Marriott International (NASDAQ:MAR) Releases Q3 Earnings Guidance

Marriott International (NASDAQ:MAR) issued an update on its third quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $2.27-2.33 for the period, compared to the consensus estimate of $2.38. Marriott International also updated its FY 2024 guidance to 9.230-9.400 EPS.

Marriott International Stock Up 0.1 %

Shares of NASDAQ:MAR opened at $238.77 on Wednesday. The stock’s 50 day moving average is $238.87 and its 200-day moving average is $242.14. Marriott International has a twelve month low of $180.75 and a twelve month high of $260.57. The firm has a market capitalization of $68.20 billion, a price-to-earnings ratio of 24.64, a PEG ratio of 4.49 and a beta of 1.60.

Marriott International (NASDAQ:MAR) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). The company 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 business’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.09 earnings per share. Equities research analysts anticipate that Marriott International will post 9.56 earnings per share for the current fiscal year.

Marriott International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, May 24th were issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 1.06%. This is an increase from Marriott International’s previous quarterly dividend of $0.52. The ex-dividend date was Thursday, May 23rd. Marriott International’s payout ratio is currently 26.01%.

Analyst Upgrades and Downgrades

MAR has been the topic of a number of recent analyst reports. Susquehanna assumed 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. Barclays upped their target price on Marriott International from $240.00 to $251.00 and gave the company an equal weight rating in a report on Wednesday, July 17th. Wells Fargo & Company cut their price objective on Marriott International from $250.00 to $248.00 and set an equal weight rating on the stock in a research report on Thursday, May 2nd. Robert W. Baird raised their target price on Marriott International from $248.00 to $250.00 and gave the company a neutral rating in a research report on Thursday, May 2nd. Finally, BMO Capital Markets raised their price objective on shares of Marriott International from $235.00 to $240.00 and gave the stock a market perform rating in a report on Thursday, May 2nd. Thirteen equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $243.59.

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.