Marriott International (NASDAQ:MAR) Updates FY 2024 Earnings Guidance

Marriott International (NASDAQ:MAR) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 9.230-9.400 for the period, compared to the consensus earnings per share estimate of 9.500. The company issued revenue guidance of -. Marriott International also updated its FY24 guidance to $9.23-9.40 EPS.

Marriott International Stock Down 2.3 %

Shares of MAR traded down $5.11 during trading on Friday, reaching $213.67. The company’s stock had a trading volume of 3,679,065 shares, compared to its average volume of 1,579,860. The company has a fifty day moving average of $237.97 and a two-hundred day moving average of $241.90. Marriott International has a twelve month low of $180.75 and a twelve month high of $260.57. The company has a market cap of $60.15 billion, a price-to-earnings ratio of 22.05, a P/E/G ratio of 4.24 and a beta of 1.60.

Marriott International (NASDAQ:MAR) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.49 by $0.01. Marriott International had a negative return on equity of 239.60% and a net margin of 12.01%. The business had revenue of $6.44 billion during the quarter, compared to the consensus estimate of $6.47 billion. During the same period in the previous year, the business earned $2.26 EPS. The business’s quarterly revenue was up 6.0% on a year-over-year basis. As a group, equities analysts forecast that Marriott International will post 9.29 EPS for the current fiscal year.

Marriott International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, August 16th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.18%. Marriott International’s dividend payout ratio (DPR) is 26.01%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on MAR shares. BMO Capital Markets boosted their price target on Marriott International from $235.00 to $240.00 and gave the company a market perform rating in a report on Thursday, May 2nd. Wells Fargo & Company lowered their price objective on Marriott International from $248.00 to $238.00 and set an equal weight rating for the company in a research note on Thursday. Susquehanna initiated coverage on Marriott International in a research note on Friday, June 21st. They set a neutral rating and a $255.00 price objective for the company. JPMorgan Chase & Co. upped their price objective on Marriott International from $235.00 to $255.00 and gave the stock a neutral rating in a research note on Friday, July 19th. Finally, Mizuho upped their price objective on Marriott International from $260.00 to $265.00 and gave the stock a neutral rating in a research note on Thursday, May 2nd. Fifteen research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Marriott International presently has an average rating of Hold and a consensus target price of $241.42.

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.