Park Hotels & Resorts (NYSE:PK) Lowered to C at TheStreet

TheStreet downgraded shares of Park Hotels & Resorts (NYSE:PK) from a b- rating to a c rating in a research report sent to investors on Wednesday, June 5th, TheStreetRatingsTable reports.

Several other equities research analysts also recently issued reports on PK. Zacks Investment Research downgraded shares of Park Hotels & Resorts from a hold rating to a sell rating in a research note on Friday, February 15th. Nomura raised their price objective on shares of Park Hotels & Resorts from $32.00 to $36.00 and gave the stock a buy rating in a report on Thursday, February 28th. JPMorgan Chase & Co. set a $29.00 price objective on shares of Park Hotels & Resorts and gave the stock a hold rating in a report on Thursday, February 28th. Barclays reissued a buy rating and set a $35.00 price objective on shares of Park Hotels & Resorts in a report on Sunday, March 3rd. Finally, Deutsche Bank set a $34.00 price objective on shares of Park Hotels & Resorts and gave the stock a hold rating in a report on Friday, March 1st. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company has an average rating of Hold and an average target price of $33.00.

Shares of PK traded up $0.21 during mid-day trading on Wednesday, reaching $27.56. The company had a trading volume of 2,044,311 shares, compared to its average volume of 1,875,538. The company’s fifty day simple moving average is $28.68. Park Hotels & Resorts has a fifty-two week low of $25.30 and a fifty-two week high of $34.27. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.43 and a current ratio of 1.43. The firm has a market capitalization of $5.51 billion, a PE ratio of 9.31, a price-to-earnings-growth ratio of 2.36 and a beta of 1.38.

Park Hotels & Resorts (NYSE:PK) last issued its earnings results on Monday, May 6th. The financial services provider reported $0.67 EPS for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.01. Park Hotels & Resorts had a net margin of 15.32% and a return on equity of 7.38%. The business had revenue of $659.00 million for the quarter, compared to the consensus estimate of $655.79 million. During the same quarter last year, the firm posted $0.65 EPS. The business’s revenue for the quarter was down 1.3% compared to the same quarter last year. On average, equities research analysts expect that Park Hotels & Resorts will post 2.95 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 6.53%. The ex-dividend date is Thursday, June 27th. Park Hotels & Resorts’s payout ratio is 60.81%.

Institutional investors have recently bought and sold shares of the business. Enterprise Financial Services Corp raised its position in shares of Park Hotels & Resorts by 132.0% during the 1st quarter. Enterprise Financial Services Corp now owns 819 shares of the financial services provider’s stock worth $25,000 after buying an additional 466 shares in the last quarter. Meridian Wealth Management LLC bought a new stake in shares of Park Hotels & Resorts during the 1st quarter worth about $32,000. Next Capital Management LLC bought a new stake in shares of Park Hotels & Resorts during the 4th quarter worth about $36,000. Penserra Capital Management LLC bought a new stake in shares of Park Hotels & Resorts during the 1st quarter worth about $56,000. Finally, Glassman Wealth Services raised its holdings in shares of Park Hotels & Resorts by 2,073.3% in the 1st quarter. Glassman Wealth Services now owns 2,521 shares of the financial services provider’s stock worth $78,000 after purchasing an additional 2,405 shares in 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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Analyst Recommendations for Park Hotels & Resorts (NYSE:PK)

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