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

StockNews.com cut shares of Park Hotels & Resorts (NYSE:PK) from a hold rating to a sell rating in a research note published on Tuesday.

Other analysts have also recently issued reports about the company. Wells Fargo & Company increased their price objective on Park Hotels & Resorts from $16.00 to $17.00 and gave the company an “equal weight” rating in a research note on Monday, December 9th. UBS Group increased their price target on Park Hotels & Resorts from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Monday, November 18th. Jefferies Financial Group lowered their price objective on Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. Bank of America dropped 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. Finally, Wolfe Research lowered Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $18.65.

Park Hotels & Resorts Price Performance

PK stock opened at $13.67 on Tuesday. The business has a fifty day moving average of $14.87 and a two-hundred day moving average of $14.62. 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 stock has a market cap of $2.82 billion, a price-to-earnings ratio of 8.71, a price-to-earnings-growth ratio of 6.90 and a beta of 2.02. Park Hotels & Resorts has a 52-week low of $13.23 and a 52-week high of $18.05.

Park Hotels & Resorts (NYSE:PK) last announced its earnings results on Tuesday, October 29th. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.21). Park Hotels & Resorts had a net margin of 12.66% and a return on equity of 9.63%. The firm had revenue of $649.00 million during the quarter, compared to analysts’ expectations of $646.15 million. During the same period in the previous year, the firm earned $0.51 EPS. The firm’s revenue for the quarter was down 4.4% compared to the same quarter last year. As a group, research analysts anticipate that Park Hotels & Resorts will post 1.96 earnings per share for the current year.

Park Hotels & Resorts Increases Dividend

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

Hedge Funds Weigh In On Park Hotels & Resorts

A number of hedge funds have recently modified their holdings of the business. Algert Global LLC raised its stake in Park Hotels & Resorts by 48.6% during the 2nd quarter. Algert Global LLC now owns 752,273 shares of the financial services provider’s stock valued at $11,269,000 after acquiring an additional 245,973 shares during the last quarter. Quantbot Technologies LP increased its holdings in shares of Park Hotels & Resorts by 95.7% in the second quarter. Quantbot Technologies LP now owns 367,900 shares of the financial services provider’s stock valued at $5,511,000 after purchasing an additional 179,884 shares during the period. XTX Topco Ltd raised its stake in shares of Park Hotels & Resorts by 420.7% during the third quarter. XTX Topco Ltd now owns 89,168 shares of the financial services provider’s stock worth $1,257,000 after purchasing an additional 72,044 shares during the last quarter. National Bank of Canada FI lifted its holdings in shares of Park Hotels & Resorts by 70.9% during the second quarter. National Bank of Canada FI now owns 223,600 shares of the financial services provider’s stock worth $3,298,000 after purchasing an additional 92,800 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in shares of Park Hotels & Resorts by 287.7% during the second quarter. AQR Capital Management LLC now owns 5,252,853 shares of the financial services provider’s stock worth $77,217,000 after purchasing an additional 3,897,889 shares during the period. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

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.