Park Hotels & Resorts Inc Forecasted to Post Q4 2018 Earnings of $0.64 Per Share (PK)

Share on StockTwits

Park Hotels & Resorts Inc (NYSE:PK) – Equities researchers at Jefferies Financial Group decreased their Q4 2018 earnings per share estimates for shares of Park Hotels & Resorts in a research note issued to investors on Monday, November 5th. Jefferies Financial Group analyst D. Katz now expects that the financial services provider will post earnings of $0.64 per share for the quarter, down from their previous estimate of $0.68. Jefferies Financial Group has a “Buy” rating and a $38.00 price objective on the stock.

A number of other brokerages have also recently commented on PK. SunTrust Banks reissued a “buy” rating on shares of Park Hotels & Resorts in a research note on Friday, August 3rd. Nomura raised their price target on shares of Park Hotels & Resorts from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Friday, November 2nd. Deutsche Bank set a $32.00 price target on shares of Park Hotels & Resorts and gave the stock a “hold” rating in a research note on Saturday. Barclays reaffirmed a “buy” rating on shares of Park Hotels & Resorts in a research note on Friday, August 3rd. Finally, Evercore ISI cut shares of Park Hotels & Resorts from an “outperform” rating to an “in-line” rating in a research note on Monday, August 20th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. Park Hotels & Resorts presently has a consensus rating of “Hold” and a consensus target price of $32.06.

Shares of NYSE PK opened at $29.65 on Wednesday. The stock has a market capitalization of $5.92 billion, a P/E ratio of 10.67, a price-to-earnings-growth ratio of 2.17 and a beta of 0.97. Park Hotels & Resorts has a 52 week low of $23.91 and a 52 week high of $34.27. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 1.79.

Park Hotels & Resorts (NYSE:PK) last issued its quarterly earnings data on Thursday, November 1st. The financial services provider reported $0.26 EPS for the quarter, missing the Zacks’ consensus estimate of $0.64 by ($0.38). The business had revenue of $652.00 million during the quarter, compared to analyst estimates of $656.61 million. Park Hotels & Resorts had a net margin of 17.46% and a return on equity of 8.24%. Park Hotels & Resorts’s revenue was down 5.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.66 earnings per share.

Institutional investors have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. boosted its stake in shares of Park Hotels & Resorts by 94.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 5,371 shares of the financial services provider’s stock worth $165,000 after purchasing an additional 2,611 shares during the last quarter. Abacus Planning Group Inc. acquired a new stake in shares of Park Hotels & Resorts in the third quarter worth approximately $208,000. First Republic Investment Management Inc. acquired a new stake in shares of Park Hotels & Resorts in the second quarter worth approximately $213,000. Hollencrest Capital Management acquired a new stake in shares of Park Hotels & Resorts in the second quarter worth approximately $221,000. Finally, Raymond James Trust N.A. acquired a new stake in shares of Park Hotels & Resorts in the second quarter worth approximately $248,000.

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.

Further Reading: How Do Tariffs Affect Trade Balances?

Earnings History and Estimates for Park Hotels & Resorts (NYSE:PK)

Receive News & Ratings for Park Hotels & Resorts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Park Hotels & Resorts and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply