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

Park Hotels & Resorts (NYSE:PK) 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 Stock Performance

PK opened at $15.10 on Wednesday. The firm has a market cap of $3.12 billion, a PE ratio of 9.61, a P/E/G ratio of 0.82 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. The business has a fifty day simple moving average of $14.32 and a 200-day simple moving average of $14.83. Park Hotels & Resorts has a fifty-two week low of $12.96 and a fifty-two week high of $18.05.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.26 earnings per share for the quarter, missing the consensus estimate 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 return on equity of 9.63% and a net margin of 12.66%. The business’s revenue was down 4.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.51 earnings per share. As a group, equities analysts predict that Park Hotels & Resorts will post 2.09 EPS for the current fiscal year.

Analysts Set New Price Targets

PK has been the subject of several research reports. UBS Group reduced their price objective on Park Hotels & Resorts from $18.00 to $14.00 and set a “neutral” rating for the company in a research note on Friday, August 16th. StockNews.com lowered Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Truist Financial dropped their target price on Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. Wolfe Research lowered shares of Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 26th. Finally, Compass Point decreased their target price on shares of Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $18.00.

Park Hotels & Resorts Company Profile

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.