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

Marriott International (NASDAQ:MAR) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of 9.190-9.270 for the period, compared to the consensus estimate of 9.360. The company issued revenue guidance of -. Marriott International also updated its Q4 guidance to $2.31-2.39 EPS.

Marriott International Price Performance

Marriott International stock opened at $256.25 on Monday. The business has a 50 day simple moving average of $247.14 and a 200-day simple moving average of $239.13. Marriott International has a 12 month low of $189.34 and a 12 month high of $266.58. The stock has a market capitalization of $72.14 billion, a PE ratio of 26.06, a price-to-earnings-growth ratio of 6.23 and a beta of 1.58.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on MAR. Truist Financial lowered their target price on shares of Marriott International from $263.00 to $254.00 and set a “hold” rating on the stock in a report on Tuesday, August 6th. Bank of America lifted their price objective on Marriott International from $275.00 to $300.00 and gave the company a “buy” rating in a report on Monday, October 21st. BMO Capital Markets raised their price target on Marriott International from $240.00 to $255.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft dropped their price objective on Marriott International from $222.00 to $216.00 and set a “hold” rating on the stock in a report on Thursday, August 1st. Finally, Evercore ISI boosted their target price on shares of Marriott International from $245.00 to $270.00 and gave the stock an “in-line” rating in a research report on Monday, October 21st. Thirteen equities 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, Marriott International has a consensus rating of “Hold” and a consensus price target of $256.39.

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, City Express by Marriott, and St.