Sanford C. Bernstein Lowers Marriott International (MAR) to Market Perform
Sanford C. Bernstein downgraded shares of Marriott International (NASDAQ:MAR) from an outperform rating to a market perform rating in a research note issued to investors on Thursday, MarketBeat.com reports.
Other research analysts have also issued reports about the stock. Berenberg Bank reiterated a buy rating and issued a $125.00 target price on shares of Marriott International in a research note on Friday, August 18th. BidaskClub lowered shares of Marriott International from a strong-buy rating to a buy rating in a research note on Monday, August 14th. Zacks Investment Research upgraded shares of Marriott International from a hold rating to a buy rating and set a $130.00 target price on the stock in a research note on Thursday, October 26th. Royal Bank Of Canada restated a buy rating on shares of Marriott International in a research report on Tuesday, November 7th. Finally, Robert W. Baird restated a hold rating and issued a $103.00 price target on shares of Marriott International in a research report on Sunday, September 17th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the stock. The company currently has an average rating of Buy and an average target price of $108.62.
Marriott International (NASDAQ:MAR) traded up $1.10 during trading hours on Thursday, reaching $125.48. 2,930,128 shares of the company were exchanged, compared to its average volume of 2,897,813. Marriott International has a 1-year low of $76.88 and a 1-year high of $125.64. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.83. The firm has a market cap of $45,747.63, a price-to-earnings ratio of 30.68, a PEG ratio of 3.14 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, beating 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 EPS. Marriott International’s revenue was up 43.7% compared to the same quarter last year. equities analysts anticipate that Marriott International will post 4.24 EPS for the current fiscal year.
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Marriott International declared that its Board of Directors has initiated a stock repurchase plan on Thursday, November 9th that permits the company to buyback 30,000,000 shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Wednesday, November 22nd will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend is Tuesday, November 21st. Marriott International’s payout ratio is 35.87%.
In related news, insider J W. Marriott, Jr. sold 10,376 shares of Marriott International stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $102.01, for a total transaction of $1,058,455.76. Following the completion of the transaction, the insider now directly owns 229,648 shares of the company’s stock, valued at approximately $23,426,392.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Edward A. Ryan sold 4,453 shares of Marriott International 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 transaction, the executive vice president now directly owns 80,406 shares of the company’s stock, valued at $8,346,946.86. The disclosure for this sale can be found here. Insiders have sold a total of 202,977 shares of company stock valued at $23,240,427 over the last three months. 11.32% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in MAR. Advisory Services Network LLC raised its stake in shares of Marriott International by 1,490.1% in the second 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 last quarter. Baker Ellis Asset Management LLC bought a new position in shares of Marriott International in the second quarter worth about $133,000. First Quadrant L P CA bought a new position in shares of Marriott International in the third quarter worth about $136,000. Grove Bank & Trust raised its stake in shares of Marriott International by 214.8% in the third quarter. Grove Bank & Trust now owns 1,231 shares of the company’s stock worth $136,000 after acquiring an additional 840 shares during the last quarter. Finally, Carroll Financial Associates Inc. raised its stake in shares of Marriott International by 175.6% in the third quarter. Carroll Financial Associates Inc. now owns 1,323 shares of the company’s stock worth $147,000 after acquiring an additional 843 shares during the last quarter. 65.88% of the stock is owned by institutional investors.
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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