Marriott International (NASDAQ:MAR) Updates Q4 Earnings Guidance

Marriott International (NASDAQ:MAR) updated its fourth quarter earnings guidance on Monday. The company provided earnings per share guidance of $2.31-2.39 for the period, compared to the consensus earnings per share estimate of $2.42. Marriott International also updated its FY 2024 guidance to 9.190-9.270 EPS.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on MAR shares. Mizuho lifted their price objective on shares of Marriott International from $233.00 to $246.00 and gave the company a “neutral” rating in a report on Tuesday. Sanford C. Bernstein lifted their price objective on shares of Marriott International from $262.00 to $290.00 and gave the company an “outperform” rating in a report on Tuesday. Truist Financial dropped their price objective on shares of Marriott International from $263.00 to $254.00 and set a “hold” rating for the company in a report on Tuesday, August 6th. JPMorgan Chase & Co. lifted their price objective on shares of Marriott International from $235.00 to $255.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Finally, Wells Fargo & Company lifted their price target on shares of Marriott International from $238.00 to $261.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 22nd. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $259.00.

Marriott International Trading Up 6.0 %

MAR stock traded up $15.45 on Wednesday, hitting $275.11. The company’s stock had a trading volume of 504,133 shares, compared to its average volume of 1,466,202. The firm has a 50 day moving average of $248.41 and a two-hundred day moving average of $239.43. Marriott International has a 1 year low of $189.44 and a 1 year high of $276.32. The stock has a market cap of $77.45 billion, a price-to-earnings ratio of 25.97, a price-to-earnings-growth ratio of 6.24 and a beta of 1.58.

Marriott International (NASDAQ:MAR) last released its quarterly earnings results on Monday, November 4th. The company reported $2.26 EPS for the quarter, missing the consensus estimate of $2.31 by ($0.05). The business had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $6.27 billion. Marriott International had a net margin of 12.01% and a negative return on equity of 239.60%. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter last year, the company earned $2.11 EPS. As a group, equities analysts forecast that Marriott International will post 9.37 EPS for the current fiscal year.

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.