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Jefferies Financial Group Brokers Lift Earnings Estimates for Park Hotels & Resorts Inc. (NYSE:PK)


Park Hotels & Resorts Inc. (NYSE:PKGet Rating) – Equities researchers at Jefferies Financial Group upped their Q2 2022 earnings estimates for shares of Park Hotels & Resorts in a research note issued on Wednesday, July 13th. Jefferies Financial Group analyst D. Katz now expects that the financial services provider will post earnings of $0.42 per share for the quarter, up from their previous estimate of $0.41. Jefferies Financial Group has a “Hold” rating and a $19.00 price objective on the stock. The consensus estimate for Park Hotels & Resorts’ current full-year earnings is $1.48 per share.

Several other equities research analysts have also commented on PK. StockNews.com raised shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a report on Tuesday, May 3rd. Evercore ISI reaffirmed an “in-line” rating and set a $22.50 target price on shares of Park Hotels & Resorts in a report on Monday. Truist Financial raised shares of Park Hotels & Resorts from a “hold” rating to a “buy” rating and upped their target price for the stock from $19.00 to $22.00 in a report on Wednesday, June 1st. Barclays dropped their target price on shares of Park Hotels & Resorts from $22.00 to $18.00 and set an “equal weight” rating for the company in a report on Thursday, July 7th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Park Hotels & Resorts from $26.00 to $28.00 in a report on Tuesday, May 3rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $21.44.

Shares of NYSE PK opened at $13.81 on Thursday. The firm has a market cap of $3.22 billion, a PE ratio of -10.08 and a beta of 1.94. The firm has a fifty day moving average of $16.23 and a 200 day moving average of $17.97. The company has a debt-to-equity ratio of 1.09, a quick ratio of 3.02 and a current ratio of 3.02. Park Hotels & Resorts has a one year low of $12.90 and a one year high of $21.62.

Park Hotels & Resorts (NYSE:PKGet Rating) last posted its earnings results on Monday, May 2nd. The financial services provider reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.21). Park Hotels & Resorts had a negative net margin of 19.45% and a negative return on equity of 7.37%. The firm had revenue of $479.00 million during the quarter, compared to analyst estimates of $420.53 million. During the same quarter in the prior year, the firm earned ($0.48) earnings per share. The business’s revenue for the quarter was up 190.3% on a year-over-year basis.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Thursday, June 30th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Wednesday, June 29th. This represents a $0.04 annualized dividend and a yield of 0.29%. Park Hotels & Resorts’s dividend payout ratio (DPR) is -2.92%.

In related news, Director Thomas D. Eckert purchased 10,000 shares of the company’s stock in a transaction on Tuesday, June 14th. The shares were bought at an average cost of $15.12 per share, for a total transaction of $151,200.00. Following the completion of the purchase, the director now directly owns 96,637 shares of the company’s stock, valued at approximately $1,461,151.44. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.09% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. First Trust Advisors LP lifted its holdings in shares of Park Hotels & Resorts by 1.5% during the first quarter. First Trust Advisors LP now owns 47,964 shares of the financial services provider’s stock worth $937,000 after purchasing an additional 686 shares during the period. State of Michigan Retirement System boosted its position in shares of Park Hotels & Resorts by 1.2% during the 4th quarter. State of Michigan Retirement System now owns 59,965 shares of the financial services provider’s stock worth $1,132,000 after purchasing an additional 700 shares in the last quarter. Rockefeller Capital Management L.P. boosted its position in shares of Park Hotels & Resorts by 166.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,518 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 948 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of Park Hotels & Resorts by 54.9% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,883 shares of the financial services provider’s stock valued at $57,000 after purchasing an additional 1,022 shares during the period. Finally, Louisiana State Employees Retirement System lifted its stake in shares of Park Hotels & Resorts by 1.8% in the first quarter. Louisiana State Employees Retirement System now owns 61,900 shares of the financial services provider’s stock valued at $1,226,000 after purchasing an additional 1,100 shares during the period. Institutional investors and hedge funds own 90.60% of the company’s stock.

Park Hotels & Resorts Company Profile (Get Rating)

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 currently consists of 60 premium-branded hotels and resorts with over 33,000 rooms primarily located in prime city center and resort locations.

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



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