Park Hotels & Resorts (PK) Upgraded by Goldman Sachs Group to “Neutral”

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Goldman Sachs Group upgraded shares of Park Hotels & Resorts (NYSE:PK) from a sell rating to a neutral rating in a research report released on Thursday, MarketBeat.com reports. The firm currently has $27.00 price objective on the financial services provider’s stock.

Other equities research analysts also recently issued research reports about the stock. Deutsche Bank set a $32.00 target price on shares of Park Hotels & Resorts and gave the company a hold rating in a research note on Saturday, November 3rd. TheStreet raised shares of Park Hotels & Resorts from a c rating to a b- rating in a research note on Wednesday, December 12th. Nomura upped their target price on shares of Park Hotels & Resorts from $30.00 to $32.00 and gave the company a buy rating in a research note on Friday, November 2nd. Zacks Investment Research downgraded shares of Park Hotels & Resorts from a buy rating to a hold rating in a research note on Tuesday, October 9th. Finally, Wells Fargo & Co lowered their target price on shares of Park Hotels & Resorts from $32.00 to $29.00 and set a market perform rating for the company in a research note on Friday, November 16th. One analyst has rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $31.28.

NYSE PK traded down $0.05 during trading hours on Thursday, hitting $28.43. The company’s stock had a trading volume of 1,222,400 shares, compared to its average volume of 1,763,450. Park Hotels & Resorts has a twelve month low of $23.91 and a twelve month high of $34.27. The firm has a market capitalization of $5.67 billion, a P/E ratio of 10.23, a P/E/G ratio of 2.01 and a beta of 1.14. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.55 and a quick ratio of 1.55.

Park Hotels & Resorts (NYSE:PK) last issued its earnings results on Thursday, November 1st. The financial services provider reported $0.26 EPS for the quarter, missing the Thomson Reuters’ 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 during the quarter, compared to the consensus estimate of $656.61 million. During the same period in the previous year, the company posted $0.66 EPS. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. Sell-side analysts expect that Park Hotels & Resorts will post 2.84 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Monday, December 31st will be given a dividend of $1.00 per share. This is an increase from Park Hotels & Resorts’s previous quarterly dividend of $0.43. The ex-dividend date is Friday, December 28th. This represents a $4.00 annualized dividend and a dividend yield of 14.07%. Park Hotels & Resorts’s dividend payout ratio is currently 143.88%.

Several hedge funds have recently modified their holdings of PK. Vanguard Group Inc increased its position in shares of Park Hotels & Resorts by 3.8% during the third quarter. Vanguard Group Inc now owns 30,594,200 shares of the financial services provider’s stock worth $1,004,101,000 after acquiring an additional 1,107,521 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Park Hotels & Resorts by 3.8% during the third quarter. Vanguard Group Inc. now owns 30,594,200 shares of the financial services provider’s stock worth $1,004,101,000 after acquiring an additional 1,107,521 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Park Hotels & Resorts by 12.3% during the third quarter. JPMorgan Chase & Co. now owns 9,828,336 shares of the financial services provider’s stock worth $322,567,000 after purchasing an additional 1,078,962 shares during the last quarter. Prudential Financial Inc. boosted its holdings in Park Hotels & Resorts by 118.8% during the third quarter. Prudential Financial Inc. now owns 1,980,180 shares of the financial services provider’s stock worth $64,989,000 after purchasing an additional 1,075,294 shares during the last quarter. Finally, FMR LLC boosted its holdings in Park Hotels & Resorts by 79.8% during the second quarter. FMR LLC now owns 2,191,628 shares of the financial services provider’s stock worth $67,129,000 after purchasing an additional 972,541 shares during the last quarter.

Park Hotels & Resorts Company Profile

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 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.

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Analyst Recommendations for Park Hotels & Resorts (NYSE:PK)

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