Park Hotels & Resorts (PK) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Park Hotels & Resorts (NYSE:PK) from a hold rating to a sell rating in a report released on Saturday.

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. “

Several other brokerages have also issued reports on PK. Boenning Scattergood reiterated a buy rating on shares of Park Hotels & Resorts in a research report on Monday, November 6th. Nomura lifted their target price on shares of Park Hotels & Resorts from $32.00 to $33.00 and gave the company a buy rating in a research report on Monday, November 6th. Evercore ISI upgraded shares of Park Hotels & Resorts from an in-line rating to an outperform rating in a research report on Monday, December 4th. Finally, SunTrust Banks upgraded shares of Park Hotels & Resorts from a hold rating to a buy rating in a research report on Thursday, December 21st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $34.87.

Park Hotels & Resorts (PK) opened at $28.85 on Friday. The company has a market cap of $6,200.00 and a P/E ratio of 2.40. Park Hotels & Resorts has a 12 month low of $24.65 and a 12 month high of $31.46. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.26 and a current ratio of 1.26.

Park Hotels & Resorts (NYSE:PK) last issued its quarterly earnings data on Thursday, November 2nd. The financial services provider reported $0.66 EPS for the quarter, beating the consensus estimate of $0.65 by $0.01. The company had revenue of $688.00 million during the quarter, compared to analysts’ expectations of $676.76 million. Park Hotels & Resorts had a net margin of 93.04% and a return on equity of 46.66%. Park Hotels & Resorts’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.66 earnings per share. equities analysts forecast that Park Hotels & Resorts will post 2.73 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th will be given a dividend of $0.55 per share. The ex-dividend date is Thursday, December 28th. This is a positive change from Park Hotels & Resorts’s previous quarterly dividend of $0.43. This represents a $2.20 annualized dividend and a yield of 7.63%. Park Hotels & Resorts’s payout ratio is presently 18.32%.

Several institutional investors and hedge funds have recently made changes to their positions in PK. Cbre Clarion Securities LLC lifted its holdings in shares of Park Hotels & Resorts by 883.4% in the 2nd quarter. Cbre Clarion Securities LLC now owns 6,037,093 shares of the financial services provider’s stock worth $162,760,000 after acquiring an additional 5,423,181 shares during the last quarter. Southeastern Asset Management Inc. TN bought a new stake in shares of Park Hotels & Resorts in the 2nd quarter worth approximately $110,520,000. BlackRock Inc. lifted its holdings in shares of Park Hotels & Resorts by 57.5% in the 2nd quarter. BlackRock Inc. now owns 9,743,370 shares of the financial services provider’s stock worth $262,679,000 after acquiring an additional 3,558,810 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Park Hotels & Resorts by 15.1% in the 2nd quarter. Vanguard Group Inc. now owns 22,577,650 shares of the financial services provider’s stock worth $608,693,000 after acquiring an additional 2,963,035 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of Park Hotels & Resorts by 137.0% in the 2nd quarter. State Street Corp now owns 3,664,272 shares of the financial services provider’s stock worth $98,791,000 after acquiring an additional 2,118,313 shares during the last quarter. Hedge funds and other institutional investors own 99.13% of the company’s stock.

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About Park Hotels & Resorts

Park Hotels & Resorts Inc is a lodging real estate company. The Company has a portfolio of hotels and resorts. The Company operates through ownership segment, which includes all of its hotel properties. As of December 31, 2016, the Company’s portfolio consisted of 67 hotels and resorts with over 35,000 rooms located in the United States and international markets.

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