Park Hotels & Resorts (NYSE:PK) Announces Earnings Results

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

Park Hotels & Resorts Price Performance

Shares of PK stock traded up $0.07 during midday trading on Friday, reaching $13.96. 1,480,550 shares of the company traded hands, compared to its average volume of 2,735,431. The firm has a market cap of $2.92 billion, a PE ratio of 8.89, a price-to-earnings-growth ratio of 0.73 and a beta of 2.02. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.51 and a quick ratio of 1.58. The firm’s 50 day simple moving average is $14.40 and its two-hundred day simple moving average is $14.94. Park Hotels & Resorts has a 1-year low of $12.09 and a 1-year high of $18.05.

Wall Street Analyst Weigh In

PK has been the topic of several analyst reports. StockNews.com upgraded Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research note on Wednesday. Bank of America lowered their price objective on shares of Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating on the stock in a research report on Monday, October 21st. Wolfe Research downgraded shares of Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 26th. Truist Financial lowered their target price on shares of Park Hotels & Resorts from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. Finally, UBS Group reduced their price objective on shares of Park Hotels & Resorts from $18.00 to $14.00 and set a “neutral” rating for the company in a research report on Friday, August 16th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Park Hotels & Resorts presently 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.