Zacks Investment Research lowered shares of Marriott International (NASDAQ:MAR) from a buy rating to a hold rating in a report released on Tuesday.
According to Zacks, “Shares of Marriott have outperformed the industry in a year’s time primarily owing to impressive bottom-line performance. In fact, Marriott’s earnings topped the consensus mark for the 16 straight quarters. Additionally, the company seems to be benefiting from Starwood acquisition, sizeable international exposure and an attractive brand-position. Also, strong RevPAR gains and room growth drove the company’s quarterly results. Marriott anticipates earnings in the band of $5.81-$5.91 per share, up from the prior guidance of $5.43-$5.55. Meanwhile, the company is consistently trying to expand its presence worldwide and capitalize on the demand for hotels in international markets. It is very optimistic about growth opportunity in India. However, the company’s lower-than-expected top-line performances over the past two quarters have been a cause for concern.”
Several other analysts have also weighed in on the company. BidaskClub raised Marriott International from a sell rating to a hold rating in a report on Tuesday, September 11th. Jefferies Financial Group reaffirmed a hold rating and issued a $134.00 price target on shares of Marriott International in a research note on Wednesday, August 8th. Morgan Stanley lowered Marriott International from an overweight rating to an equal rating and set a $129.00 price target on the stock. in a research note on Tuesday, July 24th. SunTrust Banks reaffirmed a hold rating and issued a $136.00 price target on shares of Marriott International in a research note on Thursday, August 9th. Finally, Longbow Research started coverage on Marriott International in a research note on Friday, September 7th. They issued a buy rating and a $156.00 price target on the stock. One analyst has rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company. Marriott International presently has an average rating of Hold and a consensus target price of $144.75.
Shares of NASDAQ:MAR opened at $117.49 on Tuesday. Marriott International has a 1-year low of $113.82 and a 1-year high of $149.21. The company has a market cap of $45.81 billion, a PE ratio of 26.83, a PEG ratio of 1.94 and a beta of 1.33. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 2.95.
Marriott International (NASDAQ:MAR) last announced its quarterly earnings data on Monday, August 6th. The company reported $1.73 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.36 by $0.37. Marriott International had a return on equity of 52.81% and a net margin of 7.31%. The company had revenue of $5.35 billion for the quarter, compared to analyst estimates of $5.90 billion. During the same quarter last year, the firm earned $1.13 EPS. Marriott International’s revenue for the quarter was up 2.6% compared to the same quarter last year. Research analysts expect that Marriott International will post 5.88 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 28th. Investors of record on Thursday, August 23rd were paid a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 1.40%. The ex-dividend date was Wednesday, August 22nd. Marriott International’s dividend payout ratio is 37.61%.
In other Marriott International news, Director Frederick A. Henderson acquired 1,640 shares of the business’s stock in a transaction on Thursday, August 9th. The stock was purchased at an average price of $120.84 per share, for a total transaction of $198,177.60. Following the transaction, the director now owns 1,640 shares in the company, valued at approximately $198,177.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 12.99% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Sun Life Financial INC raised its position in shares of Marriott International by 331.6% during the second quarter. Sun Life Financial INC now owns 807 shares of the company’s stock worth $102,000 after acquiring an additional 620 shares during the last quarter. Centaurus Financial Inc. bought a new stake in shares of Marriott International during the second quarter worth $102,000. Fort L.P. bought a new stake in shares of Marriott International during the second quarter worth $114,000. Tortoise Investment Management LLC bought a new stake in shares of Marriott International during the second quarter worth $155,000. Finally, Quad Capital Management Advisors LLC bought a new stake in shares of Marriott International during the first quarter worth $208,000. Hedge funds and other institutional investors own 61.81% of the company’s stock.
About Marriott International
Marriott International, Inc operates, franchises, and licenses hotel, residential, and timeshare properties worldwide. The company operates through three segments: North American Full-Service, North American Limited-Service, and Asia Pacific. It operates its properties under the JW Marriott, The Ritz-Carlton, W Hotels, The Luxury Collection, St.
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