Park Hotels & Resorts (NYSE:PK – Get Rating) updated its earnings guidance for the second quarter of 2022 on Monday. The company provided EPS guidance of $0.47 to $0.56 for the period. The company released a revenue forecast of -.
Several research analysts have commented on the company. Truist Financial downgraded Park Hotels & Resorts from a hold rating to a buy rating and raised its target price for the stock from $19.00 to $22.00 in a Wednesday, June 1 research note . StockNews.com upgraded Park Hotels & Resorts from a sell rating to a hold rating in a Tuesday, May 3 research note. Jefferies Financial Group downgraded Park Hotels & Resorts from a buy rating to a hold rating and reduced its target price for the stock from $25.00 to $19.00 in a Wednesday, March 30 research note . Finally, Deutsche Bank Aktiengesellschaft raised its price target on Park Hotels & Resorts from $26.00 to $28.00 in a Tuesday, May 3 research note. One financial analyst gave the stock a sell rating, six gave the company a hold rating and four gave the company a buy rating. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average price target of $21.83.
Shares of Park Hotels & Resorts opened at $13.56 on Monday. The company has a quick ratio of 3.02, a current ratio of 3.02 and a leverage ratio of 1.09. The company’s 50-day simple moving average is $17.21 and its two-hundred-day simple moving average is $18.23. Park Hotels & Resorts has a one-year minimum of $12.97 and a one-year maximum of $21.62.
Park Hotels & Resorts (NYSE:PK – Get Rating) last announced its quarterly results on Monday, May 2. The financial services provider reported ($0.24) EPS for the quarter, missing analyst consensus estimates of ($0.03) by ($0.21). The company posted revenue of $479.00 million in the quarter, compared to analysts’ expectations of $420.53 million. Park Hotels & Resorts recorded a negative return on equity of 7.37% and a negative net margin of 19.45%. Park Hotels & Resorts revenue for the quarter increased 190.3% year over year. During the same period last year, the company made ($0.48) earnings per share. On average, research analysts expect Park Hotels & Resorts to post an EPS of 1.48 for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 15. Shareholders of record on Thursday, June 30 will receive a dividend of $0.01. The ex-dividend date is Wednesday, June 29. This represents a dividend of $0.04 on an annualized basis and a dividend yield of 0.29%. Park Hotels & Resorts’ dividend payout rate is currently -2.92%.
In other Park Hotels & Resorts news, Director Thomas D. Eckert acquired 10,000 shares of the company in a transaction dated Tuesday, June 14. The shares were purchased at an average cost of $15.12 per share, for a total transaction of $151,200.00. Following the transaction, the administrator now owns 96,637 shares of the company, valued at $1,461,151.44. The acquisition was disclosed in a filing with the SEC, which is available on the SEC’s website. 1.09% of the shares are currently held by insiders of the company.
Hedge funds and other institutional investors have recently increased or reduced their stakes in the stock. Hsbc Holdings PLC increased its position in Park Hotels & Resorts shares by 94.9% during the first quarter. Hsbc Holdings PLC now owns 86,480 shares of the financial services provider valued at $1,712,000 after buying an additional 42,107 shares last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Park Hotels & Resorts shares by 10.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 86,667 shares of the financial services provider valued at $1,693,000 after buying 8,263 additional shares in the last quarter. Verition Fund Management LLC increased its stake in Park Hotels & Resorts by 76.6% during the first quarter. Verition Fund Management LLC now owns 48,934 shares of the financial services provider valued at $956,000 after buying 21,231 additional shares in the last quarter. First Trust Advisors LP increased its stake in Park Hotels & Resorts by 1.5% during the first quarter. First Trust Advisors LP now owns 47,964 shares of the financial services provider valued at $937,000 after buying an additional 686 shares in the last quarter. Finally, APG Asset Management NV acquired a new position in Park Hotels & Resorts during the first quarter with a value of $857,000. Institutional investors hold 90.60% of the company’s shares.
About Park Hotels & Resorts (Get a rating)
Park is the second-largest publicly traded accommodation REIT with a diversified portfolio of market-leading hotels and resorts with significant underlying real estate value. Park’s portfolio currently consists of 60 premium branded hotels and resorts with over 33,000 rooms primarily located in prime city centers and resorts.
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