Marriott International (NASDAQ:MAR) Updates FY24 Earnings Guidance

Marriott International (NASDAQ:MAR) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of $9.31-9.65 for the period, compared to the consensus EPS estimate of $9.44. Marriott International also updated its FY 2024 guidance to 9.310-9.650 EPS.

Marriott International Price Performance

Marriott International stock traded down $0.97 during trading hours on Friday, reaching $234.59. The company had a trading volume of 1,572,856 shares, compared to its average volume of 1,539,790. The firm has a market cap of $67.00 billion, a price-to-earnings ratio of 24.21, a P/E/G ratio of 5.24 and a beta of 1.61. Marriott International has a 12-month low of $165.13 and a 12-month high of $260.57. The company has a 50-day moving average price of $247.74 and a 200 day moving average price of $228.13.

Marriott International (NASDAQ:MAR) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). The firm had revenue of $5.98 billion for the quarter, compared to the consensus estimate of $5.95 billion. Marriott International had a net margin of 12.00% and a negative return on equity of 376.88%. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.09 earnings per share. As a group, research analysts expect that Marriott International will post 9.49 earnings per share for the current year.

Marriott International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, February 22nd were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date was Wednesday, February 21st. Marriott International’s payout ratio is 21.47%.

Analyst Ratings Changes

A number of analysts recently commented on MAR shares. Wells Fargo & Company dropped their price target on Marriott International from $250.00 to $248.00 and set an equal weight rating for the company in a research note on Thursday. UBS Group increased their target price on Marriott International from $210.00 to $259.00 and gave the stock a neutral rating in a research report on Wednesday, February 28th. Truist Financial boosted their target price on shares of Marriott International from $233.00 to $263.00 and gave the company a hold rating in a report on Wednesday, February 14th. Argus lifted their price target on shares of Marriott International from $270.00 to $280.00 and gave the company a buy rating in a research report on Tuesday, March 19th. Finally, BMO Capital Markets raised their target price on shares of Marriott International from $235.00 to $240.00 and gave the company a market perform rating in a research note on Thursday. Eleven research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $241.33.

Insider Buying and Selling at Marriott International

In other news, EVP Rena Hozore Reiss sold 3,563 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $240.39, for a total value of $856,509.57. Following the completion of the sale, the executive vice president now directly owns 36,778 shares of the company’s stock, valued at $8,841,063.42. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Anthony Capuano sold 20,000 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $248.48, for a total value of $4,969,600.00. Following the transaction, the chief executive officer now owns 93,323 shares of the company’s stock, valued at $23,188,899.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Rena Hozore Reiss sold 3,563 shares of the firm’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $240.39, for a total transaction of $856,509.57. Following the transaction, the executive vice president now directly owns 36,778 shares of the company’s stock, valued at $8,841,063.42. The disclosure for this sale can be found here. Insiders have sold 125,003 shares of company stock valued at $30,435,493 over the last 90 days. 12.32% of the stock is currently owned by corporate insiders.

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.