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 guidance of 9.310-9.650 for the period, compared to the consensus earnings per share 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

Several equities research analysts have commented on MAR shares. UBS Group boosted their price target on shares of Marriott International from $210.00 to $259.00 and gave the stock a neutral rating in a research report on Wednesday, February 28th. Wells Fargo & Company reduced their price target on Marriott International from $250.00 to $248.00 and set an equal weight rating for the company in a research report on Thursday. Truist Financial boosted their price target on Marriott International from $233.00 to $263.00 and gave the stock a hold rating in a research report on Wednesday, February 14th. Robert W. Baird boosted their target price on shares of Marriott International from $248.00 to $250.00 and gave the stock a neutral rating in a report on Thursday. Finally, BMO Capital Markets upped their price target on shares of Marriott International from $235.00 to $240.00 and gave the stock a market perform rating in a report on Thursday. Eleven research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $241.33.

Marriott International Stock Down 0.4 %

MAR traded down $0.97 during trading on Friday, reaching $234.59. 1,572,856 shares of the stock traded hands, compared to its average volume of 1,539,790. The stock has a market capitalization of $67.00 billion, a PE ratio of 24.21, a P/E/G ratio of 5.24 and a beta of 1.61. The stock’s 50-day moving average is $247.40 and its 200 day moving average is $228.39. Marriott International has a 12 month low of $165.13 and a 12 month high of $260.57.

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

Marriott International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, February 22nd were given a dividend of $0.52 per share. The ex-dividend date was Wednesday, February 21st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.89%. Marriott International’s dividend payout ratio (DPR) is presently 21.47%.

Insider Transactions at Marriott International

In related news, insider Deborah Marriott Harrison sold 37,300 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $241.46, for a total value of $9,006,458.00. Following the transaction, the insider now owns 9,100 shares of the company’s stock, valued at approximately $2,197,286. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Satyajit Anand sold 2,749 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $251.93, for a total value of $692,555.57. Following the transaction, the insider now owns 24,478 shares of the company’s stock, valued at approximately $6,166,742.54. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Deborah Marriott Harrison sold 37,300 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $241.46, for a total transaction of $9,006,458.00. Following the completion of the transaction, the insider now directly owns 9,100 shares in the company, valued at approximately $2,197,286. The disclosure for this sale can be found here. Insiders have sold 125,003 shares of company stock valued at $30,435,493 in the last 90 days. 12.32% of the stock is currently owned by corporate insiders.

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, and City Express by Marriott brand names, as well as operates residences, timeshares, and yachts.