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

Marriott International (NASDAQ:MAR) updated its second quarter 2024 earnings guidance on Wednesday. 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 Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. UBS Group boosted their price target on shares of Marriott International from $210.00 to $259.00 and gave the company a neutral rating in a research report on Wednesday, February 28th. Truist Financial boosted their price target on shares of Marriott International from $233.00 to $263.00 and gave the company a hold rating in a research report on Wednesday, February 14th. Barclays boosted their price target on shares of Marriott International from $239.00 to $240.00 and gave the company an equal weight rating in a research report on Friday, April 19th. BMO Capital Markets upped their price objective on shares of Marriott International from $235.00 to $240.00 and gave the stock a market perform rating in a report on Thursday. Finally, Mizuho upped their price objective on shares of Marriott International from $260.00 to $265.00 and gave the stock a neutral rating in a report on Thursday. Eleven research 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 company currently has a consensus rating of Hold and a consensus target price of $241.33.

Marriott International Stock Down 0.4 %

Shares of NASDAQ MAR traded down $0.97 during midday trading on Friday, hitting $234.59. The stock 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 is $247.40 and its 200-day moving average is $228.39. The company 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. 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 earnings per share 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 net margin of 12.00% and a negative return on equity of 376.88%. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter last year, the company earned $2.09 EPS. As a group, analysts expect that Marriott International will post 9.49 EPS for the current fiscal year.

Marriott International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors 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 yield of 0.89%. Marriott International’s dividend payout ratio (DPR) is 21.47%.

Insider Buying and Selling at Marriott International

In other Marriott International news, EVP Rena Hozore Reiss sold 3,563 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were 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 $8,841,063.42. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Marriott International news, insider Satyajit Anand sold 2,749 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $251.93, for a total transaction of $692,555.57. Following the completion of the sale, the insider now directly owns 24,478 shares of the company’s stock, valued at $6,166,742.54. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Rena Hozore Reiss sold 3,563 shares of the stock in a transaction on 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 $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 valued at $30,435,493. Insiders own 12.32% of the company’s stock.

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.