Park Hotels & Resorts (NYSE:PK) Issues Quarterly Earnings Results

Park Hotels & Resorts (NYSE:PK) announced its quarterly earnings results on Tuesday. The financial services provider reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.21), Zacks reports. The business had revenue of $649.00 million during the quarter, compared to the consensus estimate of $646.15 million. Park Hotels & Resorts had a net margin of 12.66% and a return on equity of 9.63%. The firm’s revenue was down 4.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.51 EPS.

Park Hotels & Resorts Price Performance

Shares of PK stock traded up $0.09 during mid-day trading on Friday, hitting $13.98. 1,168,786 shares of the stock were exchanged, compared to its average volume of 2,733,961. The company has a market cap of $2.92 billion, a PE ratio of 8.89, a price-to-earnings-growth ratio of 0.73 and a beta of 2.02. Park Hotels & Resorts has a 52-week low of $12.09 and a 52-week high of $18.05. The company has a quick ratio of 1.58, a current ratio of 1.51 and a debt-to-equity ratio of 1.24. The firm has a fifty day moving average of $14.40 and a 200 day moving average of $14.94.

Analyst Upgrades and Downgrades

PK has been the subject of a number of recent analyst reports. Evercore ISI dropped their price target on shares of Park Hotels & Resorts from $20.00 to $19.00 and set an “outperform” rating for the company in a research note on Tuesday, August 13th. UBS Group dropped their price objective on Park Hotels & Resorts from $18.00 to $14.00 and set a “neutral” rating for the company in a report on Friday, August 16th. Wolfe Research lowered Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 26th. Wells Fargo & Company reduced their price target on shares of Park Hotels & Resorts from $17.00 to $14.50 and set an “equal weight” rating on the stock in a research note on Friday, September 13th. Finally, Bank of America lowered their price objective on shares of Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating for the company in a research report on Monday, October 21st. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $17.58.

Park Hotels & Resorts Company Profile

Park is one of the largest publicly traded lodging REITs with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio currently consists of 43 premium-branded hotels and resorts with over 26,000 rooms primarily located in prime city center and resort locations.