Marriott International (NASDAQ:MAR) Issues 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.

Analysts Set New Price Targets

A number of research firms recently weighed in on MAR. Wells Fargo & Company decreased their price objective on Marriott International from $250.00 to $248.00 and set an equal weight rating for the company in a report on Thursday, May 2nd. Susquehanna initiated coverage on shares of Marriott International in a research report on Friday, June 21st. They set a neutral rating and a $255.00 price target on the stock. Robert W. Baird increased their price objective on shares of Marriott International from $248.00 to $250.00 and gave the stock a neutral rating in a research report on Thursday, May 2nd. Mizuho boosted their price target on shares of Marriott International from $260.00 to $265.00 and gave the stock a neutral rating in a research note on Thursday, May 2nd. Finally, JPMorgan Chase & Co. raised their price target on Marriott International from $235.00 to $255.00 and gave the stock a neutral rating in a research note on Friday, July 19th. Thirteen research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Hold and an average price target of $243.59.

Marriott International Trading Down 5.5 %

Marriott International stock traded down $13.03 during midday trading on Wednesday, hitting $225.74. The stock had a trading volume of 362,592 shares, compared to its average volume of 1,439,018. Marriott International has a 52-week low of $180.75 and a 52-week high of $260.57. The company has a market capitalization of $64.48 billion, a PE ratio of 24.64, a P/E/G ratio of 4.49 and a beta of 1.60. The firm’s fifty day moving average is $238.87 and its two-hundred day moving average is $242.14.

Marriott International (NASDAQ:MAR) last released its earnings results 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 business had revenue of $5.98 billion during the quarter, compared to analysts’ expectations of $5.95 billion. Marriott International had a negative return on equity of 376.88% and a net margin of 12.00%. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.09 EPS. As a group, equities research analysts predict that Marriott International will post 9.56 earnings per share for the current fiscal year.

Marriott International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, May 24th were issued a dividend of $0.63 per share. This is an increase from Marriott International’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.12%. Marriott International’s payout ratio is 26.01%.

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.