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.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Robert W. Baird boosted their price objective on shares of Marriott International from $248.00 to $250.00 and gave the company a neutral rating in a research report on Thursday. BMO Capital Markets lifted their target price on shares of Marriott International from $235.00 to $240.00 and gave the company a market perform rating in a research note on Thursday. Wells Fargo & Company cut their target price 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. Argus lifted their target price on shares of Marriott International from $270.00 to $280.00 and gave the company a buy rating in a research note on Tuesday, March 19th. Finally, Mizuho lifted their target price on shares of Marriott International from $260.00 to $265.00 and gave the company a neutral rating in a research note on Thursday. Eleven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Marriott International has a consensus rating of Hold and a consensus target price of $241.33.

Marriott International Stock Down 0.4 %

Marriott International stock traded down $0.97 during trading hours on Friday, hitting $234.59. The 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 P/E ratio of 24.21, a price-to-earnings-growth ratio of 5.24 and a beta of 1.61. Marriott International has a 12-month low of $165.13 and a 12-month high of $260.57. The stock’s 50-day moving average price is $247.74 and its 200-day moving average price is $228.13.

Marriott International (NASDAQ:MAR) last released its quarterly earnings data 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 company had revenue of $5.98 billion for the quarter, compared to analysts’ expectations of $5.95 billion. During the same period in the previous year, the firm earned $2.09 earnings per share. 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 Dividend Announcement

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

Insiders Place Their Bets

In other Marriott International news, Director Eric Hippeau sold 1,400 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The shares were 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 directly owns 72 shares in the company, valued at $18,085.68. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Kathleen K. Oberg sold 47,109 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $242.71, for a total transaction of $11,433,825.39. Following the sale, the chief financial officer now owns 20,036 shares of the company’s stock, valued at $4,862,937.56. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Eric Hippeau sold 1,400 shares of the company’s stock in a transaction 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 sale, the director now directly owns 72 shares in the company, valued at approximately $18,085.68. The disclosure for this sale can be found here. Insiders sold a total of 125,003 shares of company stock worth $30,435,493 over the last three months. 12.32% of the stock is currently owned by company insiders.

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.