Park Hotels & Resorts (NYSE:PK) PT Set at $33.00 by Deutsche Bank

Deutsche Bank set a $33.00 price target on Park Hotels & Resorts (NYSE:PK) in a report published on Wednesday morning, TipRanks reports. The brokerage currently has a hold rating on the financial services provider’s stock.

A number of other brokerages have also weighed in on PK. Capital One Financial began coverage on 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 lowered Park Hotels & Resorts from a b- rating to a c rating in a research note on Wednesday, June 5th. Finally, Zacks Investment Research raised Park Hotels & Resorts from a sell rating to a hold rating in a research note on Wednesday. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Park Hotels & Resorts presently has an average rating of Hold and a consensus target price of $33.00.

Shares of Park Hotels & Resorts stock opened at $25.09 on Wednesday. Park Hotels & Resorts has a fifty-two week low of $24.89 and a fifty-two week high of $34.27. The stock has a market cap of $5.32 billion, a price-to-earnings ratio of 8.48, a PEG ratio of 2.31 and a beta of 1.26. The business’s fifty day simple moving average is $27.22. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.57.

Park Hotels & Resorts (NYSE:PK) last issued its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.42). Park Hotels & Resorts had a return on equity of 5.04% and a net margin of 10.52%. The business had revenue of $703.00 million for the quarter, compared to analysts’ expectations of $694.08 million. During the same period in the prior year, the company earned $0.93 EPS. The company’s revenue for the quarter was down 3.8% compared to the same quarter last year. On average, analysts forecast that Park Hotels & Resorts will post 2.92 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were paid a dividend of $0.45 per share. The ex-dividend date was Thursday, June 27th. This represents a $1.80 annualized dividend and a dividend yield of 7.17%. Park Hotels & Resorts’s dividend payout ratio is presently 60.81%.

Several institutional investors have recently made changes to their positions in PK. Enterprise Financial Services Corp grew its stake in shares of Park Hotels & Resorts by 132.0% during the first quarter. Enterprise Financial Services Corp now owns 819 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 466 shares in the last quarter. Meridian Wealth Management LLC acquired a new stake in shares of Park Hotels & Resorts during the first quarter valued at about $32,000. Advisory Services Network LLC grew its stake in shares of Park Hotels & Resorts by 68.5% during the second quarter. Advisory Services Network LLC now owns 1,436 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 584 shares in the last quarter. Penserra Capital Management LLC acquired a new stake in shares of Park Hotels & Resorts during the first quarter valued at about $56,000. Finally, NEXT Financial Group Inc grew its stake in shares of Park Hotels & Resorts by 4,000.0% during the second quarter. NEXT Financial Group Inc now owns 2,050 shares of the financial services provider’s stock valued at $56,000 after acquiring an additional 2,000 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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Analyst Recommendations for Park Hotels & Resorts (NYSE:PK)

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