Park Hotels & Resorts Inc (PK) Expected to Announce Quarterly Sales of $660.93 Million

Equities research analysts predict that Park Hotels & Resorts Inc (NYSE:PK) will report sales of $660.93 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Park Hotels & Resorts’ earnings. The highest sales estimate is $678.00 million and the lowest is $648.00 million. Park Hotels & Resorts reported sales of $686.00 million during the same quarter last year, which would suggest a negative year over year growth rate of 3.7%. The firm is scheduled to announce its next earnings report on Thursday, March 7th.

According to Zacks, analysts expect that Park Hotels & Resorts will report full-year sales of $2.71 billion for the current year, with estimates ranging from $2.70 billion to $2.73 billion. For the next year, analysts anticipate that the business will report sales of $2.74 billion, with estimates ranging from $2.71 billion to $2.76 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Park Hotels & Resorts.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings data on Thursday, November 1st. The financial services provider reported $0.26 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by ($0.38). The firm had revenue of $652.00 million for the quarter, compared to the consensus estimate of $656.61 million. Park Hotels & Resorts had a return on equity of 8.27% and a net margin of 17.46%. The business’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.66 earnings per share.

Several analysts have weighed in on the company. Zacks Investment Research raised Park Hotels & Resorts from a “sell” rating to a “hold” rating in a report on Tuesday, November 20th. Wells Fargo & Co dropped their price objective on Park Hotels & Resorts from $32.00 to $29.00 and set a “market perform” rating for the company in a report on Friday, November 16th. Deutsche Bank set a $32.00 price objective on Park Hotels & Resorts and gave the stock a “hold” rating in a report on Saturday, November 3rd. Nomura boosted their price objective on Park Hotels & Resorts from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, November 2nd. Finally, Evercore ISI cut Park Hotels & Resorts from an “outperform” rating to an “in-line” rating in a report on Monday, August 20th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $31.72.

Shares of NYSE:PK opened at $30.82 on Monday. The stock has a market cap of $6.20 billion, a price-to-earnings ratio of 11.09, a PEG ratio of 2.25 and a beta of 0.97. Park Hotels & Resorts has a 1-year low of $23.91 and a 1-year high of $34.27. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.55 and a quick ratio of 1.55.

Hedge funds have recently made changes to their positions in the company. First Hawaiian Bank bought a new stake in shares of Park Hotels & Resorts in the 3rd quarter valued at about $250,000. Standard Life Aberdeen plc increased its stake in shares of Park Hotels & Resorts by 163.4% in the 2nd quarter. Standard Life Aberdeen plc now owns 45,392 shares of the financial services provider’s stock valued at $1,391,000 after acquiring an additional 28,159 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of Park Hotels & Resorts by 16.9% in the 2nd quarter. Janus Henderson Group PLC now owns 26,547 shares of the financial services provider’s stock valued at $813,000 after acquiring an additional 3,847 shares during the last quarter. Abacus Planning Group Inc. bought a new stake in shares of Park Hotels & Resorts in the 3rd quarter valued at about $208,000. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Park Hotels & Resorts in the 2nd quarter valued at about $330,000.

Park Hotels & Resorts Company Profile

Park is a leading lodging REIT with a diverse portfolio of 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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Earnings History and Estimates for Park Hotels & Resorts (NYSE:PK)

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