Park Hotels & Resorts Inc [NYSE: PK] jumped around 0.76 points on Wednesday, while shares priced at $16.69 at the close of the session, up 4.77%. The company report on February 27, 2024 at 9:29 PM that Park Hotels & Resorts Inc. Reports Fourth Quarter and Full-Year 2023 Results (CORRECTED) and Announces First Quarter Dividend of $0.25 Per Share.
Park Hotels & Resorts Inc. (“Park” or the “Company”) (NYSE: PK) today announced results for the fourth quarter and full year ended December 31, 2023 and provided an operational update.
Compared to the average trading volume of 3.34M shares, PK reached a trading volume of 3634990 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Park Hotels & Resorts Inc [PK]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PK shares is $18.17 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PK stock is a recommendation set at 2.33. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Jefferies have made an estimate for Park Hotels & Resorts Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 02, 2024. While these analysts kept the previous recommendation, JP Morgan raised their target price from $11 to $16. The new note on the price target was released on December 14, 2023, representing the official price target for Park Hotels & Resorts Inc stock. Previously, the target price had yet another raise from $16 to $19, while Barclays kept a Overweight rating on PK stock.
The Average True Range (ATR) for Park Hotels & Resorts Inc is set at 0.45, with the Price to Sales ratio for PK stock in the period of the last 12 months amounting to 1.30. The Price to Book ratio for the last quarter was 0.88, with the Price to Cash per share for the same quarter was set at 3.74. Price to Free Cash Flow for PK in the course of the last twelve months was 17.61.
How has PK stock performed recently?
Park Hotels & Resorts Inc [PK] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.71. With this latest performance, PK shares gained by 5.90% in over the last four-week period, additionally plugging by 43.47% over the last 6 months – not to mention a rise of 30.69% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PK stock in for the last two-week period is set at 65.35, with the RSI for the last a single of trading hit 69.91, and the three-weeks RSI is set at 60.92 for Park Hotels & Resorts Inc [PK]. The present Moving Average for the last 50 days of trading for this stock 15.79, while it was recorded at 16.10 for the last single week of trading, and 13.79 for the last 200 days.
Earnings analysis for Park Hotels & Resorts Inc [PK]
With the latest financial reports released by the company, Park Hotels & Resorts Inc posted 0.15/share EPS, while the average EPS was predicted by analysts to be reported at 0.07/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 114.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PK. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Park Hotels & Resorts Inc go to 8.00%.
Insider trade positions for Park Hotels & Resorts Inc [PK]
The top three institutional holders of PK stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in PK stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in PK stock with ownership which is approximately 5.8325%.
