Equities analysts expect Park Hotels & Resorts Inc (NYSE:PK) to announce sales of $720.88 million for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Park Hotels & Resorts’ earnings, with the highest sales estimate coming in at $731.00 million and the lowest estimate coming in at $709.50 million. Park Hotels & Resorts reported sales of $731.00 million during the same quarter last year, which suggests a negative year over year growth rate of 1.4%. The company is expected to issue its next earnings results on Wednesday, August 7th.

According to Zacks, analysts expect that Park Hotels & Resorts will report full-year sales of $2.73 billion for the current financial year, with estimates ranging from $2.70 billion to $2.75 billion. For the next financial year, analysts anticipate that the business will post sales of $2.73 billion, with estimates ranging from $2.67 billion to $2.79 billion. Zacks’ sales calculations are an average based on a survey of research firms that follow Park Hotels & Resorts.

Park Hotels & Resorts (NYSE:PK) last issued its quarterly earnings data on Monday, May 6th. The financial services provider reported $0.67 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.01. Park Hotels & Resorts had a return on equity of 7.38% and a net margin of 15.32%. The business had revenue of $659.00 million for the quarter, compared to the consensus estimate of $655.79 million. During the same period last year, the business earned $0.65 EPS. The firm’s revenue was down 1.3% compared to the same quarter last year.

A number of research analysts recently weighed in on PK shares. TheStreet raised Park Hotels & Resorts from a “c” rating to a “b-” rating in a research note on Friday, February 22nd. Barclays reissued a “buy” rating and issued a $35.00 price objective on shares of Park Hotels & Resorts in a research note on Sunday, March 3rd. Zacks Investment Research raised Park Hotels & Resorts from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a research note on Wednesday, March 6th. Deutsche Bank set a $34.00 price objective on Park Hotels & Resorts and gave the company a “hold” rating in a research note on Friday, March 1st. Finally, Nomura raised their price objective on Park Hotels & Resorts from $32.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, February 28th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $33.00.

Shares of PK stock traded down $0.60 during trading on Friday, reaching $30.26. The company had a trading volume of 1,596,354 shares, compared to its average volume of 1,666,146. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.43 and a current ratio of 1.43. Park Hotels & Resorts has a one year low of $25.30 and a one year high of $34.27. The company has a market capitalization of $6.22 billion, a price-to-earnings ratio of 10.22, a PEG ratio of 2.66 and a beta of 1.27.

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 5.95%. The ex-dividend date is Thursday, June 27th. Park Hotels & Resorts’s dividend payout ratio is currently 60.81%.

Hedge funds and other institutional investors have recently modified their holdings of the business. Comerica Bank increased its position in Park Hotels & Resorts by 15.6% in the 4th quarter. Comerica Bank now owns 9,177 shares of the financial services provider’s stock worth $269,000 after buying an additional 1,236 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Park Hotels & Resorts by 32.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 184,104 shares of the financial services provider’s stock valued at $4,783,000 after purchasing an additional 45,050 shares during the period. Vanguard Group Inc increased its position in shares of Park Hotels & Resorts by 3.8% during the third quarter. Vanguard Group Inc now owns 30,594,200 shares of the financial services provider’s stock valued at $1,004,101,000 after purchasing an additional 1,107,521 shares during the period. Two Sigma Advisers LP increased its position in shares of Park Hotels & Resorts by 16.5% during the fourth quarter. Two Sigma Advisers LP now owns 569,900 shares of the financial services provider’s stock valued at $14,806,000 after purchasing an additional 80,800 shares during the period. Finally, Sumitomo Mitsui Asset Management Company LTD increased its position in shares of Park Hotels & Resorts by 8.7% during the fourth quarter. Sumitomo Mitsui Asset Management Company LTD now owns 224,114 shares of the financial services provider’s stock valued at $5,822,000 after purchasing an additional 18,025 shares during the period.

Park Hotels & Resorts Company Profile

Park is the second largest publicly traded lodging REIT with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio consists of 52 premium-branded hotels and resorts with over 30,000 rooms, a substantial portion of which are located in prime United States markets with high barriers to entry.

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

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