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

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

Marriott International Price Performance

NASDAQ:MAR traded down $0.97 during mid-day trading on Friday, reaching $234.59. The stock had a trading volume of 1,572,856 shares, compared to its average volume of 1,539,790. Marriott International has a 1-year low of $165.13 and a 1-year high of $260.57. The company has a market capitalization of $67.00 billion, a price-to-earnings ratio of 24.21, a price-to-earnings-growth ratio of 5.24 and a beta of 1.61. The stock’s 50 day simple moving average is $247.40 and its two-hundred day simple moving average is $228.39.

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

Marriott International Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Argus lifted their price objective on shares of Marriott International from $270.00 to $280.00 and gave the company a buy rating in a research report on Tuesday, March 19th. Barclays lifted their target price on Marriott International from $239.00 to $240.00 and gave the company an equal weight rating in a research note on Friday, April 19th. Truist Financial increased their price target on Marriott International from $233.00 to $263.00 and gave the stock a hold rating in a research note on Wednesday, February 14th. UBS Group upped their price objective on shares of Marriott International from $210.00 to $259.00 and gave the stock a neutral rating in a report on Wednesday, February 28th. Finally, Mizuho boosted their price target on shares of Marriott International from $260.00 to $265.00 and gave the stock a neutral rating in a research report on Thursday. Eleven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Marriott International presently has a consensus rating of Hold and an average target price of $241.33.

Insiders Place Their Bets

In other Marriott International news, Director Eric Hippeau sold 2,600 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $237.40, for a total transaction of $617,240.00. Following the sale, the director now directly owns 1,472 shares of the company’s stock, valued at approximately $349,452.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP Rena Hozore Reiss sold 3,563 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $240.39, for a total transaction of $856,509.57. Following the completion of the sale, the executive vice president now directly owns 36,778 shares of the company’s stock, valued at approximately $8,841,063.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eric Hippeau sold 2,600 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $237.40, for a total transaction of $617,240.00. Following the transaction, the director now directly owns 1,472 shares in the company, valued at $349,452.80. The disclosure for this sale can be found here. Insiders sold a total of 125,003 shares of company stock worth $30,435,493 over the last ninety days. 12.32% of the stock is currently owned by company 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.