Park Hotels & Resorts Inc. (NYSE:PK)‘s stock had its “buy” rating reiterated by equities researchers at Boenning Scattergood in a research note issued to investors on Monday.
The analysts wrote, “We reiterate our Outperform rating on PK as the stock trades at a discount to estimated NAV and has solid momentum going into 2018. Key Points: In-Line FFO Results – PK reported third quarter adjusted FFO of $0.66 per share, in-line with the B&S estimate and a penny above consensus. Adjusted FFO was $141 million, a 6.8% increase compared to same quarter last year.””
A number of other equities research analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Park Hotels & Resorts from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. Canaccord Genuity cut their target price on shares of Park Hotels & Resorts from $30.00 to $29.00 and set a “buy” rating for the company in a research report on Friday, August 4th. Ten analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $34.80.
Shares of Park Hotels & Resorts (NYSE PK) traded up $0.05 on Monday, hitting $29.13. 265,290 shares of the company traded hands, compared to its average volume of 1,113,928. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.50. Park Hotels & Resorts has a 12 month low of $24.65 and a 12 month high of $33.40.
Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings results on Thursday, November 2nd. The financial services provider reported $0.66 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.01. The company had revenue of $688.00 million during the quarter, compared to the consensus estimate of $676.76 million. Park Hotels & Resorts had a net margin of 75.91% and a return on equity of 49.04%. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.66 earnings per share. sell-side analysts anticipate that Park Hotels & Resorts will post 2.75 EPS for the current fiscal year.
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Several institutional investors and hedge funds have recently added to or reduced their stakes in PK. Parallel Advisors LLC lifted its stake in shares of Park Hotels & Resorts by 3,050.7% during the 2nd quarter. Parallel Advisors LLC now owns 4,789 shares of the financial services provider’s stock valued at $129,000 after buying an additional 4,637 shares in the last quarter. Pacer Advisors Inc. lifted its stake in shares of Park Hotels & Resorts by 53.9% during the 2nd quarter. Pacer Advisors Inc. now owns 5,938 shares of the financial services provider’s stock valued at $160,000 after buying an additional 2,080 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of Park Hotels & Resorts during the 3rd quarter valued at $179,000. QS Investors LLC lifted its stake in shares of Park Hotels & Resorts by 0.3% during the 2nd quarter. QS Investors LLC now owns 7,535 shares of the financial services provider’s stock valued at $203,000 after buying an additional 22 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Park Hotels & Resorts by 148.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,962 shares of the financial services provider’s stock valued at $242,000 after buying an additional 5,360 shares in the last quarter. Institutional investors own 97.96% of the company’s stock.
About Park Hotels & Resorts
Park Hotels & Resorts Inc is a lodging real estate company. The Company has a portfolio of hotels and resorts. The Company operates through ownership segment, which includes all of its hotel properties. As of December 31, 2016, the Company’s portfolio consisted of 67 hotels and resorts with over 35,000 rooms located in the United States and international markets.
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