Marriott International (NASDAQ:MAR) Releases Q2 Earnings Guidance

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

Wall Street Analysts Forecast Growth

MAR has been the subject of a number of analyst reports. UBS Group increased their target price on shares of Marriott International from $210.00 to $259.00 and gave the stock a neutral rating in a report on Wednesday, February 28th. Mizuho boosted their target price on Marriott International from $260.00 to $265.00 and gave the company a neutral rating in a research note on Thursday. BMO Capital Markets lifted their price target on shares of Marriott International from $235.00 to $240.00 and gave the company a market perform rating in a report on Thursday. Argus lifted their target price on shares of Marriott International from $270.00 to $280.00 and gave the company a buy rating in a research note on Tuesday, March 19th. Finally, Wells Fargo & Company lowered their price objective on shares of Marriott International from $250.00 to $248.00 and set an equal weight rating for the company in a report on Thursday. Eleven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $241.33.

Marriott International Price Performance

Marriott International stock traded down $0.97 during mid-day trading on Friday, reaching $234.59. The stock had a trading volume of 1,572,856 shares, compared to its average volume of 1,539,790. The company has a market capitalization of $67.00 billion, a price-to-earnings ratio of 24.21, a PEG ratio of 5.24 and a beta of 1.61. Marriott International has a one year low of $165.13 and a one year high of $260.57. The company has a 50-day moving average price of $247.74 and a two-hundred day moving average price of $228.13.

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

Marriott International Dividend Announcement

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

Insider Buying and Selling at Marriott International

In other news, insider Satyajit Anand sold 2,749 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $251.93, for a total transaction of $692,555.57. Following the completion of the transaction, the insider now directly owns 24,478 shares of the company’s stock, valued at $6,166,742.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Satyajit Anand sold 2,749 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $251.93, for a total transaction of $692,555.57. Following the completion of the sale, the insider now owns 24,478 shares in the company, valued at $6,166,742.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Rena Hozore Reiss sold 3,563 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $240.39, for a total value of $856,509.57. Following the completion of the transaction, the executive vice president now directly owns 36,778 shares in the company, valued at $8,841,063.42. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 125,003 shares of company stock worth $30,435,493. Company 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.