Park Hotels & Resorts Inc. (NYSE:PK - Get Free Report) shares hit a new 52-week low on Thursday . The company traded as low as $9.70 and last traded at $9.83, with a volume of 1039798 shares trading hands. The stock had previously closed at $10.87.
Analyst Ratings Changes
Several analysts have commented on the stock. Jefferies Financial Group lowered their price objective on shares of Park Hotels & Resorts from $23.00 to $22.00 and set a "buy" rating for the company in a report on Thursday, January 2nd. Truist Financial lowered their target price on Park Hotels & Resorts from $18.00 to $16.00 and set a "buy" rating for the company in a research note on Friday, March 21st. StockNews.com cut Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research note on Friday, February 21st. Wells Fargo & Company lowered their price objective on Park Hotels & Resorts from $17.00 to $14.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 18th. Finally, UBS Group dropped their target price on shares of Park Hotels & Resorts from $15.00 to $13.00 and set a "neutral" rating on the stock in a report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $17.72.
Get Our Latest Analysis on Park Hotels & Resorts
Park Hotels & Resorts Price Performance
The firm's fifty day simple moving average is $12.05 and its 200-day simple moving average is $13.65. The firm has a market capitalization of $1.87 billion, a PE ratio of 9.12, a PEG ratio of 1.51 and a beta of 1.73. The company has a quick ratio of 1.51, a current ratio of 1.19 and a debt-to-equity ratio of 1.27.
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 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 the consensus estimate of $609.05 million. Park Hotels & Resorts had a net margin of 8.16% and a return on equity of 5.63%. On average, research analysts forecast that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current fiscal year.
Park Hotels & Resorts Cuts Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.25 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.00 annualized dividend and a yield of 10.78%. Park Hotels & Resorts's payout ratio is 99.01%.
Hedge Funds Weigh In On Park Hotels & Resorts
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of Park Hotels & Resorts during the fourth quarter valued at approximately $41,087,000. Deutsche Bank AG grew its position in Park Hotels & Resorts by 809.3% in the 4th quarter. Deutsche Bank AG now owns 2,415,621 shares of the financial services provider's stock worth $33,988,000 after purchasing an additional 2,149,972 shares during the period. Landmark Investment Partners L.P. purchased a new stake in Park Hotels & Resorts during the 4th quarter valued at $21,342,000. Invesco Ltd. raised its stake in Park Hotels & Resorts by 84.0% during the 4th quarter. Invesco Ltd. now owns 2,837,917 shares of the financial services provider's stock valued at $39,929,000 after buying an additional 1,295,548 shares during the last quarter. Finally, Donald Smith & CO. Inc. lifted its holdings in shares of Park Hotels & Resorts by 13.9% during the 4th quarter. Donald Smith & CO. Inc. now owns 9,200,125 shares of the financial services provider's stock valued at $129,446,000 after buying an additional 1,122,839 shares during the period. Institutional investors own 92.69% of the company's stock.
Park Hotels & Resorts Company Profile
(
Get Free Report)
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.
Further Reading
Before you consider Park Hotels & Resorts, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Park Hotels & Resorts wasn't on the list.
While Park Hotels & Resorts currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
