Park Hotels & Resorts Inc. (NYSE:PK) is reporting third quarter financial results on Thursday 5th November 2020, after market close.
According to analysts surveyed by Thomson Reuters, PK is expected to report 3Q20 loss of $ 0.91 per share from revenue of $ 122.74 million.
For the full year, analysts anticipate top line of $ 973.49 million, while looking forward to loss of $ 5.73 per share bottom line.
The Company Outlook
Full Year 2020 bottomline are predicted in a range of $ 2.55 ~ $ 2.67 per share
Click Here For More Historical Outlooks Of Park Hotels & Resorts Inc.
Previous Quarter Performance
Park Hotels & Resorts Inc. came out with loss for the second quarter of $ 0.75 per share, from the revenue of $ 42.00 million. The consensus estimates are $ 66.07 million in revenue The top line results fell short of analysts by $ 24.07 million or 36.43 percent.
Stock Performance
Shares of Park Hotels & Resorts Inc. traded low $ -0.31 or -2.87 percent on Wednesday, reaching $ 10.48 with volume of 4.22 million shares. Park Hotels & Resorts Inc. has traded high as $ 10.71 and has cracked $ 10.11 on the downward trend
The closing price of $ 10.48, representing a 170.43 % increase from the 52 week low of $ 3.99 and a 59.41 % decrease over the 52 week high of $ 26.58.
The company has a market capital of $ 2.47 billion and is part of the Real Estate sector and REIT – Hotel & Motel industry.
Recent Analyst recommendations
- On 13th October 2020, upgraded by BMO Capital Markets to Outperform from Market Perform rating, with $ 13.00 target price.
- On 5th October 2020, initiated by Compass Point at Neutral rating, with $ 11.50 target price.
- On 30th September 2020, upgraded by Bank of America to Buy from Underperform rating.
- On 29th September 2020, upgraded by Bank of America to Buy from Underperform rating.
- On 10th September 2020, upgraded by Wells Fargo & Co to Equal-Weight from Underweight rating, with $ 11.00 target price.
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. Parks portfolio consists of 51 premium-branded hotels and resorts with over 30,000 rooms, a substantial portion of which are located in prime United States markets with high barriers to entry.
