Wall Street analysts forecast that Park Hotels & Resorts (PK) will report quarterly earnings of $0.46 per share in its upcoming release, pointing to a year-over-year increase of 18%. It is anticipated that revenues will amount to $613.9 million, exhibiting a decrease of 1.8% compared to the year-ago quarter.
The current level reflects a downward revision of 9.1% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
Given this perspective, it's time to examine the average forecasts of specific Park Hotels & Resorts metrics that are routinely monitored and predicted by Wall Street analysts.
The collective assessment of analysts points to an estimated 'Revenues- Rooms' of $370.30 million. The estimate indicates a year-over-year change of -1.5%.
Based on the collective assessment of analysts, 'Revenues- Ancillary hotel' should arrive at $60.60 million. The estimate suggests a change of +1% year over year.
According to the collective judgment of analysts, 'Revenues- Food and beverage' should come in at $164.58 million. The estimate points to a change of -1.5% from the year-ago quarter.
The combined assessment of analysts suggests that 'Revenues- Other' will likely reach $24.22 million. The estimate indicates a change of +10.1% from the prior-year quarter.
The consensus estimate for 'Total Number of rooms' stands at 21,850 . The estimate is in contrast to the year-ago figure of 22,711 .
Analysts forecast 'Depreciation and amortization' to reach $64.96 million.
View all Key Company Metrics for Park Hotels & Resorts here>>>
Park Hotels & Resorts shares have witnessed a change of -1.9% in the past month, in contrast to the Zacks S&P 500 composite's -1.4% move. With a Zacks Rank #5 (Strong Sell), PK is expected underperform the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Park Hotels & Resorts Inc. (PK): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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