Marriott International (NASDAQ:MAR) Issues Q2 Earnings Guidance

Marriott International (NASDAQ:MAR) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $2.43-2.48 for the period, compared to the consensus EPS estimate of $2.51. Marriott International also updated its FY 2024 guidance to 9.310-9.650 EPS.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. BMO Capital Markets lifted their target price on Marriott International from $235.00 to $240.00 and gave the company a market perform rating in a research note on Thursday. Wells Fargo & Company decreased their target price 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. UBS Group upped their price target on shares of Marriott International from $210.00 to $259.00 and gave the stock a neutral rating in a research note on Wednesday, February 28th. Truist Financial raised their price objective on shares of Marriott International from $233.00 to $263.00 and gave the company a hold rating in a research note on Wednesday, February 14th. Finally, Argus increased their price target on Marriott International from $270.00 to $280.00 and gave the company a buy rating in a research note on Tuesday, March 19th. Eleven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Marriott International currently has a consensus rating of Hold and an average price target of $241.33.

Marriott International Stock Down 0.4 %

Shares of MAR traded down $0.97 during midday trading on Friday, reaching $234.59. 1,572,856 shares of the stock were exchanged, compared to its average volume of 1,539,790. The company has a market cap of $67.00 billion, a price-to-earnings ratio of 24.21, a P/E/G ratio of 5.24 and a beta of 1.61. The firm has a 50 day simple moving average of $247.74 and a 200-day simple moving average of $228.13. Marriott International has a 12-month low of $165.13 and a 12-month high of $260.57.

Marriott International (NASDAQ:MAR) last released its quarterly earnings data on Wednesday, May 1st. The company reported $2.13 earnings per share (EPS) 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 business had revenue of $5.98 billion during the quarter, compared to analyst estimates of $5.95 billion. During the same period in the previous year, the firm posted $2.09 EPS. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. Research analysts expect that Marriott International will post 9.49 earnings per share for the current fiscal year.

Marriott International Announces Dividend

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

Insiders Place Their Bets

In other Marriott International news, insider Satyajit Anand sold 2,749 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $251.93, for a total value of $692,555.57. Following the completion of the transaction, the insider now owns 24,478 shares of the company’s stock, valued at approximately $6,166,742.54. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, EVP Rena Hozore Reiss sold 3,563 shares of the company’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 sale, the executive vice president now owns 36,778 shares of the company’s stock, valued at $8,841,063.42. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Satyajit Anand sold 2,749 shares of Marriott International stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $251.93, for a total value of $692,555.57. Following the sale, the insider now directly owns 24,478 shares in the company, valued at $6,166,742.54. The disclosure for this sale can be found here. Insiders have sold 125,003 shares of company stock worth $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.