Marriott International (NASDAQ:MAR) Issues Q2 2024 Earnings Guidance

Marriott International (NASDAQ:MAR) issued an update on its second quarter 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 2.430-2.480 for the period, compared to the consensus EPS estimate of 2.510. The company issued revenue guidance of -. Marriott International also updated its FY 2024 guidance to 9.310-9.650 EPS.

Marriott International Stock Down 0.4 %

Shares of NASDAQ:MAR traded down $0.97 during midday trading on Friday, reaching $234.59. The company had a trading volume of 1,572,856 shares, compared to its average volume of 1,539,790. The business’s 50 day moving average price is $247.40 and its 200 day moving average price is $228.39. The stock has a market cap of $67.00 billion, a PE ratio of 24.21, a P/E/G ratio of 5.24 and a beta of 1.61. Marriott International has a 1-year low of $165.13 and a 1-year high of $260.57.

Marriott International (NASDAQ:MAR) last released its earnings results on Wednesday, May 1st. The company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). The company had revenue of $5.98 billion during the quarter, compared to analyst estimates of $5.95 billion. Marriott International had a net margin of 12.00% and a negative return on equity of 376.88%. Marriott International’s revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.09 EPS. On average, research analysts expect that Marriott International will post 9.49 earnings per share for the current fiscal year.

Marriott International Dividend Announcement

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

Analyst Ratings Changes

MAR has been the topic of a number of recent analyst reports. Argus boosted their price target on Marriott International from $270.00 to $280.00 and gave the stock a buy rating in a research report on Tuesday, March 19th. 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. UBS Group upped their target price on Marriott International from $210.00 to $259.00 and gave the company a neutral rating in a research report on Wednesday, February 28th. 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 upped their target price on Marriott International from $260.00 to $265.00 and gave the company a neutral rating in a research report on Thursday. Eleven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $241.33.

Insiders Place Their Bets

In other Marriott International news, Director Eric Hippeau sold 1,400 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $251.19, for a total transaction of $351,666.00. Following the completion of the sale, the director now directly owns 72 shares in the company, valued at $18,085.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related 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 sale, the director now directly owns 72 shares in the company, valued at $18,085.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Anthony Capuano sold 20,000 shares of the stock in a transaction on Thursday, February 22nd. The shares were 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 of the company’s stock, valued at $23,188,899.04. The disclosure for this sale can be found here. Insiders sold 125,003 shares of company stock worth $30,435,493 over the last three months. Insiders own 12.32% of the company’s stock.

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.