Park Hotels & Resorts Inc (NYSE:PK) Expected to Post Earnings of $0.70 Per Share

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Wall Street analysts expect that Park Hotels & Resorts Inc (NYSE:PK) will post earnings of $0.70 per share for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Park Hotels & Resorts’ earnings, with estimates ranging from $0.67 to $0.74. Park Hotels & Resorts reported earnings per share of $0.65 during the same quarter last year, which suggests a positive year over year growth rate of 7.7%. The firm is expected to report its next quarterly earnings results on Thursday, November 7th.

According to Zacks, analysts expect that Park Hotels & Resorts will report full-year earnings of $2.94 per share for the current year, with EPS estimates ranging from $2.90 to $2.98. For the next financial year, analysts forecast that the firm will post earnings of $2.94 per share, with EPS estimates ranging from $2.81 to $3.05. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that follow Park Hotels & Resorts.

Park Hotels & Resorts (NYSE:PK) last released its earnings results on Wednesday, July 31st. The financial services provider reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.42). Park Hotels & Resorts had a net margin of 10.52% and a return on equity of 5.06%. The company had revenue of $703.00 million for the quarter, compared to the consensus estimate of $694.08 million. During the same quarter in the previous year, the company posted $0.93 earnings per share. The business’s revenue was down 3.8% compared to the same quarter last year.

A number of research analysts have issued reports on PK shares. TheStreet cut Park Hotels & Resorts from a “b-” rating to a “c” rating in a research report on Wednesday, June 5th. Capital One Financial began coverage on Park Hotels & Resorts in a research note on Tuesday, June 25th. They issued an “overweight” rating and a $34.00 price target on the stock. Deutsche Bank set a $33.00 price objective on Park Hotels & Resorts and gave the company a “hold” rating in a report on Wednesday, July 31st. Finally, Zacks Investment Research upgraded Park Hotels & Resorts from a “sell” rating to a “hold” rating in a report on Wednesday, July 31st. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Park Hotels & Resorts presently has an average rating of “Hold” and a consensus target price of $32.38.

Park Hotels & Resorts stock traded down $0.06 during midday trading on Friday, reaching $23.46. The company’s stock had a trading volume of 93,113 shares, compared to its average volume of 1,874,334. Park Hotels & Resorts has a 52 week low of $23.12 and a 52 week high of $34.27. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.56. The firm’s 50-day moving average is $26.34. The firm has a market cap of $4.73 billion, a PE ratio of 7.94, a PEG ratio of 2.14 and a beta of 1.26.

A number of institutional investors have recently made changes to their positions in the stock. Cohen & Steers Inc. grew its holdings in Park Hotels & Resorts by 9.5% during the second quarter. Cohen & Steers Inc. now owns 25,308,847 shares of the financial services provider’s stock worth $697,512,000 after buying an additional 2,199,863 shares in the last quarter. BlackRock Inc. lifted its position in shares of Park Hotels & Resorts by 4.9% during the 2nd quarter. BlackRock Inc. now owns 22,543,403 shares of the financial services provider’s stock valued at $621,297,000 after buying an additional 1,053,929 shares during the last quarter. Invesco Ltd. lifted its position in shares of Park Hotels & Resorts by 11.1% during the 2nd quarter. Invesco Ltd. now owns 6,821,530 shares of the financial services provider’s stock valued at $188,001,000 after buying an additional 681,882 shares during the last quarter. Brookfield Asset Management Inc. lifted its holdings in Park Hotels & Resorts by 39.8% during the 2nd quarter. Brookfield Asset Management Inc. now owns 6,036,967 shares of the financial services provider’s stock worth $166,379,000 after purchasing an additional 1,720,152 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its holdings in Park Hotels & Resorts by 7.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 4,985,066 shares of the financial services provider’s stock worth $137,388,000 after purchasing an additional 324,367 shares in 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 52 premium-branded hotels and resorts with over 30,000 rooms, a substantial portion of which are located in prime United States markets with high barriers to entry.

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Earnings History and Estimates for Park Hotels & Resorts (NYSE:PK)

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