Zacks: Brokerages Anticipate Park Hotels & Resorts Inc (PK) to Announce $0.69 Earnings Per Share

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Brokerages expect that Park Hotels & Resorts Inc (NYSE:PK) will announce $0.69 earnings per share for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Park Hotels & Resorts’ earnings. The highest EPS estimate is $0.71 and the lowest is $0.66. Park Hotels & Resorts posted earnings per share of $0.68 in the same quarter last year, which would indicate a positive year over year growth rate of 1.5%. The company is expected to report its next earnings report after the market closes on Wednesday, February 27th.

On average, analysts expect that Park Hotels & Resorts will report full year earnings of $2.91 per share for the current fiscal year, with EPS estimates ranging from $2.89 to $2.93. For the next fiscal year, analysts anticipate that the company will post earnings of $3.00 per share, with EPS estimates ranging from $2.94 to $3.05. Zacks’ EPS averages are an average based on a survey of research firms that that provide coverage for Park Hotels & Resorts.

Several equities research analysts have recently weighed in on the company. Deutsche Bank set a $32.00 price target on Park Hotels & Resorts and gave the stock a “hold” rating in a report on Saturday, November 3rd. TheStreet upgraded Park Hotels & Resorts from a “c” rating to a “b-” rating in a report on Wednesday, December 12th. Nomura increased their price target on Park Hotels & Resorts from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, November 2nd. Wells Fargo & Co reduced their price target on Park Hotels & Resorts from $32.00 to $29.00 and set a “market perform” rating on the stock in a report on Friday, November 16th. Finally, Zacks Investment Research upgraded Park Hotels & Resorts from a “sell” rating to a “hold” rating in a report on Tuesday, November 20th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $31.28.

Shares of NYSE PK opened at $29.48 on Friday. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.51. Park Hotels & Resorts has a fifty-two week low of $23.91 and a fifty-two week high of $34.27. The company has a market capitalization of $5.93 billion, a PE ratio of 10.60, a price-to-earnings-growth ratio of 2.10 and a beta of 1.29.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 15th. Shareholders of record on Monday, December 31st were issued a dividend of $1.00 per share. This is an increase from Park Hotels & Resorts’s previous quarterly dividend of $0.43. This represents a $4.00 annualized dividend and a yield of 13.57%. The ex-dividend date of this dividend was Friday, December 28th. Park Hotels & Resorts’s dividend payout ratio (DPR) is presently 143.88%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PK. Rehmann Capital Advisory Group increased its holdings in Park Hotels & Resorts by 110.2% during the 3rd quarter. Rehmann Capital Advisory Group now owns 807 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 423 shares during the period. Enlightenment Research LLC purchased a new position in Park Hotels & Resorts during the 4th quarter worth $81,000. Robecosam AG increased its holdings in Park Hotels & Resorts by 28.6% during the 4th quarter. Robecosam AG now owns 4,500 shares of the financial services provider’s stock worth $116,000 after purchasing an additional 1,000 shares during the period. PNC Financial Services Group Inc. increased its holdings in Park Hotels & Resorts by 62.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,613 shares of the financial services provider’s stock worth $146,000 after purchasing an additional 2,163 shares during the period. Finally, First Mercantile Trust Co. purchased a new position in Park Hotels & Resorts during the 4th quarter worth $199,000.

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 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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