Park Hotels & Resorts (NYSE:PK) Sets New 52-Week Low – Time to Sell?

Park Hotels & Resorts Inc. (NYSE:PK) shares hit a new 52-week low on Friday . The company traded as low as $13.22 and last traded at $13.40, with a volume of 218038 shares changing hands. The stock had previously closed at $13.55.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Bank of America reduced their price target on Park Hotels & Resorts from $17.00 to $16.50 and set a “neutral” rating for the company in a research report on Monday, October 21st. Wells Fargo & Company upped their price target on Park Hotels & Resorts from $16.00 to $17.00 and gave the company an “equal weight” rating in a report on Monday, December 9th. Jefferies Financial Group dropped their target price on Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Wolfe Research lowered shares of Park Hotels & Resorts from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 26th. Finally, UBS Group increased their target price on Park Hotels & Resorts from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Park Hotels & Resorts currently has an average rating of “Hold” and an average target price of $18.65.

Park Hotels & Resorts Stock Performance

The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 1.24. The stock has a market cap of $2.83 billion, a P/E ratio of 8.72, a price-to-earnings-growth ratio of 6.90 and a beta of 2.02. The stock has a 50 day simple moving average of $14.85 and a 200 day simple moving average of $14.60.

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.21). The business had revenue of $649.00 million during the quarter, compared to analyst estimates of $646.15 million. Park Hotels & Resorts had a net margin of 12.66% and a return on equity of 9.63%. The business’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same period last year, the business earned $0.51 earnings per share. On average, equities analysts expect that Park Hotels & Resorts Inc. will post 1.96 earnings per share for the current year.

Park Hotels & Resorts Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.65 dividend. This is a boost from Park Hotels & Resorts’s previous quarterly dividend of $0.25. This represents a $2.60 dividend on an annualized basis and a dividend yield of 18.99%. The ex-dividend date of this dividend is Tuesday, December 31st. Park Hotels & Resorts’s dividend payout ratio (DPR) is currently 63.69%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Harbor Capital Advisors Inc. purchased a new position in Park Hotels & Resorts during the 3rd quarter valued at about $33,000. Venturi Wealth Management LLC grew its stake in shares of Park Hotels & Resorts by 281.6% during the third quarter. Venturi Wealth Management LLC now owns 3,850 shares of the financial services provider’s stock valued at $54,000 after buying an additional 2,841 shares during the last quarter. Quarry LP grew its position in Park Hotels & Resorts by 82.1% during the 2nd quarter. Quarry LP now owns 4,118 shares of the financial services provider’s stock worth $62,000 after acquiring an additional 1,857 shares during the last quarter. Claro Advisors LLC bought a new position in shares of Park Hotels & Resorts in the third quarter worth approximately $69,000. Finally, Covestor Ltd boosted its holdings in shares of Park Hotels & Resorts by 64.8% during the third quarter. Covestor Ltd now owns 6,894 shares of the financial services provider’s stock worth $97,000 after purchasing an additional 2,711 shares during the period. Institutional investors own 92.69% of the company’s stock.

About Park Hotels & Resorts

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.