Marriott International (NASDAQ:MAR) Updates Q3 2024 Earnings Guidance

Marriott International (NASDAQ:MAR) updated its third quarter 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 2.270-2.330 for the period, compared to the consensus earnings per share estimate of 2.380. The company issued revenue guidance of -. Marriott International also updated its FY 2024 guidance to 9.230-9.400 EPS.

Marriott International Stock Down 2.3 %

Marriott International stock traded down $5.11 during trading on Friday, reaching $213.67. The stock had a trading volume of 3,679,065 shares, compared to its average volume of 1,579,860. Marriott International has a 52-week low of $180.75 and a 52-week high of $260.57. The business has a 50 day moving average price of $237.97 and a 200 day moving average price of $241.90. The stock has a market cap of $60.15 billion, a PE ratio of 22.05, a P/E/G ratio of 4.24 and a beta of 1.60.

Marriott International (NASDAQ:MAR) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.49 by $0.01. Marriott International had a net margin of 12.01% and a negative return on equity of 239.60%. The company had revenue of $6.44 billion during the quarter, compared to the consensus estimate of $6.47 billion. During the same quarter in the previous year, the firm earned $2.26 earnings per share. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. On average, equities analysts predict that Marriott International will post 9.29 EPS for the current fiscal year.

Marriott International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, August 16th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 1.18%. Marriott International’s dividend payout ratio is currently 26.01%.

Wall Street Analyst Weigh In

MAR has been the subject of several recent analyst reports. Mizuho boosted their price objective on shares of Marriott International from $260.00 to $265.00 and gave the stock a neutral rating in a research report on Thursday, May 2nd. Wells Fargo & Company reduced their price objective on shares of Marriott International from $248.00 to $238.00 and set an equal weight rating for the company in a research report on Thursday. Robert W. Baird reduced their price objective on shares of Marriott International from $252.00 to $245.00 and set a neutral rating for the company in a research report on Thursday. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Marriott International from $222.00 to $216.00 and set a hold rating for the company in a research report on Thursday. Finally, Macquarie restated a neutral rating and set a $245.00 price objective on shares of Marriott International in a research report on Friday. Fifteen equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Hold and an average target price of $241.42.

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.