Marriott International (MAR) Price Target Increased to $112.00 by Analysts at Morgan Stanley
Marriott International (NASDAQ:MAR) had its price target lifted by Morgan Stanley from $110.00 to $112.00 in a research report sent to investors on Thursday. They currently have an overweight rating on the stock.
MAR has been the subject of a number of other reports. Wolfe Research upgraded shares of Marriott International from a market perform rating to an outperform rating in a research report on Wednesday, August 30th. BidaskClub upgraded shares of Marriott International from a buy rating to a strong-buy rating in a research report on Thursday, October 12th. Berenberg Bank reiterated a buy rating and issued a $125.00 price target on shares of Marriott International in a research report on Friday, August 18th. J P Morgan Chase & Co reiterated an overweight rating and issued a $113.00 price target (up from $111.00) on shares of Marriott International in a research report on Wednesday, August 9th. Finally, Royal Bank of Canada reiterated a buy rating on shares of Marriott International in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $106.64.
Shares of Marriott International (MAR) traded up $1.30 during midday trading on Thursday, reaching $120.11. 3,377,000 shares of the company traded hands, compared to its average volume of 2,456,549. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.52 and a quick ratio of 0.53. The company has a market capitalization of $43,315.90, a price-to-earnings ratio of 29.05, a price-to-earnings-growth ratio of 3.06 and a beta of 1.34. Marriott International has a 12 month low of $72.75 and a 12 month high of $124.34.
Marriott International (NASDAQ:MAR) last posted its quarterly earnings results on Tuesday, November 7th. The company reported $1.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.98 by $0.12. The business had revenue of $5.66 billion during the quarter, compared to analyst estimates of $5.22 billion. Marriott International had a net margin of 6.30% and a return on equity of 31.58%. The company’s revenue was up 43.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.91 earnings per share. analysts predict that Marriott International will post 4.22 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Wednesday, November 22nd will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend is Tuesday, November 21st. Marriott International’s payout ratio is 35.87%.
Marriott International announced that its board has initiated a share buyback plan on Thursday, November 9th that allows the company to buyback 30,000,000 outstanding shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.
In related news, EVP Edward A. Ryan sold 6,000 shares of the company’s stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $108.00, for a total transaction of $648,000.00. Following the sale, the executive vice president now owns 74,406 shares of the company’s stock, valued at $8,035,848. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Juliana B. Marriott sold 8,400 shares of the company’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $100.51, for a total transaction of $844,284.00. Following the sale, the insider now directly owns 18,000 shares in the company, valued at approximately $1,809,180. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 110,727 shares of company stock worth $11,339,600. 11.32% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of MAR. Advisory Services Network LLC increased its position in Marriott International by 1,490.1% during the second quarter. Advisory Services Network LLC now owns 1,129 shares of the company’s stock valued at $113,000 after acquiring an additional 1,058 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new position in Marriott International during the first quarter valued at $115,000. Baker Ellis Asset Management LLC bought a new position in Marriott International during the second quarter valued at $133,000. First Quadrant L P CA bought a new position in Marriott International during the third quarter valued at $136,000. Finally, Carroll Financial Associates Inc. increased its position in Marriott International by 175.6% during the third quarter. Carroll Financial Associates Inc. now owns 1,323 shares of the company’s stock valued at $147,000 after acquiring an additional 843 shares during the last quarter. Institutional investors and hedge funds own 66.06% of the company’s stock.
About Marriott International
Marriott International, Inc (Marriott International) is a lodging company. Marriott International operates in three business segments: North American Full-Service, North American Limited-Service and International. Its North American Full-Service segment includes its Luxury and Premium brands (JW Marriott, Marriott Hotels, Sheraton, Westin, Renaissance Hotels, Le Meridien, Autograph Collection Hotels, Delta Hotels, Gaylord Hotels, and Tribute Portfolio) located in the United States and Canada.
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