Marriott International (NASDAQ:MAR) Updates Q2 2024 Earnings Guidance

Marriott International (NASDAQ:MAR) updated its second quarter 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 2.430-2.480 for the period, compared to the consensus estimate of 2.510. The company issued revenue guidance of -. Marriott International also updated its FY 2024 guidance to 9.310-9.650 EPS.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Wells Fargo & Company lowered their price target on shares of Marriott International from $250.00 to $248.00 and set an equal weight rating for the company in a research report on Thursday. Robert W. Baird increased their target price on Marriott International from $248.00 to $250.00 and gave the company a neutral rating in a research report on Thursday. Mizuho boosted their price target on Marriott International from $260.00 to $265.00 and gave the stock a neutral rating in a research report on Thursday. BMO Capital Markets raised their price objective on Marriott International from $235.00 to $240.00 and gave the company a market perform rating in a research report on Thursday. Finally, Barclays boosted their target price on shares of Marriott International from $239.00 to $240.00 and gave the stock an equal weight rating in a report on Friday, April 19th. Eleven research 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, the company presently has a consensus rating of Hold and a consensus price target of $241.33.

Marriott International Trading Down 0.4 %

Shares of NASDAQ:MAR traded down $0.97 on Friday, hitting $234.59. 1,572,856 shares of the company were exchanged, compared to its average volume of 1,539,790. The stock’s 50 day moving average price is $247.40 and its 200 day moving average price is $228.39. Marriott International has a 1-year low of $165.13 and a 1-year high of $260.57. The firm has a market capitalization of $67.00 billion, a P/E ratio of 24.21, a price-to-earnings-growth ratio of 5.24 and a beta of 1.61.

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

Marriott International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders 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 was Wednesday, February 21st. Marriott International’s payout ratio is 21.47%.

Insider Activity

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

About Marriott International

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.