Marriott International (NASDAQ:MAR) had its price target increased by Robert W. Baird from $111.00 to $115.00 in a research report sent to investors on Friday. Robert W. Baird currently has a neutral rating on the stock.
Several other research analysts have also recently issued reports on the stock. Zacks Investment Research raised shares of Marriott International from a hold rating to a buy rating and set a $130.00 target price for the company in a report on Thursday, October 26th. Wolfe Research raised shares of Marriott International from a market perform rating to an outperform rating in a report on Wednesday, August 30th. BidaskClub cut shares of Marriott International from a strong-buy rating to a buy rating in a report on Thursday, October 5th. Stifel Nicolaus reissued a hold rating and set a $98.00 target price on shares of Marriott International in a report on Thursday, October 12th. Finally, Royal Bank Of Canada reissued a buy rating on shares of Marriott International in a report on Tuesday, November 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $106.64.
Marriott International (NASDAQ MAR) traded up $2.32 during trading hours on Friday, hitting $122.71. 843,000 shares of the stock traded hands, compared to its average volume of 2,456,233. Marriott International has a 1-year low of $73.46 and a 1-year high of $124.34. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.83. The firm has a market capitalization of $43,789.86, a P/E ratio of 29.37, a P/E/G ratio of 3.00 and a beta of 1.34.
Marriott International (NASDAQ:MAR) last posted its quarterly earnings data on Tuesday, November 7th. The company reported $1.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.12. Marriott International had a net margin of 6.30% and a return on equity of 31.58%. The business had revenue of $5.66 billion during the quarter, compared to the consensus estimate of $5.22 billion. During the same period in the previous year, the firm posted $0.91 earnings per share. The business’s revenue for the quarter was up 43.7% compared to the same quarter last year. research analysts forecast that Marriott International will post 4.24 earnings per share for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Wednesday, November 22nd will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, November 21st. This represents a $1.32 dividend on an annualized basis and a yield of 1.08%. Marriott International’s payout ratio is presently 35.87%.
Marriott International declared that its board has authorized a stock repurchase plan on Thursday, November 9th that permits the company to repurchase 30,000,000 outstanding shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
In other Marriott International news, EVP Edward A. Ryan sold 4,453 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $103.81, for a total value of $462,265.93. Following the transaction, the executive vice president now directly owns 80,406 shares in the company, valued at approximately $8,346,946.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Deborah Marriott Harrison sold 130,000 shares of the business’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $119.17, for a total transaction of $15,492,100.00. Following the completion of the transaction, the insider now owns 114,155 shares in the company, valued at $13,603,851.35. The disclosure for this sale can be found here. Insiders sold a total of 202,327 shares of company stock worth $22,992,216 over the last quarter. 11.32% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in MAR. Advisory Services Network LLC raised its stake in shares of Marriott International by 1,490.1% in the 2nd quarter. Advisory Services Network LLC now owns 1,129 shares of the company’s stock valued at $113,000 after acquiring an additional 1,058 shares during the period. Oppenheimer Asset Management Inc. purchased a new stake in shares of Marriott International in the 1st quarter valued at approximately $115,000. Baker Ellis Asset Management LLC purchased a new stake in shares of Marriott International in the 2nd quarter valued at approximately $133,000. First Quadrant L P CA purchased a new stake in shares of Marriott International in the 3rd quarter valued at approximately $136,000. Finally, Grove Bank & Trust raised its stake in shares of Marriott International by 214.8% in the 3rd quarter. Grove Bank & Trust now owns 1,231 shares of the company’s stock valued at $136,000 after acquiring an additional 840 shares during the period. 65.88% of the stock is currently owned by institutional investors and hedge funds.
About Marriott International
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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