Park Hotels & Resorts (PK) Rating Increased to Neutral at Goldman Sachs Group

Goldman Sachs Group upgraded shares of Park Hotels & Resorts (NYSE:PK) from a sell rating to a neutral rating in a report issued on Thursday, Marketbeat reports. They currently have $27.00 price objective on the financial services provider’s stock.

PK has been the subject of several other research reports. Zacks Investment Research downgraded Park Hotels & Resorts from a buy rating to a hold rating in a research note on Tuesday, October 9th. Nomura raised their price target on Park Hotels & Resorts from $30.00 to $32.00 and gave the company a buy rating in a report on Friday, November 2nd. Deutsche Bank set a $32.00 price target on Park Hotels & Resorts and gave the company a hold rating in a report on Saturday, November 3rd. Wells Fargo & Co reduced their price target on Park Hotels & Resorts from $32.00 to $29.00 and set a market perform rating on the stock in a research report on Friday, November 16th. Finally, TheStreet upgraded Park Hotels & Resorts from a c rating to a b- rating in a research report on Wednesday, December 12th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company. The stock has an average rating of Hold and an average price target of $31.28.

Shares of NYSE PK opened at $28.43 on Thursday. The stock has a market cap of $5.67 billion, a price-to-earnings ratio of 10.23, a price-to-earnings-growth 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 has a 12 month low of $23.91 and a 12 month high of $34.27.

Park Hotels & Resorts (NYSE:PK) last announced 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 company had revenue of $652.00 million during the quarter, compared to the consensus estimate of $656.61 million. During the same quarter in the previous year, the company earned $0.66 earnings per share. The business’s revenue was down 5.2% on a year-over-year basis. On average, sell-side analysts predict that Park Hotels & Resorts will post 2.84 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Monday, December 31st will be paid a $1.00 dividend. This is a positive change from Park Hotels & Resorts’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Friday, December 28th. This represents a $4.00 dividend on an annualized basis and a yield of 14.07%. Park Hotels & Resorts’s dividend payout ratio (DPR) is 143.88%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC raised its position in shares of Park Hotels & Resorts by 16.9% during the 2nd quarter. Janus Henderson Group PLC now owns 26,547 shares of the financial services provider’s stock valued at $813,000 after buying an additional 3,847 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Park Hotels & Resorts by 10.3% during the second quarter. Dimensional Fund Advisors LP now owns 2,574,138 shares of the financial services provider’s stock worth $78,841,000 after acquiring an additional 240,609 shares during the period. FMR LLC increased its position in shares of 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 acquiring an additional 972,541 shares during the period. Envestnet Asset Management Inc. increased its position in shares of Park Hotels & Resorts by 94.6% during the second quarter. Envestnet Asset Management Inc. now owns 5,371 shares of the financial services provider’s stock worth $165,000 after acquiring an additional 2,611 shares during the period. Finally, Renaissance Technologies LLC increased its position in shares of Park Hotels & Resorts by 65.5% during the second quarter. Renaissance Technologies LLC now owns 1,363,400 shares of the financial services provider’s stock worth $41,761,000 after acquiring an additional 539,443 shares during the period.

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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