Marriott International (NASDAQ:MAR) Releases FY24 Earnings Guidance

Marriott International (NASDAQ:MAR) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $9.31-9.65 for the period, compared to the consensus estimate of $9.44. Marriott International also updated its FY 2024 guidance to 9.310-9.650 EPS.

Marriott International Trading Down 0.4 %

Shares of NASDAQ:MAR traded down $0.97 during trading on Friday, reaching $234.59. The company’s stock had a trading volume of 1,572,856 shares, compared to its average volume of 1,539,790. The stock has a market capitalization of $67.00 billion, a PE ratio of 24.21, a price-to-earnings-growth ratio of 5.24 and a beta of 1.61. The firm’s 50 day simple moving average is $247.74 and its two-hundred day simple moving average is $228.13. Marriott International has a 12 month low of $165.13 and a 12 month high of $260.57.

Marriott International (NASDAQ:MAR) last announced 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). 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 period in the prior year, the company posted $2.09 EPS. The company’s revenue was up 6.4% compared to the same quarter last year. Research analysts anticipate that Marriott International will post 9.49 EPS for the current fiscal year.

Marriott International Dividend Announcement

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

Wall Street Analysts Forecast Growth

MAR has been the subject of several research reports. Barclays boosted 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. BMO Capital Markets raised their price objective on Marriott International from $235.00 to $240.00 and gave the stock a market perform rating in a report on Thursday. Robert W. Baird raised their price target on Marriott International from $248.00 to $250.00 and gave the company a neutral rating in a research note on Thursday. UBS Group lifted their target price on Marriott International from $210.00 to $259.00 and gave the company a neutral rating in a research note on Wednesday, February 28th. Finally, Wells Fargo & Company reduced their target price on Marriott International from $250.00 to $248.00 and set an equal weight rating on the stock in a research report on Thursday. Eleven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Marriott International currently has an average rating of Hold and an average target price of $241.33.

Insider Activity

In other news, Director Eric Hippeau sold 1,400 shares of Marriott International stock in a transaction dated 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 transaction, the director now owns 72 shares in the company, valued at approximately $18,085.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Anthony Capuano sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $248.48, for a total transaction of $4,969,600.00. Following the completion of the sale, the chief executive officer now owns 93,323 shares in the company, valued at $23,188,899.04. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Eric Hippeau sold 1,400 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $251.19, for a total transaction of $351,666.00. Following the completion of the transaction, the director now owns 72 shares in the company, valued at $18,085.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 125,003 shares of company stock worth $30,435,493. Corporate insiders own 12.32% of the company’s stock.

About Marriott International

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.