Park Hotels & Resorts Inc. (NYSE:PK) Receives $16.39 Consensus Price Target from Brokerages

Park Hotels & Resorts Inc. (NYSE:PK - Get Free Report) has been given an average recommendation of "Hold" by the eleven brokerages that are covering the stock, Marketbeat reports. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $15.75.

Several equities research analysts have recently issued reports on PK shares. Wells Fargo & Company reduced their price target on Park Hotels & Resorts from $17.00 to $14.00 and set an "equal weight" rating for the company in a report on Tuesday, February 18th. UBS Group cut their price objective on Park Hotels & Resorts from $15.00 to $13.00 and set a "neutral" rating on the stock in a research note on Monday, February 3rd. Jefferies Financial Group downgraded Park Hotels & Resorts from a "buy" rating to a "hold" rating and cut their price objective for the company from $19.00 to $10.00 in a research note on Wednesday, April 9th. StockNews.com downgraded Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research note on Thursday, April 10th. Finally, Morgan Stanley cut their price objective on Park Hotels & Resorts from $12.00 to $10.00 and set an "equal weight" rating on the stock in a research note on Tuesday.

Hedge Funds Weigh In On Park Hotels & Resorts

Hedge funds and other institutional investors have recently made changes to their positions in the business. Northeast Financial Group Inc. lifted its holdings in shares of Park Hotels & Resorts by 34.4% during the 4th quarter. Northeast Financial Group Inc. now owns 124,674 shares of the financial services provider's stock worth $1,754,000 after acquiring an additional 31,928 shares during the period. JPMorgan Chase & Co. lifted its holdings in Park Hotels & Resorts by 18.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,488,097 shares of the financial services provider's stock valued at $49,182,000 after purchasing an additional 540,920 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Park Hotels & Resorts by 43.6% during the 3rd quarter. Franklin Resources Inc. now owns 687,580 shares of the financial services provider's stock valued at $9,936,000 after purchasing an additional 208,877 shares during the last quarter. Oak Thistle LLC bought a new position in Park Hotels & Resorts during the 4th quarter valued at about $280,000. Finally, MML Investors Services LLC lifted its holdings in Park Hotels & Resorts by 55.1% during the 3rd quarter. MML Investors Services LLC now owns 24,634 shares of the financial services provider's stock valued at $347,000 after purchasing an additional 8,749 shares during the last quarter. 92.69% of the stock is owned by institutional investors.

Park Hotels & Resorts Stock Up 6.2 %

NYSE PK traded up $0.61 during trading on Friday, reaching $10.39. 982,915 shares of the company's stock were exchanged, compared to its average volume of 4,238,337. The firm has a market capitalization of $2.10 billion, a PE ratio of 10.29, a P/E/G ratio of 1.51 and a beta of 1.73. The company has a current ratio of 1.19, a quick ratio of 1.51 and a debt-to-equity ratio of 1.27. Park Hotels & Resorts has a fifty-two week low of $8.27 and a fifty-two week high of $16.95. The company's fifty day simple moving average is $11.13 and its 200-day simple moving average is $13.21.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last announced its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.01). The firm had revenue of $625.00 million for the quarter, compared to analyst estimates of $609.05 million. Park Hotels & Resorts had a net margin of 8.16% and a return on equity of 5.63%. Sell-side analysts predict that Park Hotels & Resorts will post 2.11 EPS for the current year.

Park Hotels & Resorts Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.62%. The ex-dividend date was Monday, March 31st. Park Hotels & Resorts's payout ratio is 99.01%.

About Park Hotels & Resorts

Park Hotels & Resorts, Inc operates as a real estate investment trust, which owns and operates hotels and resorts. It operates through the Consolidated Hotels and Unconsolidated Hotels segments. Its portfolio of hotels and resorts include the Waldorf Astoria Hotels and Resorts, Conrad Hotels & Resorts, Hilton Hotels & Resorts, DoubleTree by Hilton, Embassy Suites by Hilton, Hilton Garden Inn, Hampton by Hilton, and Curio.