Marriott International (NASDAQ:MAR) Updates Q2 Earnings Guidance

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

Analysts Set New Price Targets

A number of research firms have commented on MAR. UBS Group boosted their price target on shares of Marriott International from $210.00 to $259.00 and gave the stock a neutral rating in a research note on Wednesday, February 28th. Mizuho raised their price target on Marriott International from $260.00 to $265.00 and gave the company a neutral rating in a research report on Thursday. Robert W. Baird upped their price objective on Marriott International from $248.00 to $250.00 and gave the stock a neutral rating in a report on Thursday. Argus boosted their target price on Marriott International from $270.00 to $280.00 and gave the stock a buy rating in a research report on Tuesday, March 19th. Finally, Barclays lifted their price target on shares of Marriott International from $239.00 to $240.00 and gave the stock an equal weight rating in a research note on Friday, April 19th. Eleven analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $241.33.

Marriott International Trading Down 0.4 %

NASDAQ:MAR traded down $0.97 during midday trading on Friday, hitting $234.59. 1,572,856 shares of the company traded hands, compared to its average volume of 1,539,790. Marriott International has a 12-month low of $165.13 and a 12-month high of $260.57. The firm has a market capitalization of $67.00 billion, a P/E ratio of 24.21, a P/E/G ratio of 5.24 and a beta of 1.61. The firm’s fifty day moving average is $247.74 and its 200-day moving average is $228.13.

Marriott International (NASDAQ:MAR) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). Marriott International had a net margin of 12.00% and a negative return on equity of 376.88%. The firm had revenue of $5.98 billion during the quarter, compared to analysts’ expectations of $5.95 billion. During the same quarter in the previous year, the firm posted $2.09 EPS. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. On average, research analysts expect that Marriott International will post 9.49 EPS for the current fiscal year.

Marriott International Announces Dividend

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

Insider Activity

In related news, CFO Kathleen K. Oberg sold 47,109 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $242.71, for a total value of $11,433,825.39. Following the completion of the transaction, the chief financial officer now owns 20,036 shares of the company’s stock, valued at approximately $4,862,937.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Kathleen K. Oberg sold 47,109 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $242.71, for a total value of $11,433,825.39. Following the completion of the sale, the chief financial officer now directly owns 20,036 shares in the company, valued at $4,862,937.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Rena Hozore Reiss sold 3,563 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $240.39, for a total transaction of $856,509.57. Following the completion of the sale, the executive vice president now owns 36,778 shares of the company’s stock, valued at approximately $8,841,063.42. The disclosure for this sale can be found here. Insiders have sold 125,003 shares of company stock valued at $30,435,493 in the last ninety days. Insiders own 12.32% of the company’s stock.

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.