Marriott International (MAR) Price Target Raised to $115.00
Marriott International (NASDAQ:MAR) had its price target lifted by Robert W. Baird from $111.00 to $115.00 in a report published on Friday morning. Robert W. Baird currently has a neutral rating on the stock.
Several other equities research analysts have also issued reports on the stock. 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 note on Wednesday, August 9th. Morgan Stanley lifted their price target on shares of Marriott International from $110.00 to $112.00 and gave the company an overweight rating in a research note on Thursday. Berenberg Bank reiterated a buy rating and issued a $125.00 price target on shares of Marriott International in a research note on Friday, August 18th. Stifel Nicolaus reiterated a hold rating and issued a $115.00 price target (up from $98.00) on shares of Marriott International in a research note on Wednesday, November 8th. Finally, BidaskClub upgraded shares of Marriott International from a buy rating to a strong-buy rating in a research note on Tuesday, August 8th. One analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the company. The stock currently has an average rating of Buy and an average target price of $106.64.
Shares of Marriott International (NASDAQ MAR) traded up $1.30 during trading hours on Friday, hitting $120.11. 3,377,000 shares of the company were exchanged, compared to its average volume of 2,456,549. Marriott International has a fifty-two week low of $72.75 and a fifty-two week high of $124.34. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.83. The firm has a market capitalization of $43,789.86, a price-to-earnings ratio of 29.37, a price-to-earnings-growth ratio of 3.00 and a beta of 1.34.
Marriott International (NASDAQ:MAR) last issued its quarterly earnings data on Tuesday, November 7th. The company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.12. Marriott International had a net margin of 6.30% and a return on equity of 31.58%. The business had revenue of $5.66 billion for the quarter, compared to analyst estimates of $5.22 billion. During the same period last year, the business posted $0.91 earnings per share. The firm’s quarterly revenue was up 43.7% on a year-over-year basis. equities analysts predict that Marriott International will post 4.24 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Wednesday, November 22nd will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.10%. The ex-dividend date is Tuesday, November 21st. Marriott International’s payout ratio is 35.87%.
Marriott International announced that its Board of Directors has approved a stock repurchase program on Thursday, November 9th that authorizes the company to buyback 30,000,000 shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.
In other Marriott International news, insider David S. Marriott sold 8,400 shares of the business’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $100.51, for a total value of $844,284.00. Following the completion of the sale, the insider now owns 629,136 shares of the company’s stock, valued at approximately $63,234,459.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Edward A. Ryan sold 4,453 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $103.81, for a total transaction of $462,265.93. Following the completion of the sale, the executive vice president now directly owns 80,406 shares of the company’s stock, valued at approximately $8,346,946.86. The disclosure for this sale can be found here. Insiders have sold a total of 210,727 shares of company stock valued at $23,836,500 in the last ninety days. 11.32% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of MAR. Advisory Services Network LLC lifted its holdings in shares of Marriott International by 1,490.1% during the 2nd quarter. Advisory Services Network LLC now owns 1,129 shares of the company’s stock worth $113,000 after acquiring an additional 1,058 shares during the period. Oppenheimer Asset Management Inc. bought a new stake in shares of Marriott International during the 1st quarter worth approximately $115,000. Baker Ellis Asset Management LLC bought a new stake in shares of Marriott International during the 2nd quarter worth approximately $133,000. First Quadrant L P CA bought a new stake in shares of Marriott International during the 3rd quarter worth approximately $136,000. Finally, Grove Bank & Trust increased its position in Marriott International by 214.8% during the 3rd quarter. Grove Bank & Trust now owns 1,231 shares of the company’s stock worth $136,000 after purchasing an additional 840 shares in the last quarter. 65.88% of the stock is owned by institutional investors.
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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