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

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

Park Hotels & Resorts Stock Performance

PK stock traded up $0.09 during trading on Friday, reaching $13.98. The stock had a trading volume of 1,168,786 shares, compared to its average volume of 2,733,961. The stock’s 50 day moving average is $14.40 and its two-hundred day moving average is $14.94. Park Hotels & Resorts has a 52 week low of $12.09 and a 52 week high of $18.05. 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 firm has a market cap of $2.92 billion, a PE ratio of 8.89, a PEG ratio of 0.73 and a beta of 2.02.

Analyst Upgrades and Downgrades

PK has been the topic of several research analyst reports. Wolfe Research cut shares of Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a research report on Thursday, September 26th. UBS Group dropped their price objective on shares of Park Hotels & Resorts from $18.00 to $14.00 and set a “neutral” rating for the company in a report on Friday, August 16th. StockNews.com upgraded Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research report on Wednesday. Wells Fargo & Company cut their price objective on Park Hotels & Resorts from $17.00 to $14.50 and set an “equal weight” rating for the company in a report on Friday, September 13th. Finally, Compass Point reduced their price objective on Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently 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.