Marriott International (NASDAQ:MAR) Updates Q4 Earnings Guidance

Marriott International (NASDAQ:MAR) issued an update on its fourth quarter earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $2.31-2.39 for the period, compared to the consensus estimate of $2.42. Marriott International also updated its FY 2024 guidance to 9.190-9.270 EPS.

Marriott International Stock Performance

Shares of MAR stock traded up $0.55 during mid-day trading on Thursday, reaching $276.81. 411,992 shares of the company’s stock traded hands, compared to its average volume of 1,468,935. Marriott International has a 12 month low of $192.04 and a 12 month high of $277.41. The firm has a 50 day moving average price of $249.39 and a two-hundred day moving average price of $239.69. The firm has a market capitalization of $77.93 billion, a PE ratio of 28.90, a price-to-earnings-growth ratio of 6.21 and a beta of 1.58.

Marriott International (NASDAQ:MAR) last announced its quarterly earnings results on Monday, November 4th. The company reported $2.26 EPS for the quarter, missing the consensus estimate of $2.31 by ($0.05). The company had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $6.27 billion. Marriott International had a negative return on equity of 207.04% and a net margin of 11.18%. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.11 EPS. As a group, equities analysts expect that Marriott International will post 9.27 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Morgan Stanley cut their target price on shares of Marriott International from $268.00 to $250.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Barclays increased their price objective on shares of Marriott International from $240.00 to $249.00 and gave the company an “equal weight” rating in a research report on Tuesday. Sanford C. Bernstein increased their target price on shares of Marriott International from $262.00 to $290.00 and gave the company an “outperform” rating in a research report on Tuesday. Truist Financial reduced their target price on shares of Marriott International from $263.00 to $254.00 and set a “hold” rating for the company in a research note on Tuesday, August 6th. Finally, Wells Fargo & Company lifted their price target on shares of Marriott International from $238.00 to $261.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 22nd. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $259.00.

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, City Express by Marriott, and St.