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Park Hotels & Resorts Inc . (NYSE:PK) stock has reached a new 52-week low, touching down at $10.86. This latest price level reflects a significant downturn for the hospitality company, which has seen its stock value decrease by 37.68% over the past year. Investors are closely monitoring the stock as the company navigates through the challenges posed by fluctuating travel demand and operational costs, which have been exacerbated by the ongoing economic pressures. The 52-week low serves as a critical marker for Park Hotels & Resorts, as stakeholders consider the company’s strategies for recovery and growth in a post-pandemic market.
In other recent news, Park Hotels & Resorts reported a strong performance in the fourth quarter of 2024, with earnings per share reaching $0.32, significantly surpassing the forecasted $0.07. The company also exceeded revenue expectations by posting $625 million, compared to the anticipated $610.3 million. Despite this, Citi analysts revised their valuation of Park Hotels & Resorts, lowering the price target from $18.00 to $16.00, though they maintained a Buy rating on the stock. The revision was influenced by updated projections for key financial metrics, including a decrease in expected 2025 EBITDA to $645 million from $666 million. However, the first quarter of 2025 operating Funds From Operations (FFO) is now estimated at $0.45, an increase from the previous estimate of $0.41. For the full year of 2025, the operating FFO projection has been slightly adjusted to $2.10 from $2.09. Park Hotels & Resorts is also undertaking significant renovations, including a $100 million project at the Royal Palm Resort in Miami. The company has set a target for $300-$400 million in non-core asset sales in 2025, reflecting its strategic focus on reshaping its portfolio and enhancing long-term growth.
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