Park Hotels & Resorts (NYSE:PK) Posts Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Park Hotels & Resorts (NYSE:PK) issued its quarterly earnings data on Wednesday. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.01), Zacks reports. Park Hotels & Resorts had a return on equity of 9.63% and a net margin of 12.66%.

Park Hotels & Resorts Stock Performance

NYSE:PK traded down $0.04 during mid-day trading on Wednesday, hitting $13.12. The stock had a trading volume of 4,250,806 shares, compared to its average volume of 3,366,508. Park Hotels & Resorts has a twelve month low of $12.56 and a twelve month high of $18.05. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.51 and a current ratio of 1.51. The stock has a market cap of $2.71 billion, a price-to-earnings ratio of 8.35 and a beta of 2.00. The company’s 50 day simple moving average is $13.96 and its 200 day simple moving average is $14.34.

Park Hotels & Resorts Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.65 per share. The ex-dividend date was Tuesday, December 31st. This is a positive change from Park Hotels & Resorts’s previous quarterly dividend of $0.25. This represents a $2.60 annualized dividend and a dividend yield of 19.82%. Park Hotels & Resorts’s payout ratio is currently 63.69%.

Wall Street Analysts Forecast Growth

PK has been the subject of a number of research reports. StockNews.com upgraded Park Hotels & Resorts from a “sell” rating to a “hold” rating in a report on Thursday, February 13th. Compass Point dropped their target price on Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. UBS Group cut their target price on Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. Jefferies Financial Group decreased their price target on shares of Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Finally, Wells Fargo & Company cut their price objective on shares of Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $18.15.

About Park Hotels & Resorts

Park Hotels & Resorts, Inc operates as a real estate investment trust, which owns and operates hotels and resorts. It operates through the Consolidated Hotels and Unconsolidated Hotels segments. Its portfolio of hotels and resorts include the Waldorf Astoria Hotels and Resorts, Conrad Hotels & Resorts, Hilton Hotels & Resorts, DoubleTree by Hilton, Embassy Suites by Hilton, Hilton Garden Inn, Hampton by Hilton, and Curio.