Share Repurchase Program Authorized by Marriott International (MAR)
Marriott International (NASDAQ:MAR) declared that its Board of Directors has authorized a stock repurchase program, which authorizes the company to buyback 30,000,000 outstanding shares on Thursday, November 9th, EventVestor reports. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.
Marriott International (NASDAQ MAR) opened at $120.11 on Friday. The firm has a market cap of $43,315.90, a price-to-earnings ratio of 29.05, a price-to-earnings-growth ratio of 3.06 and a beta of 1.34. The company has a current ratio of 0.52, a quick ratio of 0.53 and a debt-to-equity ratio of 1.83. Marriott International has a fifty-two week low of $72.75 and a fifty-two week high of $124.34.
Marriott International (NASDAQ:MAR) last released its earnings results 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 the consensus estimate of $5.22 billion. During the same period in the previous year, the firm earned $0.91 EPS. The business’s revenue for the quarter was up 43.7% on a year-over-year basis. sell-side analysts predict that Marriott International will post 4.22 earnings per share for the current year.
The company 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 $0.33 dividend. 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 currently 35.87%.
Several analysts have recently commented on MAR shares. Robert W. Baird increased their price target on shares of Marriott International from $111.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday. BidaskClub lowered shares of Marriott International from a “strong-buy” rating to a “buy” rating in a research report on Friday. Morgan Stanley increased their price target on shares of Marriott International from $110.00 to $112.00 and gave the company an “overweight” rating in a research report on Thursday. SunTrust Banks, Inc. increased their price target on shares of Marriott International to $108.00 and gave the company a “hold” rating in a research report on Thursday. Finally, 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 report on Wednesday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $106.64.
In other news, insider Argiris Kyriakidis sold 3,000 shares of Marriott International stock in a transaction that occurred on Thursday, September 21st. The shares were sold at an average price of $107.84, for a total value of $323,520.00. Following the transaction, the insider now directly owns 16,079 shares of the company’s stock, valued at $1,733,959.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Edward A. Ryan sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, September 22nd. The shares were sold at an average price of $108.00, for a total transaction of $648,000.00. Following the transaction, the executive vice president now directly owns 74,406 shares in the company, valued at $8,035,848. The disclosure for this sale can be found here. Over the last three months, insiders sold 110,727 shares of company stock worth $11,339,600. 11.32% of the stock is currently owned by insiders.
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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