Park Hotels & Resorts Inc. (NYSE:PK) Declares Quarterly Dividend of $0.25

Park Hotels & Resorts Inc. (NYSE:PK) announced a quarterly dividend on Thursday, February 20th, Wall Street Journal reports. Investors of record on Monday, March 31st will be paid a dividend of 0.25 per share by the financial services provider on Tuesday, April 15th. This represents a $1.00 dividend on an annualized basis and a yield of 7.92%. The ex-dividend date of this dividend is Monday, March 31st.

Park Hotels & Resorts has a dividend payout ratio of 111.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Park Hotels & Resorts to earn $2.21 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 45.2%.

Park Hotels & Resorts Stock Down 3.1 %

Shares of Park Hotels & Resorts stock opened at $12.63 on Friday. The business’s 50 day simple moving average is $13.82 and its 200 day simple moving average is $14.31. Park Hotels & Resorts has a 52-week low of $12.52 and a 52-week high of $18.05. The firm has a market cap of $2.61 billion, a PE ratio of 12.51, a P/E/G ratio of 1.51 and a beta of 2.00. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.51 and a current ratio of 1.19.

Park Hotels & Resorts (NYSE:PK) last announced its earnings results on Wednesday, February 19th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.01). The firm had revenue of $625.00 million during the quarter, compared to analyst estimates of $609.05 million. Park Hotels & Resorts had a net margin of 8.16% and a return on equity of 5.63%. On average, analysts predict that Park Hotels & Resorts will post 2.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on PK shares. UBS Group lowered their price target on Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. StockNews.com lowered Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Friday. Compass Point lowered their price target on Park Hotels & Resorts from $25.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Jefferies Financial Group lowered their price target on Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. Finally, Wells Fargo & Company reduced their target price on Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating for the company in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Park Hotels & Resorts presently has a consensus rating of “Hold” and a consensus price target of $18.15.

Park Hotels & Resorts Company Profile

Park Hotels & Resorts, Inc operates as a real estate investment trust, which owns and operates hotels and resorts. It operates through the Consolidated Hotels and Unconsolidated Hotels segments. Its portfolio of hotels and resorts include the Waldorf Astoria Hotels and Resorts, Conrad Hotels & Resorts, Hilton Hotels & Resorts, DoubleTree by Hilton, Embassy Suites by Hilton, Hilton Garden Inn, Hampton by Hilton, and Curio.