Park Hotels & Resorts (NYSE:PK) Reaches New 52-Week Low - Should You Sell?

Park Hotels & Resorts Inc. (NYSE:PK - Get Free Report)'s share price hit a new 52-week low on Wednesday . The company traded as low as $8.27 and last traded at $8.70, with a volume of 460082 shares traded. The stock had previously closed at $8.85.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PK. StockNews.com lowered shares of Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research note on Thursday. Jefferies Financial Group cut shares of Park Hotels & Resorts from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $19.00 to $10.00 in a research report on Wednesday, April 9th. Truist Financial dropped their target price on shares of Park Hotels & Resorts from $18.00 to $16.00 and set a "buy" rating on the stock in a research report on Friday, March 21st. Wells Fargo & Company reduced their price target on shares of 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 cut their price objective on Park Hotels & Resorts from $15.00 to $13.00 and set a "neutral" rating for the company in a research note on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Park Hotels & Resorts currently has a consensus rating of "Hold" and a consensus price target of $16.39.

Park Hotels & Resorts Price Performance

The company has a debt-to-equity ratio of 1.27, a current ratio of 1.19 and a quick ratio of 1.51. The stock's fifty day moving average is $11.58 and its 200-day moving average is $13.42. The stock has a market cap of $1.91 billion, a PE ratio of 9.37, a price-to-earnings-growth ratio of 1.51 and a beta of 1.73.

Park Hotels & Resorts (NYSE:PK - Get Free Report) last posted 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 during the quarter, compared to analysts' expectations of $609.05 million. Park Hotels & Resorts had a net margin of 8.16% and a return on equity of 5.63%. As a group, equities analysts anticipate that Park Hotels & Resorts Inc. will post 2.11 EPS for the current year.

Park Hotels & Resorts Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 10.57%. The ex-dividend date is Monday, March 31st. Park Hotels & Resorts's dividend payout ratio (DPR) is presently 99.01%.

Hedge Funds Weigh In On Park Hotels & Resorts

Large investors have recently made changes to their positions in the stock. EP Wealth Advisors LLC purchased a new position in shares of Park Hotels & Resorts in the third quarter valued at approximately $224,000. MML Investors Services LLC grew its stake in shares of Park Hotels & Resorts by 55.1% in the third quarter. MML Investors Services LLC now owns 24,634 shares of the financial services provider's stock worth $347,000 after acquiring an additional 8,749 shares in the last quarter. Y Intercept Hong Kong Ltd increased its position in shares of Park Hotels & Resorts by 81.6% during the third quarter. Y Intercept Hong Kong Ltd now owns 42,051 shares of the financial services provider's stock worth $593,000 after acquiring an additional 18,892 shares during the period. Barclays PLC raised its stake in shares of Park Hotels & Resorts by 22.4% in the third quarter. Barclays PLC now owns 319,593 shares of the financial services provider's stock valued at $4,507,000 after acquiring an additional 58,432 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in Park Hotels & Resorts in the third quarter valued at $477,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Park Hotels & Resorts Company Profile

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.