Park Hotels & Resorts (NYSE:PK) Announces Earnings Results, Misses Estimates By $0.21 EPS

Park Hotels & Resorts (NYSE:PK) posted its quarterly earnings data on Tuesday. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.21), Zacks reports. Park Hotels & Resorts had a return on equity of 9.63% and a net margin of 12.66%. The firm had revenue of $649.00 million during the quarter, compared to analyst estimates of $646.15 million. During the same quarter in the previous year, the firm posted $0.51 earnings per share. The company’s quarterly revenue was down 4.4% on a year-over-year basis.

Park Hotels & Resorts Trading Up 0.1 %

Park Hotels & Resorts stock traded up $0.01 during trading on Friday, hitting $13.90. The company had a trading volume of 1,031,403 shares, compared to its average volume of 2,733,313. The company has a current ratio of 1.51, a quick ratio of 1.58 and a debt-to-equity ratio of 1.24. The company’s 50 day simple moving average is $14.40 and its 200-day simple moving average is $14.94. Park Hotels & Resorts has a 1-year low of $12.09 and a 1-year high of $18.05. The stock has a market cap of $2.90 billion, a price-to-earnings ratio of 8.89, a price-to-earnings-growth ratio of 0.73 and a beta of 2.02.

Analysts Set New Price Targets

PK has been the topic of several research reports. UBS Group decreased their price target on shares of Park Hotels & Resorts from $18.00 to $14.00 and set a “neutral” rating on the stock in a research note on Friday, August 16th. StockNews.com upgraded Park Hotels & Resorts from a “sell” rating to a “hold” rating in a report on Wednesday. Bank of America cut their price target on Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating for the company in a report on Monday, October 21st. Wells Fargo & Company lowered their price objective on Park Hotels & Resorts from $17.00 to $14.50 and set an “equal weight” rating on the stock in a research note on Friday, September 13th. Finally, Wolfe Research downgraded Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 26th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $17.58.

Park Hotels & Resorts Company Profile

Park is one of the largest publicly traded lodging REITs with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio currently consists of 43 premium-branded hotels and resorts with over 26,000 rooms primarily located in prime city center and resort locations.