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Park Hotels & Resorts (PK) Stock Jumps 5.9%: Will It Continue to Soar?
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Park Hotels & Resorts (PK - Free Report) shares rallied 5.9% in the last trading session to close at $13.86. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 32% loss over the past four weeks.
This increased optimism reflects the recovering fundamentals of the overall lodging industry.
This company is expected to post quarterly funds from operations (FFO) of $0.49 per share in its upcoming report, which represents a year-over-year change of +406.3%. Revenues are expected to be $650.67 million, up 101.5% from the year-ago quarter.
While FFO and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in FFO estimate revisions and near-term stock price movements.
For Park Hotels & Resorts, the consensus FFO per share estimate for the quarter has been revised 1.7% higher over the last 30 days to the current level. And a positive trend in FFO estimate revision usually translates into price appreciation. So, make sure to keep an eye on PK going forward to see if this recent jump can turn into more strength down the road.
Park Hotels & Resorts belongs to the Zacks REIT and Equity Trust - Other industry. Another stock from the same industry, W.P. Carey (WPC - Free Report) , closed the last trading session 0.4% lower at $81.14. Over the past month, WPC has returned -1.8%.
W.P. Carey's consensus FFO per share estimate for the upcoming report has remained unchanged over the past month at $1.29. Compared to the company's year-ago FFO per share, this represents a change of +1.6%. W.P. Carey currently boasts a Zacks Rank of #3 (Hold).
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Park Hotels & Resorts (PK) Stock Jumps 5.9%: Will It Continue to Soar?
Park Hotels & Resorts (PK - Free Report) shares rallied 5.9% in the last trading session to close at $13.86. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 32% loss over the past four weeks.
This increased optimism reflects the recovering fundamentals of the overall lodging industry.
This company is expected to post quarterly funds from operations (FFO) of $0.49 per share in its upcoming report, which represents a year-over-year change of +406.3%. Revenues are expected to be $650.67 million, up 101.5% from the year-ago quarter.
While FFO and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in FFO estimate revisions and near-term stock price movements.
For Park Hotels & Resorts, the consensus FFO per share estimate for the quarter has been revised 1.7% higher over the last 30 days to the current level. And a positive trend in FFO estimate revision usually translates into price appreciation. So, make sure to keep an eye on PK going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Park Hotels & Resorts belongs to the Zacks REIT and Equity Trust - Other industry. Another stock from the same industry, W.P. Carey (WPC - Free Report) , closed the last trading session 0.4% lower at $81.14. Over the past month, WPC has returned -1.8%.
W.P. Carey's consensus FFO per share estimate for the upcoming report has remained unchanged over the past month at $1.29. Compared to the company's year-ago FFO per share, this represents a change of +1.6%. W.P. Carey currently boasts a Zacks Rank of #3 (Hold).