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

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

Wall Street Analysts Forecast Growth

MAR has been the topic of several analyst reports. Argus boosted their price objective on shares of Marriott International from $270.00 to $280.00 and gave the stock a buy rating in a research note on Tuesday, March 19th. UBS Group increased their price target on Marriott International from $210.00 to $259.00 and gave the company a neutral rating in a research note on Wednesday, February 28th. Mizuho lifted their price objective on Marriott International from $260.00 to $265.00 and gave the stock a neutral rating in a research note on Thursday. Truist Financial increased their target price 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. Finally, Barclays boosted their price target on shares of Marriott International from $239.00 to $240.00 and gave the stock an equal weight rating in a research report on Friday, April 19th. Eleven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Marriott International presently has a consensus rating of Hold and an average price target of $241.33.

Marriott International Trading Down 0.4 %

NASDAQ MAR traded down $0.97 during mid-day trading on Friday, hitting $234.59. The company’s stock had a trading volume of 1,572,856 shares, compared to its average volume of 1,539,790. The company’s 50 day simple moving average is $247.40 and its 200 day simple moving average is $228.39. Marriott International has a twelve month low of $165.13 and a twelve month high of $260.57. The firm has a market capitalization of $67.00 billion, a price-to-earnings ratio of 24.21, a PEG ratio of 5.24 and a beta of 1.61.

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

Marriott International Announces Dividend

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

Insider Buying and Selling at Marriott International

In other Marriott International news, CEO Anthony Capuano sold 20,000 shares of the company’s stock in a transaction dated 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 directly owns 93,323 shares of the company’s stock, valued at approximately $23,188,899.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Anthony Capuano sold 20,000 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $248.48, for a total transaction of $4,969,600.00. Following the completion of the sale, the chief executive officer now directly owns 93,323 shares of the company’s stock, valued at approximately $23,188,899.04. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Kathleen K. Oberg sold 47,109 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $242.71, for a total transaction of $11,433,825.39. Following the transaction, the chief financial officer now owns 20,036 shares of the company’s stock, valued at approximately $4,862,937.56. The disclosure for this sale can be found here. In the last three months, insiders have sold 125,003 shares of company stock worth $30,435,493. Corporate 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.