Park Hotels & Resorts Inc. (NYSE:PK) Expected to Announce Earnings of -$0.55 Per Share

Wall Street brokerages expect Park Hotels & Resorts Inc. (NYSE:PK) to post earnings per share of ($0.55) for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for Park Hotels & Resorts’ earnings, with the lowest EPS estimate coming in at ($0.66) and the highest estimate coming in at ($0.40). Park Hotels & Resorts posted earnings per share of $0.72 in the same quarter last year, which would suggest a negative year over year growth rate of 176.4%. The company is scheduled to report its next quarterly earnings report on Wednesday, February 24th.

According to Zacks, analysts expect that Park Hotels & Resorts will report full year earnings of ($1.69) per share for the current financial year, with EPS estimates ranging from ($1.79) to ($1.54). For the next year, analysts anticipate that the firm will report earnings of ($0.69) per share, with EPS estimates ranging from ($1.43) to ($0.29). Zacks’ EPS calculations are an average based on a survey of research firms that that provide coverage for Park Hotels & Resorts.

Park Hotels & Resorts (NYSE:PK) last announced its earnings results on Thursday, November 5th. The financial services provider reported ($1.17) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.52) by ($0.65). The company had revenue of $98.00 million for the quarter, compared to analyst estimates of $122.54 million. Park Hotels & Resorts had a negative return on equity of 13.76% and a negative net margin of 38.58%. The firm’s quarterly revenue was down 85.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.68 earnings per share.

PK has been the topic of several recent research reports. BMO Capital Markets raised Park Hotels & Resorts from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $9.00 to $13.00 in a report on Tuesday, October 13th. Jefferies Financial Group raised Park Hotels & Resorts from a “hold” rating to a “buy” rating and boosted their price objective for the company from $11.00 to $22.00 in a research note on Monday, November 23rd. Citigroup boosted their price objective on Park Hotels & Resorts from $6.50 to $9.25 and gave the company a “sell” rating in a research note on Monday, September 21st. Bank of America raised Park Hotels & Resorts from an “underperform” rating to a “buy” rating and set a $13.00 price objective on the stock in a research note on Tuesday, September 29th. Finally, ValuEngine raised Park Hotels & Resorts from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 1st. Four analysts have rated the stock with a sell rating, eight have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $12.90.

Institutional investors and hedge funds have recently bought and sold shares of the business. Van ECK Associates Corp lifted its holdings in Park Hotels & Resorts by 21.2% in the third quarter. Van ECK Associates Corp now owns 7,130 shares of the financial services provider’s stock worth $71,000 after buying an additional 1,248 shares during the period. Schonfeld Strategic Advisors LLC lifted its position in shares of Park Hotels & Resorts by 55.1% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 47,900 shares of the financial services provider’s stock worth $479,000 after buying an additional 17,010 shares during the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of Park Hotels & Resorts by 1.1% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 334,712 shares of the financial services provider’s stock worth $3,344,000 after buying an additional 3,801 shares during the last quarter. Paloma Partners Management Co lifted its position in shares of Park Hotels & Resorts by 31.5% during the 3rd quarter. Paloma Partners Management Co now owns 276,822 shares of the financial services provider’s stock worth $2,765,000 after buying an additional 66,324 shares during the last quarter. Finally, California State Teachers Retirement System raised its position in Park Hotels & Resorts by 0.8% in the 3rd quarter. California State Teachers Retirement System now owns 421,055 shares of the financial services provider’s stock valued at $4,206,000 after purchasing an additional 3,523 shares during the last quarter. 79.27% of the stock is currently owned by hedge funds and other institutional investors.

PK traded up $0.11 during midday trading on Friday, hitting $17.85. 102,414 shares of the company were exchanged, compared to its average volume of 3,398,655. The firm has a market capitalization of $4.21 billion, a P/E ratio of -5.11 and a beta of 1.84. Park Hotels & Resorts has a 1-year low of $3.99 and a 1-year high of $25.03. The firm’s 50 day moving average price is $17.23 and its 200-day moving average price is $11.99. The company has a quick ratio of 7.04, a current ratio of 7.04 and a debt-to-equity ratio of 0.96.

About Park Hotels & Resorts

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 currently consists of 60 premium-branded hotels and resorts with over 33,000 rooms primarily located in prime city center and resort locations.

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

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