Jefferies Financial Group Lowers Park Hotels & Resorts (NYSE:PK) Price Target to $22.00

Park Hotels & Resorts (NYSE:PK - Free Report) had its price objective decreased by Jefferies Financial Group from $23.00 to $22.00 in a research note released on Thursday,Benzinga reports. Jefferies Financial Group currently has a buy rating on the financial services provider's stock.

PK has been the topic of several other reports. Truist Financial decreased their price objective on shares of Park Hotels & Resorts from $20.00 to $18.00 and set a "buy" rating on the stock in a research note on Wednesday, September 4th. Wells Fargo & Company raised their price target on Park Hotels & Resorts from $16.00 to $17.00 and gave the company an "equal weight" rating in a report on Monday, December 9th. Compass Point reduced their price objective on Park Hotels & Resorts from $25.00 to $20.00 and set a "buy" rating on the stock in a research note on Thursday, October 31st. Wolfe Research lowered Park Hotels & Resorts from an "outperform" rating to a "peer perform" rating in a research note on Thursday, September 26th. Finally, Bank of America reduced their price target on shares of 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. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $18.65.

Park Hotels & Resorts Stock Down 2.1 %

Shares of NYSE PK traded down $0.29 during mid-day trading on Thursday, reaching $13.78. 3,668,622 shares of the company traded hands, compared to its average volume of 2,830,365. The company's fifty day moving average is $14.87 and its two-hundred day moving average is $14.64. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.51 and a current ratio of 1.51. Park Hotels & Resorts has a fifty-two week low of $13.23 and a fifty-two week high of $18.05. The stock has a market cap of $2.84 billion, a PE ratio of 8.78, a price-to-earnings-growth ratio of 6.90 and a beta of 2.03.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last announced its earnings results on Tuesday, October 29th. The financial services provider reported $0.26 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.21). Park Hotels & Resorts had a return on equity of 9.63% and a net margin of 12.66%. The firm had revenue of $649.00 million during the quarter, compared to the consensus estimate of $646.15 million. During the same quarter last year, the business earned $0.51 EPS. The business's revenue was down 4.4% compared to the same quarter last year. On average, analysts expect that Park Hotels & Resorts will post 1.96 earnings per share for the current year.

Park Hotels & Resorts Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 18.87%. This is a boost from Park Hotels & Resorts's previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Tuesday, December 31st. Park Hotels & Resorts's dividend payout ratio (DPR) is currently 63.69%.

Hedge Funds Weigh In On Park Hotels & Resorts

Several institutional investors and hedge funds have recently modified their holdings of PK. Van ECK Associates Corp lifted its stake in Park Hotels & Resorts by 6.5% in the 2nd quarter. Van ECK Associates Corp now owns 32,010 shares of the financial services provider's stock valued at $480,000 after acquiring an additional 1,954 shares in the last quarter. Natixis Advisors LLC bought a new position in Park Hotels & Resorts in the second quarter valued at $225,000. Versor Investments LP increased its stake in Park Hotels & Resorts by 11.7% in the 2nd quarter. Versor Investments LP now owns 32,100 shares of the financial services provider's stock valued at $481,000 after buying an additional 3,358 shares during the last quarter. National Bank of Canada FI lifted its position in Park Hotels & Resorts by 70.9% during the 2nd quarter. National Bank of Canada FI now owns 223,600 shares of the financial services provider's stock worth $3,298,000 after buying an additional 92,800 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of Park Hotels & Resorts by 12.8% during the 2nd quarter. Victory Capital Management Inc. now owns 89,729 shares of the financial services provider's stock worth $1,344,000 after buying an additional 10,212 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Park Hotels & Resorts Company Profile

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.