Marriott International (NASDAQ:MAR – Get Free Report) issued an update on its third quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $2.27-2.33 for the period, compared to the consensus estimate of $2.38. Marriott International also updated its FY 2024 guidance to 9.230-9.400 EPS.
Marriott International Stock Performance
MAR opened at $238.77 on Wednesday. The stock has a fifty day moving average of $238.87 and a 200-day moving average of $242.14. Marriott International has a fifty-two week low of $180.75 and a fifty-two week high of $260.57. The company has a market capitalization of $68.20 billion, a P/E ratio of 24.64, a P/E/G ratio of 4.49 and a beta of 1.60.
Marriott International (NASDAQ:MAR – Get Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $2.13 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $5.95 billion. During the same quarter last year, the firm earned $2.09 EPS. Marriott International’s revenue for the quarter was up 6.4% compared to the same quarter last year. On average, equities research analysts predict that Marriott International will post 9.56 earnings per share for the current fiscal year.
Marriott International Increases Dividend
Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on MAR. Wells Fargo & Company cut their target price on Marriott International from $250.00 to $248.00 and set an equal weight rating for the company in a research report on Thursday, May 2nd. Susquehanna initiated coverage on shares of Marriott International in a research note on Friday, June 21st. They set a neutral rating and a $255.00 price objective on the stock. Barclays boosted their target price on shares of Marriott International from $240.00 to $251.00 and gave the company an equal weight rating in a research report on Wednesday, July 17th. Mizuho increased their price target on shares of Marriott International from $260.00 to $265.00 and gave the stock a neutral rating in a research report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Marriott International from $235.00 to $255.00 and gave the company a neutral rating in a research report on Friday, July 19th. Thirteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Marriott International currently has an average rating of Hold and a consensus price target of $243.59.
Read Our Latest Research Report on MAR
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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