Park Hotels & Resorts (NYSE:PK) Lowered to “Sell” Rating by StockNews.com

StockNews.com downgraded shares of Park Hotels & Resorts (NYSE:PK) from a hold rating to a sell rating in a report issued on Tuesday.

Other equities analysts also recently issued reports about the stock. UBS Group increased their price objective on shares of Park Hotels & Resorts from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Monday, November 18th. Compass Point dropped their target price on Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Wolfe Research lowered Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 26th. Bank of America decreased their price target on shares of Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating for the company in a research report on Monday, October 21st. Finally, Wells Fargo & Company lifted their price objective on shares of Park Hotels & Resorts from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Monday, December 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $18.65.

Park Hotels & Resorts Price Performance

Shares of PK stock opened at $13.67 on Tuesday. The company has a market capitalization of $2.82 billion, a P/E ratio of 8.71, a P/E/G ratio of 6.90 and a beta of 2.02. The company’s 50-day simple moving average is $14.87 and its two-hundred day simple moving average is $14.62. Park Hotels & Resorts has a one year low of $13.23 and a one year high of $18.05. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.51 and a quick ratio of 1.51.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.21). The firm had revenue of $649.00 million during 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 firm’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same period last year, the company earned $0.51 EPS. As a group, equities analysts anticipate that Park Hotels & Resorts will post 1.96 EPS for the current year.

Park Hotels & Resorts Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.65 dividend. This is a positive change from Park Hotels & Resorts’s previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, December 31st. This represents a $2.60 dividend on an annualized basis and a yield of 19.02%. Park Hotels & Resorts’s dividend payout ratio (DPR) is 63.69%.

Institutional Investors Weigh In On Park Hotels & Resorts

A number of institutional investors and hedge funds have recently modified their holdings of the company. Harbor Capital Advisors Inc. purchased a new position in shares of Park Hotels & Resorts during the 3rd quarter valued at about $33,000. Venturi Wealth Management LLC raised its position in shares of 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 purchasing an additional 2,841 shares during the last quarter. Quarry LP raised its holdings in shares of Park Hotels & Resorts by 82.1% during the second quarter. Quarry LP now owns 4,118 shares of the financial services provider’s stock valued at $62,000 after acquiring an additional 1,857 shares during the last quarter. Claro Advisors LLC purchased a new position in shares of Park Hotels & Resorts in the third quarter valued at approximately $69,000. Finally, Covestor Ltd boosted its stake in shares of Park Hotels & Resorts by 64.8% in the third quarter. Covestor Ltd now owns 6,894 shares of the financial services provider’s stock worth $97,000 after acquiring an additional 2,711 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

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.