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

Marriott International (NASDAQ:MAR) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 9.310-9.650 for the period, compared to the consensus estimate of 9.440. The company issued revenue guidance of -. Marriott International also updated its FY24 guidance to $9.31-9.65 EPS.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Barclays upped their target price on Marriott International from $239.00 to $240.00 and gave the company an equal weight rating in a research report on Friday, April 19th. Robert W. Baird upped their target price on Marriott International from $248.00 to $250.00 and gave the company a neutral rating in a research report on Thursday. Wells Fargo & Company cut their target price on Marriott International from $250.00 to $248.00 and set an equal weight rating on the stock in a research report on Thursday. BMO Capital Markets upped their target price on Marriott International from $235.00 to $240.00 and gave the company a market perform rating in a research report on Thursday. Finally, Mizuho boosted their price target on Marriott International from $260.00 to $265.00 and gave the company a neutral rating in a report on Thursday. Eleven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $241.33.

Marriott International Trading Down 0.4 %

MAR traded down $0.97 during trading on Friday, reaching $234.59. 1,572,856 shares of the company were exchanged, compared to its average volume of 1,539,790. The stock has a market cap of $67.00 billion, a P/E ratio of 24.21, a PEG ratio of 5.24 and a beta of 1.61. The firm has a 50 day moving average of $247.40 and a 200 day moving average of $228.39. Marriott International has a 52 week low of $165.13 and a 52 week high of $260.57.

Marriott International (NASDAQ:MAR) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). The company had revenue of $5.98 billion for the quarter, compared to the consensus estimate of $5.95 billion. Marriott International had a negative return on equity of 376.88% and a net margin of 12.00%. Marriott International’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.09 earnings per share. As a group, analysts forecast that Marriott International will post 9.49 earnings per share for the current fiscal year.

Marriott International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, February 22nd were paid a $0.52 dividend. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $2.08 annualized dividend and a dividend yield of 0.89%. Marriott International’s payout ratio is 21.47%.

Insider Transactions at Marriott International

In other news, Director Eric Hippeau sold 1,400 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $251.19, for a total value of $351,666.00. Following the completion of the transaction, the director now owns 72 shares of the company’s stock, valued at $18,085.68. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Anthony Capuano sold 20,000 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $248.48, for a total value of $4,969,600.00. Following the completion of the sale, the chief executive officer now owns 93,323 shares in the company, valued at $23,188,899.04. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Eric Hippeau sold 1,400 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $251.19, for a total value of $351,666.00. Following the completion of the sale, the director now owns 72 shares of the company’s stock, valued at approximately $18,085.68. The disclosure for this sale can be found here. Over the last quarter, insiders sold 125,003 shares of company stock valued at $30,435,493. 12.32% of the stock is currently owned by corporate insiders.

Marriott International Company Profile

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.