Marriot Vacations Worldwide Corporation (VAC) Posts Quarterly Earnings Results, Beats Expectations By $0.27 EPS
Marriot Vacations Worldwide Corporation (NYSE:VAC) released its quarterly earnings results on Thursday. The company reported $1.41 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.14 by $0.27, Bloomberg Earnings reports. The company had revenue of $486.99 million for the quarter, compared to analysts’ expectations of $470.05 million. Marriot Vacations Worldwide Corporation had a return on equity of 17.91% and a net margin of 8.28%. The business’s quarterly revenue was up 21.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.96 earnings per share. Marriot Vacations Worldwide Corporation updated its FY17 guidance to $5.30-5.41 EPS.
Marriot Vacations Worldwide Corporation (VAC) opened at $141.85 on Friday. The company has a debt-to-equity ratio of 1.21, a current ratio of 6.64 and a quick ratio of 3.60. The company has a market cap of $3,621.55, a PE ratio of 22.56 and a beta of 1.20.
The firm also recently declared a quarterly dividend, which was paid on Thursday, October 5th. Shareholders of record on Thursday, September 21st were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend was Wednesday, September 20th. Marriot Vacations Worldwide Corporation’s dividend payout ratio (DPR) is presently 23.10%.
Marriot Vacations Worldwide Corporation declared that its Board of Directors has initiated a stock buyback plan on Thursday, August 3rd that allows the company to repurchase 1,000,000 outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
A number of equities analysts recently commented on VAC shares. Stifel Nicolaus reaffirmed a “buy” rating and issued a $130.00 price objective (up from $120.00) on shares of Marriot Vacations Worldwide Corporation in a research note on Thursday, September 21st. ValuEngine raised Marriot Vacations Worldwide Corporation from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Janney Montgomery Scott reaffirmed a “buy” rating and issued a $140.00 price objective on shares of Marriot Vacations Worldwide Corporation in a research note on Tuesday, August 29th. Zacks Investment Research raised Marriot Vacations Worldwide Corporation from a “hold” rating to a “buy” rating and set a $129.00 price objective on the stock in a research note on Tuesday, August 8th. Finally, Nomura started coverage on Marriot Vacations Worldwide Corporation in a research note on Wednesday, October 25th. They issued a “buy” rating and a $151.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. Marriot Vacations Worldwide Corporation presently has a consensus rating of “Hold” and a consensus price target of $133.22.
In other Marriot Vacations Worldwide Corporation news, major shareholder J W. Marriott, Jr. sold 5,962 shares of the business’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $114.18, for a total value of $680,741.16. Following the transaction, the insider now directly owns 12,144 shares of the company’s stock, valued at $1,386,601.92. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Brian E. Miller sold 10,500 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $114.61, for a total value of $1,203,405.00. Following the completion of the transaction, the vice president now directly owns 12,058 shares in the company, valued at $1,381,967.38. The disclosure for this sale can be found here. 3.30% of the stock is currently owned by insiders.
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Marriot Vacations Worldwide Corporation Company Profile
Marriott Vacations Worldwide Corporation focuses on vacation ownership, based on number of owners, number of resorts and revenues. The Company is an exclusive worldwide developer, marketer, seller and manager of vacation ownership and related products under the Marriott Vacation Club and Grand Residences by Marriott brands.
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