Park Hotels & Resorts (PK) Releases FY18 Earnings Guidance

Park Hotels & Resorts (NYSE:PK) updated its FY18 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $2.76-$2.92 for the period, compared to the Thomson Reuters consensus estimate of $2.83.

Park Hotels & Resorts traded up $0.12, reaching $30.56, during midday trading on Friday, MarketBeat reports. The stock had a trading volume of 37,178 shares, compared to its average volume of 2,268,318. The firm has a market cap of $6.11 billion, a PE ratio of 10.85, a P/E/G ratio of 2.17 and a beta of 0.21. Park Hotels & Resorts has a 1-year low of $30.52 and a 1-year high of $30.70. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.35 and a current ratio of 1.35.

Park Hotels & Resorts (NYSE:PK) last released its earnings results on Thursday, May 3rd. The financial services provider reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.08. Park Hotels & Resorts had a return on equity of 6.57% and a net margin of 15.31%. The firm had revenue of $668.00 million during the quarter, compared to the consensus estimate of $646.90 million. During the same period in the prior year, the company posted $0.64 EPS. The company’s revenue was down 2.3% compared to the same quarter last year. equities research analysts predict that Park Hotels & Resorts will post 2.8 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, July 16th. Stockholders of record on Friday, June 29th will be paid a $0.43 dividend. The ex-dividend date of this dividend is Thursday, June 28th. This represents a $1.72 annualized dividend and a dividend yield of 5.63%. Park Hotels & Resorts’s payout ratio is 61.87%.

Several equities research analysts recently commented on the company. JPMorgan Chase restated an overweight rating and set a $28.00 target price (down previously from $30.00) on shares of Park Hotels & Resorts in a research report on Monday, March 5th. Deutsche Bank increased their price objective on Park Hotels & Resorts from $29.00 to $30.00 and gave the stock a hold rating in a research note on Monday, March 19th. Zacks Investment Research downgraded Park Hotels & Resorts from a hold rating to a sell rating in a research report on Friday, March 23rd. Citigroup initiated coverage on Park Hotels & Resorts in a research report on Tuesday, February 27th. They issued a neutral rating and a $27.50 target price for the company. Finally, ValuEngine lowered Park Hotels & Resorts from a buy rating to a hold rating in a report on Wednesday, May 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $37.45.

In other Park Hotels & Resorts news, EVP Matthew Abram Sparks sold 12,877 shares of Park Hotels & Resorts stock in a transaction that occurred on Monday, May 7th. The stock was sold at an average price of $29.87, for a total transaction of $384,635.99. Following the sale, the executive vice president now directly owns 46,931 shares of the company’s stock, valued at approximately $1,401,828.97. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.38% of the stock is owned by insiders.

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 55 premium-branded hotels and resorts with over 32,000 rooms located in prime United States and international markets with high barriers to entry.

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

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