Marriott International (NASDAQ:MAR) Issues FY 2024 Earnings Guidance

Marriott International (NASDAQ:MAR) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 9.310-9.650 for the period, compared to the consensus EPS estimate of 9.440. The company issued revenue guidance of -. Marriott International also updated its FY24 guidance to $9.31-9.65 EPS.

Analyst Ratings Changes

MAR has been the topic of several recent analyst reports. Wells Fargo & Company dropped their price target on shares of Marriott International from $250.00 to $248.00 and set an equal weight rating on the stock in a research note on Thursday. Mizuho raised their target price on shares of Marriott International from $260.00 to $265.00 and gave the stock a neutral rating in a research report on Thursday. Robert W. Baird lifted their price objective on shares of Marriott International from $248.00 to $250.00 and gave the company a neutral rating in a research report on Thursday. Argus lifted their price objective on shares of Marriott International from $270.00 to $280.00 and gave the company a buy rating in a research report on Tuesday, March 19th. Finally, UBS Group lifted their price objective on shares of Marriott International from $210.00 to $259.00 and gave the company a neutral rating in a research report on Wednesday, February 28th. Eleven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $241.33.

Marriott International Trading Down 0.4 %

MAR traded down $0.97 during midday trading on Friday, hitting $234.59. The company’s stock had a trading volume of 1,572,856 shares, compared to its average volume of 1,539,790. The firm has a market cap of $67.00 billion, a P/E ratio of 24.21, a PEG ratio of 5.24 and a beta of 1.61. The firm has a 50-day moving average price of $247.40 and a two-hundred day moving average price of $228.39. Marriott International has a 52-week low of $165.13 and a 52-week high of $260.57.

Marriott International (NASDAQ:MAR) last released its quarterly earnings results on Wednesday, May 1st. The company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.17 by ($0.04). Marriott International had a negative return on equity of 376.88% and a net margin of 12.00%. The company had revenue of $5.98 billion for the quarter, compared to analyst estimates of $5.95 billion. During the same period last year, the firm posted $2.09 earnings per share. The business’s revenue was up 6.4% on a year-over-year basis. On average, equities analysts expect that Marriott International will post 9.49 EPS for the current year.

Marriott International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, February 22nd were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend was Wednesday, February 21st. Marriott International’s dividend payout ratio (DPR) is presently 21.47%.

Insiders Place Their Bets

In other Marriott International news, EVP Rena Hozore Reiss sold 3,563 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $240.39, for a total value of $856,509.57. Following the transaction, the executive vice president now owns 36,778 shares of the company’s stock, valued at $8,841,063.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Rena Hozore Reiss sold 3,563 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $240.39, for a total transaction of $856,509.57. Following the completion of the transaction, the executive vice president now owns 36,778 shares of the company’s stock, valued at $8,841,063.42. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Kathleen K. Oberg sold 47,109 shares of the stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $242.71, for a total transaction of $11,433,825.39. Following the completion of the sale, the chief financial officer now directly owns 20,036 shares in the company, valued at approximately $4,862,937.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 125,003 shares of company stock valued at $30,435,493. Company insiders own 12.32% of the company’s stock.

Marriott International Company Profile

Marriott International, Inc engages in operating, franchising, and licensing hotel, residential, timeshare, and other lodging properties worldwide. It operates its properties under the JW Marriott, The Ritz-Carlton, The Luxury Collection, W Hotels, St. Regis, EDITION, Bvlgari, Marriott Hotels, Sheraton, Westin, Autograph Collection, Renaissance Hotels, Le Méridien, Delta Hotels by Marriott, Tribute Portfolio, Gaylord Hotels, Design Hotels, Marriott Executive Apartments, Apartments by Marriott Bonvoy, Courtyard by Marriott, Fairfield by Marriott, Residence Inn by Marriott, SpringHill Suites by Marriott, Four Points by Sheraton, TownePlace Suites by Marriott, Aloft Hotels, AC Hotels by Marriott, Moxy Hotels, Element Hotels, Protea Hotels by Marriott, and City Express by Marriott brand names, as well as operates residences, timeshares, and yachts.