Park Hotels & Resorts (NYSE:PK) Lowered to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Park Hotels & Resorts (NYSE:PK) from a hold rating to a sell rating in a research report released on Thursday morning, Zacks.com reports.

According to Zacks, “Park Hotels & Resorts Inc. is a lodging Real Estate Company. The company operates luxury hotels and resorts in USA and international market. Park Hotels & Resorts Inc. is based in Mc Lean, Virginia. “

PK has been the topic of several other reports. Citigroup reduced their target price on Park Hotels & Resorts from $31.00 to $25.00 and set a neutral rating on the stock in a report on Thursday, September 5th. TheStreet lowered Park Hotels & Resorts from a b- rating to a c rating in a report on Wednesday, June 5th. Capital One Financial initiated coverage on Park Hotels & Resorts in a report on Tuesday, June 25th. They set an overweight rating and a $34.00 target price on the stock. UBS Group set a $24.00 target price on Park Hotels & Resorts and gave the stock a hold rating in a report on Friday, August 16th. Finally, Deutsche Bank set a $33.00 target price on Park Hotels & Resorts and gave the stock a hold rating in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of Hold and an average target price of $30.82.

Shares of PK traded up $0.75 during trading hours on Thursday, hitting $26.09. 402,607 shares of the company were exchanged, compared to its average volume of 1,713,870. The company has a market cap of $5.10 billion, a price-to-earnings ratio of 8.82, a P/E/G ratio of 2.24 and a beta of 1.31. Park Hotels & Resorts has a fifty-two week low of $23.02 and a fifty-two week high of $33.81. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.56. The firm’s fifty day moving average is $24.50 and its 200 day moving average is $28.51.

Park Hotels & Resorts (NYSE:PK) last released its earnings results on Wednesday, July 31st. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.82 by ($0.42). The company had revenue of $703.00 million for the quarter, compared to analyst estimates of $694.08 million. Park Hotels & Resorts had a return on equity of 5.06% and a net margin of 10.52%. The business’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same period last year, the company posted $0.93 earnings per share. Analysts anticipate that Park Hotels & Resorts will post 2.87 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 6.90%. The ex-dividend date of this dividend is Friday, September 27th. Park Hotels & Resorts’s dividend payout ratio (DPR) is presently 60.81%.

A number of large investors have recently added to or reduced their stakes in PK. BlackRock Inc. boosted its stake in Park Hotels & Resorts by 14.0% in the first quarter. BlackRock Inc. now owns 21,489,474 shares of the financial services provider’s stock valued at $667,891,000 after buying an additional 2,635,511 shares in the last quarter. Cohen & Steers Inc. raised its position in Park Hotels & Resorts by 9.5% in the second quarter. Cohen & Steers Inc. now owns 25,308,847 shares of the financial services provider’s stock valued at $697,512,000 after purchasing an additional 2,199,863 shares during the last quarter. AJO LP raised its position in Park Hotels & Resorts by 97.7% in the first quarter. AJO LP now owns 4,199,461 shares of the financial services provider’s stock valued at $130,519,000 after purchasing an additional 2,075,172 shares during the last quarter. Schroder Investment Management Group raised its position in Park Hotels & Resorts by 436.5% in the second quarter. Schroder Investment Management Group now owns 2,435,831 shares of the financial services provider’s stock valued at $67,132,000 after purchasing an additional 1,981,779 shares during the last quarter. Finally, Brookfield Asset Management Inc. raised its position in Park Hotels & Resorts by 39.8% in the second quarter. Brookfield Asset Management Inc. now owns 6,036,967 shares of the financial services provider’s stock valued at $166,379,000 after purchasing an additional 1,720,152 shares during 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.

See Also: Fundamental Analysis

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Analyst Recommendations for Park Hotels & Resorts (NYSE:PK)

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