Analysts predict that Park Hotels & Resorts Inc (NYSE:PK) will report earnings per share (EPS) of $0.65 for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Park Hotels & Resorts’ earnings, with estimates ranging from $0.62 to $0.69. Park Hotels & Resorts posted earnings of $0.66 per share in the same quarter last year, which suggests a negative year over year growth rate of 1.5%. The business is expected to announce its next quarterly earnings results on Thursday, November 1st.
On average, analysts expect that Park Hotels & Resorts will report full year earnings of $2.94 per share for the current financial year, with EPS estimates ranging from $2.92 to $2.96. For the next fiscal year, analysts anticipate that the company will report earnings of $3.00 per share, with EPS estimates ranging from $2.92 to $3.13. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Park Hotels & Resorts.
Park Hotels & Resorts (NYSE:PK) last issued its quarterly earnings results on Wednesday, August 1st. The financial services provider reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.11. Park Hotels & Resorts had a return on equity of 8.41% and a net margin of 19.08%. The business had revenue of $731.00 million for the quarter, compared to the consensus estimate of $696.01 million. During the same quarter in the previous year, the company posted $0.81 earnings per share. Park Hotels & Resorts’s revenue for the quarter was down .3% compared to the same quarter last year.
Shares of Park Hotels & Resorts traded up $0.09, reaching $31.53, on Tuesday, MarketBeat reports. 1,680,030 shares of the company’s stock traded hands, compared to its average volume of 1,382,084. Park Hotels & Resorts has a 12-month low of $23.91 and a 12-month high of $33.14. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $6.33 billion, a price-to-earnings ratio of 10.77, a P/E/G ratio of 2.61 and a beta of 0.39.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Friday, September 28th will be paid a $0.43 dividend. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $1.72 dividend on an annualized basis and a yield of 5.46%. Park Hotels & Resorts’s dividend payout ratio (DPR) is currently 61.87%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in PK. Jane Street Group LLC bought a new stake in shares of Park Hotels & Resorts during the 4th quarter worth about $372,000. Xact Kapitalforvaltning AB bought a new stake in shares of Park Hotels & Resorts during the 4th quarter worth about $319,000. Global X Management Co. LLC bought a new stake in shares of Park Hotels & Resorts during the 1st quarter worth about $2,116,000. Fort Washington Investment Advisors Inc. OH bought a new stake in shares of Park Hotels & Resorts during the 1st quarter worth about $316,000. Finally, Wells Fargo & Company MN boosted its stake in shares of Park Hotels & Resorts by 128.8% during the 1st quarter. Wells Fargo & Company MN now owns 1,954,658 shares of the financial services provider’s stock worth $52,815,000 after acquiring an additional 1,100,340 shares in the last quarter.
About Park Hotels & Resorts
Park is a leading lodging REIT with a diverse portfolio of hotels and resorts with significant underlying real estate value. Park's portfolio consists of 55 premium-branded hotels and resorts with over 32,000 rooms located in prime United States and international markets with high barriers to entry.
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