Park Hotels & Resorts (NYSE:PK) posted its quarterly earnings results on Wednesday. The financial services provider reported $0.40 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.82 by ($0.42), Fidelity Earnings reports. Park Hotels & Resorts had a net margin of 10.52% and a return on equity of 5.04%. The business had revenue of $703.00 million during the quarter, compared to analyst estimates of $694.08 million. During the same period last year, the firm posted $0.93 earnings per share. The company’s quarterly revenue was down 3.8% on a year-over-year basis. Park Hotels & Resorts updated its FY19 guidance to $2.86-2.98 EPS.
Park Hotels & Resorts stock traded down $0.42 during midday trading on Friday, reaching $25.09. 2,090,705 shares of the stock traded hands, compared to its average volume of 1,305,353. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.57. The stock has a fifty day moving average price of $27.22. The firm has a market cap of $5.32 billion, a price-to-earnings ratio of 8.48, a price-to-earnings-growth ratio of 2.31 and a beta of 1.26. Park Hotels & Resorts has a fifty-two week low of $24.89 and a fifty-two week high of $34.27.
The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 7.17%. The ex-dividend date was Thursday, June 27th. Park Hotels & Resorts’s payout ratio is 60.81%.
A number of institutional investors have recently bought and sold shares of PK. Enterprise Financial Services Corp boosted its stake in Park Hotels & Resorts by 132.0% during the 1st quarter. Enterprise Financial Services Corp now owns 819 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 466 shares during the period. Meridian Wealth Management LLC bought a new stake in shares of Park Hotels & Resorts during the 1st quarter worth about $32,000. Advisory Services Network LLC raised its position in shares of Park Hotels & Resorts by 68.5% during the 2nd quarter. Advisory Services Network LLC now owns 1,436 shares of the financial services provider’s stock worth $40,000 after buying an additional 584 shares in the last quarter. Penserra Capital Management LLC bought a new stake in shares of Park Hotels & Resorts during the 1st quarter worth about $56,000. Finally, NEXT Financial Group Inc raised its position in shares of Park Hotels & Resorts by 4,000.0% during the 2nd quarter. NEXT Financial Group Inc now owns 2,050 shares of the financial services provider’s stock worth $56,000 after buying an additional 2,000 shares in the last quarter.
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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