Analysts Expect Park Hotels & Resorts Inc (NYSE:PK) Will Announce Quarterly Sales of $665.44 Million

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Wall Street brokerages expect that Park Hotels & Resorts Inc (NYSE:PK) will report sales of $665.44 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Park Hotels & Resorts’ earnings. The highest sales estimate is $708.10 million and the lowest is $642.00 million. Park Hotels & Resorts reported sales of $652.00 million during the same quarter last year, which indicates a positive year-over-year growth rate of 2.1%. The firm is expected to report its next earnings report on Thursday, November 7th.

According to Zacks, analysts expect that Park Hotels & Resorts will report full-year sales of $2.72 billion for the current year, with estimates ranging from $2.69 billion to $2.75 billion. For the next fiscal year, analysts anticipate that the company will post sales of $2.69 billion, with estimates ranging from $2.66 billion to $2.75 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Park Hotels & Resorts.

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

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

Shares of PK stock traded up $0.27 during trading on Monday, reaching $23.92. 2,640,500 shares of the company’s stock traded hands, compared to its average volume of 1,937,976. The company has a market capitalization of $4.74 billion, a P/E ratio of 8.08, a PEG ratio of 2.09 and a beta of 1.26. 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 $26.20 and its 200 day moving average is $29.30. Park Hotels & Resorts has a 1 year low of $23.12 and a 1 year high of $34.27.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Parametric Portfolio Associates LLC lifted its stake in Park Hotels & Resorts by 27.5% in the 1st quarter. Parametric Portfolio Associates LLC now owns 417,862 shares of the financial services provider’s stock worth $12,987,000 after purchasing an additional 90,165 shares in the last quarter. Tyers Asset Management LLC raised its position in shares of Park Hotels & Resorts by 28.6% during the 1st quarter. Tyers Asset Management LLC now owns 150,128 shares of the financial services provider’s stock valued at $4,666,000 after buying an additional 33,344 shares in the last quarter. United Asset Strategies Inc. purchased a new stake in shares of Park Hotels & Resorts during the 2nd quarter valued at $4,735,000. Waratah Capital Advisors Ltd. purchased a new stake in shares of Park Hotels & Resorts during the 2nd quarter valued at $1,138,000. Finally, Great West Life Assurance Co. Can raised its position in shares of Park Hotels & Resorts by 2.2% during the 1st quarter. Great West Life Assurance Co. Can now owns 188,510 shares of the financial services provider’s stock valued at $5,849,000 after buying an additional 4,140 shares in the last quarter.

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 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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