Is Park Hotels & Resorts Inc. (NYSE:PK) Stock Ready for a Higher Run in its Share Price? – Marketing Sentinel
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Is Park Hotels & Resorts Inc. (NYSE:PK) Stock Ready for a Higher Run in its Share Price?

In the last trading session, 2,306,928 Park Hotels & Resorts Inc. (NYSE:PK) shares changed hands as the company’s beta touched 2.28. With the company’s per share price at $22.35 changed hands at $0.86 or 0.04% during last session, the market valuation stood at $5.28 Billion. PK’s last price was a discount, traded about -10.38% off its 52-week high of $24.67. The share price had its 52-week low at $6.53, which suggests the last value was 70.78% up since then. When we look at Park Hotels & Resorts Inc.’s average trading volume, we note the 10-day average is 2.44 Million shares, with the 3-month average coming to 3.84 Million.

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Analysts gave the Park Hotels & Resorts Inc. (PK) stock a consensus recommendation rating of Hold, calculated at a mean rating of 2.6. If we narrow down to specifics, the data shows that 2 out of 16 analysts rate the stock as a Sell, with a further none assigning it an Overweight rating. Of the remaining, 9 recommended PK as a Hold, 5 felt it is a Buy and none rated the stock as Underweight. Park Hotels & Resorts Inc.’s EPS for the current quarter is expected to be -$0.85.

Park Hotels & Resorts Inc. (NYSE:PK) trade information

Instantly PK was in green as seen at the end of in last trading. With action 4%, the performance over the past five days has been green. The jump to weekly highs of $23.10 on Monday, May 03 added 3.25% to the stock’s daily price. The company’s shares are showing year-to-date upside of 0.3%, with the 5-day performance at 0% in the green. However, in the 30-day time frame, Park Hotels & Resorts Inc. (NYSE:PK) is 0.02% up. Looking at the short shares, we see there were 10.91 Million shares sold at short interest cover period of 2.84 days.

The consensus price target for the stock as assigned by Wall Street analysts is $22.14, meaning bulls need a downside of -0.94% from its current market value. According to analyst projections, PK’s forecast low is $15 with $28 as the target high. To hit the forecast high, the stock’s price needs a +25.28% upsurge from its current level, while the stock would need to tank -32.89% for it to hit the projected low.

Park Hotels & Resorts Inc. (PK) estimates and forecasts

Data shows that the Park Hotels & Resorts Inc. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot +113.26% over the past 6 months, a 29.09% in annual growth rate that is considerably higher than the industry average of 5%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2021 revenue estimates. The rating firms predict current quarter revenue for Park Hotels & Resorts Inc. will rise +70.6%, while the growth in revenue is estimated to hit 39.1% for the next quarter. Year-over-year growth is forecast to reach 48.9% up from the last financial year.

Consensus estimates given by 8 financial analysts project the company’s revenue in the current quarter to hit an average of $141.7 Million. 8 analysts are of the opinion that Park Hotels & Resorts Inc.’s revenue for the quarter ending June 01, 2021 will be $243.35 Million. The company’s revenue for the corresponding quarters a year ago was $599Million and $42Million respectively. According to analysts, the company will likely register a drop in its current quarter sales, forecast at -76.3%. The estimates for the next quarter sales put growth at 479.4%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -43.7%. The 2021 estimates are for Park Hotels & Resorts Inc. earnings to decrease by -524.7%, but the outlook for the next 5-year period is at 0% per year.

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PK Dividends

Park Hotels & Resorts Inc. is expected to release its next quarterly earnings report around August 03 – August 09, 2021. The 20.25% annual yield figure for the share gives it an annual dividend of 1.8. It is important to note, however, that the 20.25% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.

Park Hotels & Resorts Inc. (NYSE:PK)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 1.1% of Park Hotels & Resorts Inc. shares while 99.99% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 101.1%. There are 421 institutions holding the Park Hotels & Resorts Inc. stock share, with Vanguard Group Inc. (The) the top institutional holder. As of Dec 30, 2020, the company held 13.91% of the shares, roughly 32.88 Million PK shares worth $563.93 Million.

Blackrock Inc. holds the second largest percentage of outstanding shares, with 11.47% or 27.11 Million shares worth $464.88 Million as of Dec 30, 2020.

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Among Mutual Funds, the top two as of Jan 30, 2021 were Vanguard Specialized-Real Estate Index Fund and Vanguard Total Stock Market Index Fund. With 10527102 shares estimated at $175.59 Million under it, the former controlled 4.45% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 2.85% of the shares, roughly 6.73 Million shares worth around $115.43 Million.

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