Vetr Inc. Lowers Marriott International Inc. (MAR) to Hold
Marriott International Inc. (NASDAQ:MAR) was downgraded by stock analysts at Vetr from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday. They presently have a $79.18 target price on the stock. Vetr‘s target price would indicate a potential upside of 2.50% from the company’s previous close.
Several other research analysts have also recently issued reports on the company. Barclays PLC reaffirmed a “hold” rating and set a $80.00 target price on shares of Marriott International in a research report on Thursday, November 10th. Zacks Investment Research cut Marriott International from a “hold” rating to a “sell” rating in a research report on Wednesday, October 26th. Goldman Sachs Group Inc. began coverage on Marriott International in a research report on Monday, September 26th. They set a “buy” rating and a $81.00 target price on the stock. Stifel Nicolaus lifted their target price on Marriott International from $65.00 to $66.00 and gave the company a “hold” rating in a research report on Monday, September 26th. Finally, Morgan Stanley raised Marriott International from an “equal weight” rating to an “overweight” rating and set a $78.00 price objective on the stock in a research report on Monday, September 26th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $76.73.
Marriott International (NASDAQ:MAR) opened at 77.24 on Tuesday. The company has a market cap of $30.16 billion, a PE ratio of 27.50 and a beta of 1.23. The firm’s 50-day moving average price is $68.55 and its 200 day moving average price is $69.00. Marriott International has a 52-week low of $56.43 and a 52-week high of $77.81.
Marriott International (NASDAQ:MAR) last announced its earnings results on Monday, November 7th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.03. The company had revenue of $3.94 billion for the quarter, compared to analysts’ expectations of $4.41 billion. Marriott International had a negative return on equity of 76.10% and a net margin of 4.82%. Marriott International’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.78 earnings per share. On average, equities analysts predict that Marriott International will post $3.58 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Thursday, November 24th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date is Monday, November 21st. Marriott International’s payout ratio is currently 42.25%.
In related news, insider Stephen Blake Marriott sold 4,500 shares of the stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $73.67, for a total transaction of $331,515.00. Following the completion of the sale, the insider now directly owns 149,336 shares in the company, valued at approximately $11,001,583.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Richard E. Marriott sold 71,287 shares of the company’s stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $70.14, for a total value of $5,000,070.18. Following the transaction, the insider now directly owns 12,223,365 shares of the company’s stock, valued at approximately $857,346,821.10. The disclosure for this sale can be found here. 17.07% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MAR. Panagora Asset Management Inc. raised its position in Marriott International by 32.8% in the third quarter. Panagora Asset Management Inc. now owns 33,978 shares of the company’s stock worth $2,288,000 after buying an additional 8,400 shares during the last quarter. Blackstone Group L.P. acquired a new position in Marriott International during the third quarter worth approximately $22,189,000. Pagoda Asset Management LP acquired a new position in Marriott International during the third quarter worth approximately $15,091,000. Capital World Investors raised its position in Marriott International by 135.6% in the third quarter. Capital World Investors now owns 4,470,000 shares of the company’s stock worth $300,965,000 after buying an additional 2,572,784 shares during the last quarter. Finally, Capital Research Global Investors raised its position in Marriott International by 101.3% in the third quarter. Capital Research Global Investors now owns 8,717,184 shares of the company’s stock worth $586,928,000 after buying an additional 4,387,737 shares during the last quarter. 80.44% of the stock is owned by institutional investors and hedge funds.
Marriott International Company Profile
Marriott International, Inc is a lodging company. The Company is an operator, franchisor and licensor of hotels and timeshare properties in approximately 90 countries and territories under over 20 brand names. It operates through three segments: North American Full-Service, which includes brands, such as The Ritz-Carlton, EDITION, JW Marriott, Autograph Collection Hotels, Marriott Hotels, Delta Hotels and Resorts, and Renaissance Hotels located in the United States and Canada; North American Limited-Service, which includes brands, such as AC Hotels by Marriott, Courtyard, Residence Inn, SpringHill Suites, TownePlace Suites properties and Fairfield Inn & Suites located in the United States and Canada, and International, which includes brands, such as Bulgari Hotels & Resorts, Protea Hotels and Moxy Hotels located outside the United States and Canada.
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