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

Marriott International (NASDAQ:MAR) updated its second quarter 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 2.430-2.480 for the period, compared to the consensus 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

A number of research analysts have commented on the company. Mizuho reduced their price objective on Marriott International from $263.00 to $260.00 and set a neutral rating on the stock in a research note on Tuesday, April 23rd. Barclays boosted their price target on Marriott International from $239.00 to $240.00 and gave the stock an equal weight rating in a research note on Friday, April 19th. Wells Fargo & Company boosted their price target on Marriott International from $234.00 to $250.00 and gave the stock an equal weight rating in a research note on Monday, March 18th. Argus boosted their price objective on Marriott International from $270.00 to $280.00 and gave the company a buy rating in a report on Tuesday, March 19th. Finally, BMO Capital Markets boosted their price objective on Marriott International from $230.00 to $235.00 and gave the company a market perform rating in a report on Wednesday, February 14th. Eleven analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $236.69.

Marriott International Stock Down 1.5 %

MAR stock traded down $3.60 during mid-day trading on Wednesday, reaching $232.53. 416,199 shares of the stock traded hands, compared to its average volume of 1,433,841. The business has a 50-day moving average of $248.20 and a two-hundred day moving average of $228.04. Marriott International has a 52 week low of $165.13 and a 52 week high of $260.57. The firm has a market capitalization of $67.19 billion, a PE ratio of 23.17, a P/E/G ratio of 5.36 and a beta of 1.62.

Marriott International (NASDAQ:MAR) last posted its quarterly earnings results on Tuesday, February 13th. The company reported $3.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $1.45. The firm had revenue of $6.10 billion during the quarter, compared to analyst estimates of $6.20 billion. Marriott International had a net margin of 13.00% and a negative return on equity of 848.49%. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.96 earnings per share. On average, equities research analysts anticipate that Marriott International will post 9.46 EPS for the current fiscal 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 $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend was Wednesday, February 21st. Marriott International’s dividend payout ratio is currently 20.41%.

Insider Buying and Selling at Marriott International

In other news, CEO Anthony Capuano sold 20,000 shares of Marriott International stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $248.48, for a total transaction of $4,969,600.00. Following the transaction, the chief executive officer now directly owns 93,323 shares of the company’s stock, valued at $23,188,899.04. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Marriott International news, Director Eric Hippeau sold 1,400 shares of Marriott International stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $251.19, for a total value of $351,666.00. Following the sale, the director now directly owns 72 shares in the company, valued at approximately $18,085.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Anthony Capuano sold 20,000 shares of Marriott International stock in a transaction on Thursday, February 22nd. The shares were 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 owns 93,323 shares in the company, valued at $23,188,899.04. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 125,003 shares of company stock valued at $30,435,493. 12.32% of the stock is currently owned by insiders.

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.