Park Hotels & Resorts (NYSE:PK) Issues Earnings Results, Misses Estimates By $0.21 EPS

Park Hotels & Resorts (NYSE:PK) released its quarterly earnings data on Tuesday. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.21), Zacks reports. The business had revenue of $649.00 million during the quarter, compared to the consensus estimate of $646.15 million. Park Hotels & Resorts had a net margin of 12.66% and a return on equity of 9.63%. The business’s revenue was down 4.4% compared to the same quarter last year. During the same period last year, the company posted $0.51 earnings per share.

Park Hotels & Resorts Stock Performance

NYSE PK traded up $0.05 on Friday, reaching $13.94. 1,817,850 shares of the stock were exchanged, compared to its average volume of 2,737,022. The firm has a market capitalization of $2.91 billion, a PE ratio of 8.89, a PEG ratio of 0.73 and a beta of 2.02. Park Hotels & Resorts has a one year low of $12.09 and a one year high of $18.05. The company’s 50-day simple moving average is $14.40 and its two-hundred day simple moving average is $14.94. The company has a current ratio of 1.51, a quick ratio of 1.58 and a debt-to-equity ratio of 1.24.

Wall Street Analysts Forecast Growth

PK has been the topic of a number of research analyst reports. Bank of America lowered their price target on Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating on the stock in a report on Monday, October 21st. Compass Point reduced their price target 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. UBS Group lowered their price objective on shares of Park Hotels & Resorts from $18.00 to $14.00 and set a “neutral” rating on the stock in a research report on Friday, August 16th. Truist Financial decreased their target price on shares of Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. Finally, Wells Fargo & Company dropped their price target on Park Hotels & Resorts from $17.00 to $14.50 and set an “equal weight” rating on the stock in a research note on Friday, September 13th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Park Hotels & Resorts has an average rating of “Hold” and a consensus price target of $17.58.

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.