Marriott International (NASDAQ:MAR – Get Free Report) updated its third quarter 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 2.270-2.330 for the period, compared to the consensus estimate of 2.380. The company issued revenue guidance of -. Marriott International also updated its FY 2024 guidance to 9.230-9.400 EPS.
Marriott International Stock Down 5.5 %
MAR traded down $13.03 during trading on Wednesday, reaching $225.74. The stock had a trading volume of 362,592 shares, compared to its average volume of 1,439,018. The firm has a market capitalization of $64.48 billion, a price-to-earnings ratio of 24.64, a price-to-earnings-growth ratio of 4.49 and a beta of 1.60. The stock has a 50 day moving average of $238.87 and a two-hundred day moving average of $242.14. Marriott International has a 1-year low of $180.75 and a 1-year high of $260.57.
Marriott International (NASDAQ:MAR – Get Free Report) last released its 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). Marriott International had a negative return on equity of 376.88% and a net margin of 12.00%. The business had revenue of $5.98 billion for the quarter, compared to analyst estimates of $5.95 billion. During the same period in the prior year, the firm posted $2.09 EPS. Marriott International’s revenue was up 6.4% on a year-over-year basis. On average, research analysts forecast that Marriott International will post 9.56 EPS for the current fiscal year.
Marriott International Increases Dividend
Wall Street Analysts Forecast Growth
Several research firms recently issued reports on MAR. Barclays increased their price target on shares of Marriott International from $240.00 to $251.00 and gave the stock an equal weight rating in a research report on Wednesday, July 17th. Mizuho raised their price target on shares of Marriott International from $260.00 to $265.00 and gave the company a neutral rating in a research note on Thursday, May 2nd. Robert W. Baird raised their price target on shares of Marriott International from $248.00 to $250.00 and gave the company a neutral rating in a research note on Thursday, May 2nd. Wells Fargo & Company dropped 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 note on Thursday, May 2nd. Finally, BMO Capital Markets raised their price target on shares of Marriott International from $235.00 to $240.00 and gave the stock a market perform rating in a report on Thursday, May 2nd. Thirteen analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of Hold and a consensus target price of $243.59.
View Our Latest Research Report on Marriott International
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.
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