Marriott International (MAR) Rating Lowered to Buy at BidaskClub
BidaskClub downgraded shares of Marriott International (NASDAQ:MAR) from a strong-buy rating to a buy rating in a research note released on Friday morning.
MAR has been the topic of several other research reports. J P Morgan Chase & Co reissued an overweight rating and set a $113.00 target price (up previously from $111.00) on shares of Marriott International in a research note on Wednesday, August 9th. Morgan Stanley increased their target price on Marriott International from $110.00 to $112.00 and gave the stock an overweight rating in a research note on Thursday, November 9th. Stifel Nicolaus reissued a hold rating and set a $115.00 target price (up previously from $98.00) on shares of Marriott International in a research note on Wednesday, November 8th. Berenberg Bank reissued a buy rating and set a $125.00 target price on shares of Marriott International in a research note on Friday, August 18th. Finally, SunTrust Banks, Inc. increased their target price on Marriott International to $108.00 and gave the stock a hold rating in a research note on Thursday, November 9th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company. Marriott International has an average rating of Buy and a consensus price target of $106.64.
Marriott International (MAR) opened at $120.39 on Friday. Marriott International has a 12 month low of $73.46 and a 12 month 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 stock has a market capitalization of $43,890.00, a PE ratio of 29.37, a P/E/G ratio of 3.00 and a beta of 1.34.
Marriott International (NASDAQ:MAR) last posted its earnings results on Tuesday, November 7th. The company reported $1.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.12. Marriott International had a return on equity of 31.58% and a net margin of 6.30%. The firm had revenue of $5.66 billion for the quarter, compared to analyst estimates of $5.22 billion. During the same quarter in the prior year, the company earned $0.91 EPS. Marriott International’s revenue was up 43.7% on a year-over-year basis. analysts forecast that Marriott International will post 4.24 earnings per share for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Wednesday, November 22nd will be given 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 of this dividend is Tuesday, November 21st. Marriott International’s dividend payout ratio (DPR) is presently 35.87%.
Marriott International declared that its board has initiated a share repurchase program on Thursday, November 9th that permits the company to buyback 30,000,000 outstanding shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.
In other Marriott International news, EVP Edward A. Ryan sold 6,000 shares of Marriott International stock in a transaction that occurred on Friday, September 22nd. The stock was sold at an average price of $108.00, for a total value of $648,000.00. Following the transaction, the executive vice president now directly owns 74,406 shares in the company, valued at approximately $8,035,848. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Deborah Marriott Harrison sold 130,000 shares of Marriott International stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $119.17, for a total value of $15,492,100.00. Following the completion of the transaction, the insider now owns 114,155 shares in the company, valued at $13,603,851.35. The disclosure for this sale can be found here. Insiders have sold a total of 202,327 shares of company stock worth $22,992,216 in the last 90 days. 11.32% of the stock is currently owned by company insiders.
Several hedge funds have recently made changes to their positions in MAR. Advisory Services Network LLC grew its stake in shares of Marriott International by 1,490.1% in the 2nd quarter. Advisory Services Network LLC now owns 1,129 shares of the company’s stock valued at $113,000 after purchasing an additional 1,058 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new position in shares of Marriott International in the 1st quarter valued at approximately $115,000. Baker Ellis Asset Management LLC purchased a new position in shares of Marriott International in the 2nd quarter valued at approximately $133,000. First Quadrant L P CA purchased a new position in shares of Marriott International in the 3rd quarter valued at approximately $136,000. Finally, Grove Bank & Trust grew its stake in shares of Marriott International by 214.8% in the 3rd quarter. Grove Bank & Trust now owns 1,231 shares of the company’s stock valued at $136,000 after purchasing an additional 840 shares during the last quarter. Institutional investors own 65.88% of the company’s stock.
Marriott International Company Profile
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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