Marriott International (NASDAQ:MAR) Updates Q3 Earnings Guidance

Marriott International (NASDAQ:MAR) updated its third quarter earnings guidance on Monday. The company provided earnings per share guidance of $0.96-0.99 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.01. Marriott International also updated its FY17 guidance to $4.06-4.18 EPS.

A number of brokerages recently commented on MAR. Zacks Investment Research cut Marriott International from a buy rating to a hold rating in a research report on Monday, May 29th. Stifel Nicolaus lifted their target price on Marriott International from $95.00 to $98.00 and gave the company a hold rating in a research report on Tuesday, August 8th. Robert W. Baird lifted their target price on Marriott International from $101.00 to $103.00 and gave the company a neutral rating in a research report on Tuesday, August 8th. BidaskClub upgraded Marriott International from a buy rating to a strong-buy rating in a research report on Tuesday, August 8th. Finally, J P Morgan Chase & Co reissued an overweight rating and set a $111.00 price target on shares of Marriott International in a research note on Friday, May 12th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have issued a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $100.08.

Shares of Marriott International (NASDAQ MAR) traded up 0.19% during midday trading on Friday, reaching $98.03. The company had a trading volume of 1,581,465 shares. The company has a market capitalization of $36.51 billion, a P/E ratio of 32.17 and a beta of 1.36. Marriott International has a one year low of $65.91 and a one year high of $110.51. The company has a 50-day moving average price of $101.81 and a 200 day moving average price of $96.79.

Marriott International (NASDAQ:MAR) last posted its earnings results on Monday, August 7th. The company reported $1.13 EPS for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.11. Marriott International had a return on equity of 26.26% and a net margin of 5.27%. The business had revenue of $5.80 billion during the quarter, compared to analyst estimates of $5.73 billion. During the same quarter last year, the company earned $1.03 EPS. The company’s quarterly revenue was up 48.5% compared to the same quarter last year. Equities analysts anticipate that Marriott International will post $4.14 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Thursday, August 24th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.35%. The ex-dividend date is Tuesday, August 22nd. Marriott International’s payout ratio is currently 45.52%.

In related news, Director Mary K. Bush sold 1,200 shares of Marriott International stock in a transaction on Friday, June 30th. The stock was sold at an average price of $100.89, for a total value of $121,068.00. Following the completion of the sale, the director now owns 1,101 shares of the company’s stock, valued at $111,079.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David Grissen sold 2,589 shares of Marriott International stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $105.66, for a total value of $273,553.74. Following the transaction, the insider now owns 45,201 shares in the company, valued at $4,775,937.66. The disclosure for this sale can be found here. Insiders sold 62,622 shares of company stock valued at $6,328,408 in the last ninety days. 17.07% of the stock is currently owned by corporate insiders.

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Marriott International Company Profile

Marriott International, Inc (Marriott International) is a lodging company. Marriott International operates in three business segments: North American Full-Service, North American Limited-Service and International. Its North American Full-Service segment includes its Luxury and Premium brands (JW Marriott, Marriott Hotels, Sheraton, Westin, Renaissance Hotels, Le Meridien, Autograph Collection Hotels, Delta Hotels, Gaylord Hotels, and Tribute Portfolio) located in the United States and Canada.

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