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

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

Analyst Ratings Changes

MAR has been the topic of a number of recent analyst reports. Barclays boosted their target price on Marriott International from $239.00 to $240.00 and gave the stock an equal weight rating in a research report on Friday, April 19th. Mizuho raised their target price on shares of Marriott International from $260.00 to $265.00 and gave the stock a neutral rating in a report on Thursday. BMO Capital Markets upped their price target on shares of Marriott International from $235.00 to $240.00 and gave the company a market perform rating in a research report on Thursday. Wells Fargo & Company lowered their price objective on shares of Marriott International from $250.00 to $248.00 and set an equal weight rating on the stock in a research report on Thursday. Finally, Truist Financial raised their target price on Marriott International from $233.00 to $263.00 and gave the company a hold rating in a report on Wednesday, February 14th. Eleven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $241.33.

Marriott International Stock Down 0.4 %

NASDAQ:MAR traded down $0.97 during trading hours 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. Marriott International has a one year low of $165.13 and a one year high of $260.57. The stock has a 50-day moving average of $247.40 and a two-hundred day moving average of $228.39. The firm has a market capitalization of $67.00 billion, a PE ratio of 24.21, a PEG ratio of 5.24 and a beta of 1.61.

Marriott International (NASDAQ:MAR) last released 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 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 quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.09 earnings per share. As a group, sell-side analysts expect that Marriott International will post 9.49 earnings per share for the current year.

Marriott International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, February 22nd were paid a $0.52 dividend. 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 is currently 21.47%.

Insider Activity

In other Marriott International news, EVP Rena Hozore Reiss sold 3,563 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $240.39, for a total transaction of $856,509.57. Following the sale, the executive vice president now owns 36,778 shares of the company’s stock, valued at approximately $8,841,063.42. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Kathleen K. Oberg sold 47,109 shares of Marriott International stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $242.71, for a total value of $11,433,825.39. Following the completion of the sale, the chief financial officer now directly owns 20,036 shares of the company’s stock, valued at approximately $4,862,937.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Rena Hozore Reiss sold 3,563 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $240.39, for a total value of $856,509.57. Following the transaction, the executive vice president now directly owns 36,778 shares in the company, valued at approximately $8,841,063.42. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 125,003 shares of company stock worth $30,435,493. 12.32% of the stock is 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.