Park Hotels & Resorts (NYSE:PK – Get Rating) is scheduled to post its quarterly earnings results before the market opens on Monday, May 2nd. Analysts expect Park Hotels & Resorts to post earnings of $0.01 per share for the quarter. Individual interested in participating in the company’s earnings conference call can do so using this link.
Park Hotels & Resorts (NYSE:PK – Get Rating) last released its quarterly earnings results on Thursday, February 17th. The financial services provider reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.32). The company had revenue of $451.00 million for the quarter, compared to analyst estimates of $428.45 million. Park Hotels & Resorts had a negative net margin of 33.70% and a negative return on equity of 10.16%. During the same quarter last year, the firm posted ($0.53) EPS. On average, analysts expect Park Hotels & Resorts to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.
PK stock opened at $19.43 on Monday. The company has a market capitalization of $4.59 billion, a P/E ratio of -10.02 and a beta of 2.04. The company has a debt-to-equity ratio of 1.06, a quick ratio of 3.61 and a current ratio of 3.61. Park Hotels & Resorts has a 52-week low of $15.77 and a 52-week high of $23.10. The business has a 50-day simple moving average of $18.83 and a two-hundred day simple moving average of $18.79.
The business also recently declared a quarterly dividend, which was paid on Friday, April 15th. Shareholders of record on Thursday, March 31st were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Wednesday, March 30th. This represents a $0.04 dividend on an annualized basis and a yield of 0.21%. Park Hotels & Resorts’s dividend payout ratio (DPR) is currently -2.06%.
A number of equities analysts have issued reports on the company. Bank of America downgraded Park Hotels & Resorts from a “buy” rating to a “neutral” rating and cut their price target for the company from $24.00 to $23.00 in a research note on Monday, January 10th. Jefferies Financial Group downgraded Park Hotels & Resorts from a “buy” rating to a “hold” rating and cut their target price for the stock from $25.00 to $19.00 in a research note on Wednesday, March 30th. Zacks Investment Research upgraded Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research note on Saturday, April 16th. UBS Group downgraded Park Hotels & Resorts to a “neutral” rating in a research note on Monday, January 10th. Finally, TheStreet upgraded Park Hotels & Resorts from a “d+” rating to a “c-” rating in a research note on Friday, February 18th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $21.14.
A number of large investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in Park Hotels & Resorts by 10.5% during the fourth quarter. BlackRock Inc. now owns 29,558,302 shares of the financial services provider’s stock valued at $558,060,000 after buying an additional 2,811,067 shares during the period. Parametric Portfolio Associates LLC raised its position in Park Hotels & Resorts by 16.6% during the fourth quarter. Parametric Portfolio Associates LLC now owns 1,124,400 shares of the financial services provider’s stock valued at $21,229,000 after purchasing an additional 160,339 shares in the last quarter. Allstate Corp purchased a new stake in Park Hotels & Resorts during the fourth quarter valued at about $382,000. Penserra Capital Management LLC raised its position in Park Hotels & Resorts by 85.6% during the fourth quarter. Penserra Capital Management LLC now owns 10,535 shares of the financial services provider’s stock valued at $198,000 after purchasing an additional 4,860 shares in the last quarter. Finally, Metropolitan Life Insurance Co NY raised its position in Park Hotels & Resorts by 6.7% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 57,872 shares of the financial services provider’s stock valued at $1,093,000 after purchasing an additional 3,649 shares in the last quarter. 87.91% of the stock is owned by institutional investors.
About Park Hotels & Resorts
Park is the second largest publicly traded lodging REIT with a diverse 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 center and resort locations.