Park Hotels & Resorts (PK) Price Target Increased to $32.00 by Analysts at Nomura

Park Hotels & Resorts (NYSE:PK) had its price target lifted by Nomura from $30.00 to $32.00 in a report released on Friday. Nomura currently has a buy rating on the financial services provider’s stock.

PK has been the subject of several other research reports. Zacks Investment Research downgraded Park Hotels & Resorts from a strong-buy rating to a hold rating in a report on Wednesday, July 11th. Evercore ISI downgraded Park Hotels & Resorts from an outperform rating to an in-line rating in a report on Monday, August 20th. Barclays reissued a buy rating on shares of Park Hotels & Resorts in a report on Friday, August 3rd. Jefferies Financial Group set a $38.00 price target on Park Hotels & Resorts and gave the stock a buy rating in a report on Friday, August 3rd. Finally, SunTrust Banks reissued a buy rating on shares of Park Hotels & Resorts in a report on Friday, August 3rd. Two 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 has a consensus rating of Hold and an average price target of $31.81.

NYSE PK traded down $0.25 during trading on Friday, hitting $29.42. The company’s stock had a trading volume of 2,900,365 shares, compared to its average volume of 2,204,886. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 1.79. The company has a market cap of $5.92 billion, a PE ratio of 10.11, a P/E/G ratio of 2.17 and a beta of 0.97. Park Hotels & Resorts has a fifty-two week low of $23.91 and a fifty-two week high of $34.27.

Park Hotels & Resorts (NYSE:PK) last issued its quarterly earnings results on Thursday, November 1st. The financial services provider reported $0.26 earnings per share for the quarter, missing the 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 return on equity of 8.24% and a net margin of 17.46%. Park Hotels & Resorts’s revenue was down 5.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.66 EPS. On average, sell-side analysts predict that Park Hotels & Resorts will post 2.86 earnings per share for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its holdings in shares of Park Hotels & Resorts by 17.1% during the second quarter. BlackRock Inc. now owns 16,256,506 shares of the financial services provider’s stock worth $497,938,000 after purchasing an additional 2,368,733 shares during the period. Centersquare Investment Management LLC lifted its holdings in shares of Park Hotels & Resorts by 13.1% during the second quarter. Centersquare Investment Management LLC now owns 4,805,270 shares of the financial services provider’s stock worth $147,186,000 after purchasing an additional 557,812 shares during the period. Daiwa Securities Group Inc. lifted its holdings in shares of Park Hotels & Resorts by 3.8% during the third quarter. Daiwa Securities Group Inc. now owns 4,350,835 shares of the financial services provider’s stock worth $142,795,000 after purchasing an additional 158,192 shares during the period. Northern Trust Corp lifted its holdings in shares of Park Hotels & Resorts by 35.9% during the second quarter. Northern Trust Corp now owns 3,276,256 shares of the financial services provider’s stock worth $100,352,000 after purchasing an additional 866,219 shares during the period. Finally, PGGM Investments acquired a new stake in shares of Park Hotels & Resorts during the second quarter worth about $86,176,000.

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.

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

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