Park Hotels & Resorts (NYSE:PK) Issues FY 2024 Earnings Guidance

Park Hotels & Resorts (NYSE:PK - Get Free Report) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided EPS guidance of 2.000-2.100 for the period, compared to the consensus EPS estimate of 2.130. The company issued revenue guidance of -. Park Hotels & Resorts also updated its FY24 guidance to $2.00-2.10 EPS.

Park Hotels & Resorts Trading Up 1.8 %

Shares of PK traded up $0.27 during trading hours on Monday, reaching $14.98. 2,194,929 shares of the company traded hands, compared to its average volume of 2,769,154. The company's fifty day moving average price is $14.33 and its two-hundred day moving average price is $14.84. The company has a market capitalization of $3.09 billion, a price-to-earnings ratio of 9.59, a price-to-earnings-growth ratio of 0.81 and a beta of 2.02. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 1.24. Park Hotels & Resorts has a 12 month low of $12.96 and a 12 month high of $18.05.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last announced its earnings results on Tuesday, October 29th. The financial services provider reported $0.26 earnings per share for the quarter, missing analysts' consensus estimates of $0.47 by ($0.21). The company had revenue of $649.00 million for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the firm posted $0.51 EPS. Equities research analysts predict that Park Hotels & Resorts will post 2.09 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PK has been the subject of a number of recent research reports. Wolfe Research cut shares of Park Hotels & Resorts from an "outperform" rating to a "peer perform" rating in a research report on Thursday, September 26th. UBS Group lowered their price target on shares of Park Hotels & Resorts from $18.00 to $14.00 and set a "neutral" rating for the company in a research report on Friday, August 16th. Wells Fargo & Company lowered their price target 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. StockNews.com cut shares of Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research report on Thursday. Finally, Evercore ISI lowered their price target on shares of Park Hotels & Resorts from $20.00 to $19.00 and set an "outperform" rating for the company in a research report on Tuesday, August 13th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $18.00.

About Park Hotels & Resorts

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.