%. The firm’s revenue was down 1.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.65 earnings per share. On average, sell-side analysts expect that Park Hotels & Resorts will post 2.96 EPS for the current year.

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%.

COPYRIGHT VIOLATION NOTICE: “Park Hotels & Resorts (PK) Releases FY19 Earnings Guidance” was first reported by Rockland Register and is the property of of Rockland Register. If you are reading this piece on another website, it was stolen and reposted in violation of U.S. & international copyright and trademark law. The correct version of this piece can be read at https://rocklandregister.com/2019/05/30/park-hotels-resorts-pk-releases-fy19-earnings-guidance.html.

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.

Read More: Understanding Specialty Certificates of Deposit

Earnings History and Estimates for Park Hotels & Resorts (NYSE:PK)

Receive News & Ratings for Park Hotels & Resorts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Park Hotels & Resorts and related companies with MarketBeat.com's FREE daily email newsletter.