Marriott International (MAR) Issues Earnings Results
Marriott International (NASDAQ:MAR) issued its earnings results on Wednesday. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02. The business earned $5.46 billion during the quarter, compared to analyst estimates of $4.67 billion. Marriott International had a negative return on equity of 76.10% and a net margin of 4.82%. Marriott International updated its Q1 guidance to $0.87-0.91 EPS and its FY17 guidance to $3.79-3.97 EPS.
Shares of Marriott International (NASDAQ:MAR) opened at 89.44 on Friday. Marriott International has a one year low of $60.87 and a one year high of $91.07. The stock’s 50 day moving average price is $84.61 and its 200 day moving average price is $75.99. The company has a market cap of $34.92 billion, a PE ratio of 31.84 and a beta of 1.22.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, February 24th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.34%. The ex-dividend date is Wednesday, February 22nd. Marriott International’s payout ratio is presently 42.25%.
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In related news, insider John W. Marriott III sold 50,000 shares of Marriott International stock in a transaction that occurred on Monday, November 21st. The stock was sold at an average price of $77.38, for a total transaction of $3,869,000.00. Following the completion of the sale, the insider now directly owns 523,070 shares of the company’s stock, valued at approximately $40,475,156.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Edward A. Ryan sold 8,744 shares of Marriott International stock in a transaction that occurred on Monday, November 21st. The stock was sold at an average price of $77.12, for a total value of $674,337.28. Following the sale, the executive vice president now directly owns 87,727 shares of the company’s stock, valued at $6,765,506.24. The disclosure for this sale can be found here. Insiders have sold a total of 169,828 shares of company stock valued at $13,771,614 over the last quarter. 17.07% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the company. IFM Investors Pty Ltd purchased a new stake in Marriott International during the fourth quarter valued at $351,000. LeJeune Puetz Investment Counsel LLC purchased a new stake in Marriott International during the fourth quarter valued at $207,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in Marriott International during the fourth quarter valued at $6,679,000. United Capital Financial Advisers LLC boosted its stake in Marriott International by 92.9% in the fourth quarter. United Capital Financial Advisers LLC now owns 120,123 shares of the company’s stock valued at $9,932,000 after buying an additional 57,861 shares during the last quarter. Finally, Cigna Investments Inc. New purchased a new stake in Marriott International during the fourth quarter valued at $981,000. 64.62% of the stock is owned by institutional investors and hedge funds.
A number of brokerages recently commented on MAR. Zacks Investment Research lowered Marriott International from a “buy” rating to a “hold” rating in a research note on Friday, February 10th. Vetr upgraded Marriott International from a “buy” rating to a “strong-buy” rating and set a $94.74 target price for the company in a research note on Thursday, February 2nd. MKM Partners set a $98.00 target price on Marriott International and gave the company a “buy” rating in a research note on Tuesday, December 20th. Stifel Nicolaus upped their target price on Marriott International from $67.00 to $78.00 and gave the company a “hold” rating in a research note on Tuesday, January 10th. Finally, Deutsche Bank AG restated a “hold” rating and issued a $73.00 target price on shares of Marriott International in a research note on Friday, November 18th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $84.04.
Marriott International Company Profile
Marriott International, Inc is a lodging company. The Company is an operator, franchisor and licensor of hotels and timeshare properties in approximately 90 countries and territories under over 20 brand names. It operates through three segments: North American Full-Service, which includes brands, such as The Ritz-Carlton, EDITION, JW Marriott, Autograph Collection Hotels, Marriott Hotels, Delta Hotels and Resorts, and Renaissance Hotels located in the United States and Canada; North American Limited-Service, which includes brands, such as AC Hotels by Marriott, Courtyard, Residence Inn, SpringHill Suites, TownePlace Suites properties and Fairfield Inn & Suites located in the United States and Canada, and International, which includes brands, such as Bulgari Hotels & Resorts, Protea Hotels and Moxy Hotels located outside the United States and Canada.
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