Park Hotels & Resorts Inc. (NYSE:PK) Plans Quarterly Dividend of $0.25

Park Hotels & Resorts Inc. (NYSE:PK) announced a quarterly dividend on Thursday, February 20th, Wall Street Journal reports. Investors of record on Monday, March 31st will be given a dividend of 0.25 per share by the financial services provider on Tuesday, April 15th. This represents a $1.00 annualized dividend and a dividend yield of 7.68%. The ex-dividend date of this dividend is Monday, March 31st.

Park Hotels & Resorts has a dividend payout ratio of 111.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Park Hotels & Resorts to earn $2.13 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 46.9%.

Park Hotels & Resorts Trading Down 0.5 %

Shares of NYSE PK traded down $0.06 during mid-day trading on Thursday, reaching $13.03. 4,095,269 shares of the company’s stock were exchanged, compared to its average volume of 3,388,629. Park Hotels & Resorts has a 52-week low of $12.56 and a 52-week high of $18.05. The firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of 8.30, a PEG ratio of 1.51 and a beta of 2.00. The company’s 50-day moving average is $13.87 and its 200-day moving average is $14.32. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.51 and a current ratio of 1.51.

Park Hotels & Resorts (NYSE:PK) last announced its 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 business had revenue of $625.00 million for the quarter, compared to analysts’ expectations of $609.05 million. Park Hotels & Resorts had a return on equity of 9.63% and a net margin of 12.66%. Analysts expect that Park Hotels & Resorts will post 1.97 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Compass Point cut their price target on shares of Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Jefferies Financial Group reduced their target price on Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. UBS Group decreased their target price on Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating for the company in a research report on Monday, February 3rd. Wells Fargo & Company cut their price target on Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Finally, StockNews.com raised Park Hotels & Resorts from a “sell” rating to a “hold” rating in a report on Thursday, February 13th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $18.15.

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.