Q2 2019 EPS Estimates for Park Hotels & Resorts Inc (NYSE:PK) Reduced by Jefferies Financial Group
Park Hotels & Resorts Inc (NYSE:PK) – Jefferies Financial Group decreased their Q2 2019 earnings estimates for shares of Park Hotels & Resorts in a research note issued to investors on Monday, July 15th. Jefferies Financial Group analyst D. Katz now forecasts that the financial services provider will post earnings of $0.81 per share for the quarter, down from their prior forecast of $0.84. Jefferies Financial Group also issued estimates for Park Hotels & Resorts’ Q4 2019 earnings at $0.73 EPS, FY2019 earnings at $2.94 EPS, Q2 2020 earnings at $0.85 EPS, Q3 2020 earnings at $0.67 EPS, Q4 2020 earnings at $0.74 EPS and FY2020 earnings at $3.02 EPS.
A number of other research firms have also weighed in on PK. TheStreet lowered shares of Weis Markets from a “b-” rating to a “c+” rating in a report on Wednesday, June 5th. Capital One Financial assumed coverage on shares of Summit Hotel Properties in a report on Tuesday, June 25th. They set an “equal weight” rating and a $13.00 target price for the company. Deutsche Bank reissued a “hold” rating and issued a GBX 1,775 ($23.19) price target on shares of in a research note on Wednesday, June 26th. Finally, Zacks Investment Research downgraded shares of H&E Equipment Services from a “hold” rating to a “sell” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $33.00.
Park Hotels & Resorts (NYSE:PK) last posted its earnings results on Monday, May 6th. The financial services provider reported $0.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.01. The company had revenue of $659.00 million during the quarter, compared to analyst estimates of $655.79 million. Park Hotels & Resorts had a net margin of 15.32% and a return on equity of 7.38%. Park Hotels & Resorts’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.65 earnings per share.
Hedge funds have recently added to or reduced their stakes in the stock. Comerica Bank raised its stake in Park Hotels & Resorts by 15.6% in the fourth quarter. Comerica Bank now owns 9,177 shares of the financial services provider’s stock worth $269,000 after buying an additional 1,236 shares in the last quarter. Parametric Portfolio Associates LLC increased its stake in shares of Park Hotels & Resorts by 27.5% during the first quarter. Parametric Portfolio Associates LLC now owns 417,862 shares of the financial services provider’s stock valued at $12,987,000 after purchasing an additional 90,165 shares in the last quarter. Tyers Asset Management LLC increased its stake in shares of Park Hotels & Resorts by 28.6% during the first quarter. Tyers Asset Management LLC now owns 150,128 shares of the financial services provider’s stock valued at $4,666,000 after purchasing an additional 33,344 shares in the last quarter. Two Sigma Advisers LP increased its stake in shares of Park Hotels & Resorts by 16.5% during the fourth quarter. Two Sigma Advisers LP now owns 569,900 shares of the financial services provider’s stock valued at $14,806,000 after purchasing an additional 80,800 shares in the last quarter. Finally, Sycomore Asset Management bought a new position in shares of Park Hotels & Resorts during the fourth quarter valued at approximately $6,813,000.
The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 6.76%. The ex-dividend date was Thursday, June 27th. Park Hotels & Resorts’s payout ratio is currently 60.81%.
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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