Park Hotels & Resorts (NYSE:PK) Announces Quarterly Earnings Results, Misses Estimates By $0.21 EPS

Park Hotels & Resorts (NYSE:PK - Get Free Report) announced its quarterly earnings data on Tuesday. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.47 by ($0.21), Zacks reports. The firm had revenue of $649.00 million during the quarter, compared to analysts' expectations of $646.15 million. Park Hotels & Resorts had a net margin of 12.66% and a return on equity of 9.63%. The company's revenue for the quarter 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

NYSE PK traded down $0.04 during midday trading on Friday, hitting $13.85. The company had a trading volume of 2,798,087 shares, compared to its average volume of 2,741,646. The firm has a fifty day simple moving average of $14.40 and a two-hundred day simple moving average of $14.94. The company has a quick ratio of 1.58, a current ratio of 1.51 and a debt-to-equity ratio of 1.24. The stock has a market cap of $2.89 billion, a price-to-earnings ratio of 8.89, a P/E/G ratio of 0.73 and a beta of 2.02. Park Hotels & Resorts has a fifty-two week low of $12.09 and a fifty-two week high of $18.05.

Analyst Ratings Changes

A number of analysts have recently weighed in on PK shares. Bank of America cut their price objective 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. Compass Point decreased their price objective on Park Hotels & Resorts from $25.00 to $20.00 and set a "buy" rating for the company in a report on Thursday. Evercore ISI lowered their price target 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. Wells Fargo & Company cut their price objective on shares of Park Hotels & Resorts from $17.00 to $14.50 and set an "equal weight" rating for the company in a research report on Friday, September 13th. Finally, Wolfe Research downgraded Park Hotels & Resorts from an "outperform" rating to a "peer perform" rating in a research note on Thursday, September 26th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $17.58.

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.