Park Hotels & Resorts Inc (NYSE:PK) – Jefferies Financial Group lowered their Q4 2018 EPS estimates for shares of Park Hotels & Resorts in a report issued on Monday, November 5th. Jefferies Financial Group analyst D. Katz now anticipates that the financial services provider will post earnings per share of $0.64 for the quarter, down from their previous forecast of $0.68. Jefferies Financial Group currently has a “Buy” rating and a $38.00 price objective on the stock.
A number of other brokerages have also recently issued reports on PK. SunTrust Banks reaffirmed a “buy” rating on shares of Park Hotels & Resorts in a research note on Friday, August 3rd. Nomura raised their price objective on Park Hotels & Resorts from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Friday, November 2nd. Deutsche Bank set a $32.00 price objective on Park Hotels & Resorts and gave the company a “hold” rating in a research note on Saturday, November 3rd. Barclays reaffirmed a “buy” rating on shares of Park Hotels & Resorts in a research note on Friday, August 3rd. Finally, Evercore ISI cut Park Hotels & Resorts from an “outperform” rating to an “in-line” rating in a research note on Monday, August 20th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $32.06.
NYSE PK opened at $30.87 on Wednesday. Park Hotels & Resorts has a twelve month low of $23.91 and a twelve month high of $34.27. The stock has a market cap of $5.97 billion, a price-to-earnings ratio of 11.10, a PEG ratio of 2.20 and a beta of 0.97. The company has a current ratio of 1.55, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51.
Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings results on Thursday, November 1st. The financial services provider reported $0.26 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.64 by ($0.38). Park Hotels & Resorts had a net margin of 17.46% and a return on equity of 8.27%. The firm had revenue of $652.00 million for the quarter, compared to analysts’ expectations of $656.61 million. During the same quarter in the previous year, the business earned $0.66 EPS. The company’s revenue for the quarter was down 5.2% on a year-over-year basis.
Several hedge funds and other institutional investors have recently bought and sold shares of PK. Envestnet Asset Management Inc. grew its stake in shares of Park Hotels & Resorts by 94.6% in the second quarter. Envestnet Asset Management Inc. now owns 5,371 shares of the financial services provider’s stock worth $165,000 after purchasing an additional 2,611 shares during the last quarter. Abacus Planning Group Inc. bought a new stake in shares of Park Hotels & Resorts in the third quarter worth about $208,000. First Republic Investment Management Inc. bought a new stake in shares of Park Hotels & Resorts in the second quarter worth about $213,000. Hollencrest Capital Management bought a new stake in shares of Park Hotels & Resorts in the second quarter worth about $221,000. Finally, Raymond James Trust N.A. bought a new stake in shares of Park Hotels & Resorts in the second quarter worth about $248,000.
About Park Hotels & Resorts
Park is a leading lodging REIT with a diverse portfolio of hotels and resorts with significant underlying real estate value. Park's portfolio consists of 54 premium-branded hotels and resorts with over 32,000 rooms, a majority of which are located in prime United States markets with high barriers to entry.
Further Reading: Initial Public Offering (IPO)
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