Park Hotels & Resorts Inc (NYSE:PK) Expected to Announce Quarterly Sales of $781.67 Million

Equities research analysts predict that Park Hotels & Resorts Inc (NYSE:PK) will announce $781.67 million in sales for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for Park Hotels & Resorts’ earnings, with the lowest sales estimate coming in at $759.34 million and the highest estimate coming in at $804.00 million. Park Hotels & Resorts reported sales of $686.00 million in the same quarter last year, which suggests a positive year-over-year growth rate of 13.9%. The firm is expected to report its next quarterly earnings results on Wednesday, February 26th.

According to Zacks, analysts expect that Park Hotels & Resorts will report full year sales of $2.81 billion for the current financial year, with estimates ranging from $2.74 billion to $2.86 billion. For the next financial year, analysts expect that the company will post sales of $3.14 billion, with estimates ranging from $2.98 billion to $3.22 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Park Hotels & Resorts.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.64). Park Hotels & Resorts had a net margin of 8.71% and a return on equity of 4.09%. The business had revenue of $672.00 million during the quarter, compared to analyst estimates of $658.27 million.

A number of equities analysts recently issued reports on PK shares. Zacks Investment Research lowered Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Friday, November 15th. Nomura reduced their price objective on Park Hotels & Resorts from $33.00 to $29.00 and set a “buy” rating for the company in a research note on Friday, October 11th. Barclays reaffirmed an “overweight” rating and set a $30.00 price objective on shares of Park Hotels & Resorts in a research report on Friday, September 27th. Evercore ISI upgraded Park Hotels & Resorts from an “in-line” rating to an “outperform” rating and lowered their target price for the company from $33.00 to $31.00 in a research note on Thursday, September 12th. Finally, UBS Group set a $24.00 target price on Park Hotels & Resorts and gave the company a “hold” rating in a report on Friday, August 16th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. Park Hotels & Resorts has an average rating of “Hold” and a consensus price target of $28.82.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Cohen & Steers Inc. raised its holdings in Park Hotels & Resorts by 9.5% in the 2nd quarter. Cohen & Steers Inc. now owns 25,308,847 shares of the financial services provider’s stock valued at $697,512,000 after acquiring an additional 2,199,863 shares during the last quarter. BlackRock Inc. grew its position in shares of Park Hotels & Resorts by 4.9% in the second quarter. BlackRock Inc. now owns 22,543,403 shares of the financial services provider’s stock valued at $621,297,000 after purchasing an additional 1,053,929 shares during the period. State Street Corp grew its position in shares of Park Hotels & Resorts by 51.6% in the third quarter. State Street Corp now owns 10,984,609 shares of the financial services provider’s stock valued at $279,191,000 after purchasing an additional 3,737,796 shares during the period. Invesco Ltd. increased its stake in Park Hotels & Resorts by 11.1% in the second quarter. Invesco Ltd. now owns 6,821,530 shares of the financial services provider’s stock valued at $188,001,000 after purchasing an additional 681,882 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its stake in Park Hotels & Resorts by 23.3% in the third quarter. Daiwa Securities Group Inc. now owns 6,148,024 shares of the financial services provider’s stock valued at $153,516,000 after purchasing an additional 1,162,958 shares during the last quarter.

Shares of PK opened at $23.88 on Wednesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.32 and a current ratio of 1.32. Park Hotels & Resorts has a fifty-two week low of $21.68 and a fifty-two week high of $33.02. The firm has a 50-day simple moving average of $23.23 and a 200-day simple moving average of $25.43. The company has a market capitalization of $5.72 billion, a price-to-earnings ratio of 8.07, a price-to-earnings-growth ratio of 2.18 and a beta of 1.29.

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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