Park Hotels & Resorts (NYSE:PK) Hits New 12-Month Low - What's Next?

Park Hotels & Resorts Inc. (NYSE:PK - Get Free Report)'s stock price reached a new 52-week low during trading on Wednesday . The company traded as low as $11.39 and last traded at $11.56, with a volume of 1989958 shares. The stock had previously closed at $11.72.

Analysts Set New Price Targets

PK has been the topic of a number of recent research reports. Jefferies Financial Group lowered their price target on shares of Park Hotels & Resorts from $23.00 to $22.00 and set a "buy" rating on the stock in a research report on Thursday, January 2nd. UBS Group lowered their price target on shares of Park Hotels & Resorts from $15.00 to $13.00 and set a "neutral" rating on the stock in a research report on Monday, February 3rd. Wells Fargo & Company lowered their price target on shares of Park Hotels & Resorts from $17.00 to $14.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 18th. Finally, StockNews.com lowered shares of Park Hotels & Resorts from a "hold" rating to a "sell" rating in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Park Hotels & Resorts currently has a consensus rating of "Hold" and an average target price of $18.15.

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Park Hotels & Resorts Trading Up 4.1 %

The business's 50 day moving average price is $12.94 and its two-hundred day moving average price is $14.06. The company has a current ratio of 1.19, a quick ratio of 1.51 and a debt-to-equity ratio of 1.27. The company has a market capitalization of $2.29 billion, a price-to-earnings ratio of 11.23, a P/E/G ratio of 1.51 and a beta of 2.02.

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 analysts' consensus estimates of $0.40 by ($0.01). Park Hotels & Resorts had a net margin of 8.16% and a return on equity of 5.63%. The company had revenue of $625.00 million during the quarter, compared to analyst estimates of $609.05 million. On average, equities analysts predict that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current fiscal year.

Park Hotels & Resorts Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.81%. Park Hotels & Resorts's payout ratio is currently 99.01%.

Institutional Investors Weigh In On Park Hotels & Resorts

A number of hedge funds have recently made changes to their positions in the stock. Quarry LP acquired a new stake in Park Hotels & Resorts during the 4th quarter worth approximately $35,000. GF Fund Management CO. LTD. acquired a new stake in Park Hotels & Resorts during the 4th quarter worth approximately $53,000. Venturi Wealth Management LLC boosted its position in Park Hotels & Resorts by 281.6% during the 3rd quarter. Venturi Wealth Management LLC now owns 3,850 shares of the financial services provider's stock worth $54,000 after buying an additional 2,841 shares during the period. Quadrant Capital Group LLC boosted its position in Park Hotels & Resorts by 38.4% during the 4th quarter. Quadrant Capital Group LLC now owns 4,814 shares of the financial services provider's stock worth $68,000 after buying an additional 1,335 shares during the period. Finally, KBC Group NV boosted its position in Park Hotels & Resorts by 34.4% during the 3rd quarter. KBC Group NV now owns 7,360 shares of the financial services provider's stock worth $104,000 after buying an additional 1,882 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

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.