Marriott International (NASDAQ:MAR) Updates Q2 Earnings Guidance

Marriott International (NASDAQ:MAR) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $2.43-2.48 for the period, compared to the consensus estimate of $2.51. Marriott International also updated its FY 2024 guidance to 9.310-9.650 EPS.

Marriott International Stock Performance

Shares of MAR traded down $0.97 during mid-day trading on Friday, hitting $234.59. 1,572,856 shares of the company’s stock were exchanged, compared to its average volume of 1,539,790. The company has a market cap of $67.00 billion, a price-to-earnings ratio of 24.21, a P/E/G ratio of 5.24 and a beta of 1.61. Marriott International has a fifty-two week low of $165.13 and a fifty-two week high of $260.57. The stock’s 50-day moving average is $247.74 and its 200-day moving average is $228.13.

Marriott International (NASDAQ:MAR) last issued its earnings results on Wednesday, May 1st. The company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.17 by ($0.04). The firm had revenue of $5.98 billion during the quarter, compared to analyst estimates of $5.95 billion. Marriott International had a net margin of 12.00% and a negative return on equity of 376.88%. The firm’s revenue was up 6.4% compared to the same quarter last year. During the same period last year, the business earned $2.09 EPS. As a group, equities research analysts anticipate that Marriott International will post 9.49 EPS for the current year.

Marriott International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, February 22nd were paid a $0.52 dividend. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $2.08 annualized dividend and a yield of 0.89%. Marriott International’s dividend payout ratio is currently 21.47%.

Analysts Set New Price Targets

Several brokerages have commented on MAR. Wells Fargo & Company dropped their price target on shares of Marriott International from $250.00 to $248.00 and set an equal weight rating on the stock in a research note on Thursday. UBS Group raised their target price on shares of Marriott International from $210.00 to $259.00 and gave the stock a neutral rating in a research report on Wednesday, February 28th. Barclays lifted their price objective on shares of Marriott International from $239.00 to $240.00 and gave the company an equal weight rating in a research report on Friday, April 19th. Mizuho lifted their price objective on shares of Marriott International from $260.00 to $265.00 and gave the company a neutral rating in a research report on Thursday. Finally, BMO Capital Markets lifted their price objective on shares of Marriott International from $235.00 to $240.00 and gave the company a market perform rating in a research report on Thursday. Eleven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $241.33.

Insider Buying and Selling at Marriott International

In other Marriott International news, Director Eric Hippeau sold 1,400 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $251.19, for a total value of $351,666.00. Following the completion of the sale, the director now owns 72 shares of the company’s stock, valued at $18,085.68. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, insider Satyajit Anand sold 2,749 shares of Marriott International stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $251.93, for a total transaction of $692,555.57. Following the completion of the transaction, the insider now owns 24,478 shares of the company’s stock, valued at approximately $6,166,742.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Eric Hippeau sold 1,400 shares of Marriott International stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $251.19, for a total value of $351,666.00. Following the transaction, the director now directly owns 72 shares of the company’s stock, valued at approximately $18,085.68. The disclosure for this sale can be found here. Over the last quarter, insiders sold 125,003 shares of company stock valued at $30,435,493. 12.32% of the stock is owned by company insiders.

Marriott International Company Profile

Marriott International, Inc engages in operating, franchising, and licensing hotel, residential, timeshare, and other lodging properties worldwide. It operates its properties under the JW Marriott, The Ritz-Carlton, The Luxury Collection, W Hotels, St. Regis, EDITION, Bvlgari, Marriott Hotels, Sheraton, Westin, Autograph Collection, Renaissance Hotels, Le Méridien, Delta Hotels by Marriott, Tribute Portfolio, Gaylord Hotels, Design Hotels, Marriott Executive Apartments, Apartments by Marriott Bonvoy, Courtyard by Marriott, Fairfield by Marriott, Residence Inn by Marriott, SpringHill Suites by Marriott, Four Points by Sheraton, TownePlace Suites by Marriott, Aloft Hotels, AC Hotels by Marriott, Moxy Hotels, Element Hotels, Protea Hotels by Marriott, and City Express by Marriott brand names, as well as operates residences, timeshares, and yachts.