Marriott International Inc. (MAR) Stock Rating Reaffirmed by Morgan Stanley
Marriott International Inc. (NASDAQ:MAR)‘s stock had its “overweight” rating reissued by equities research analysts at Morgan Stanley in a research note issued on Tuesday. They presently have a $74.00 target price on the stock, down from their previous target price of $76.00. Morgan Stanley’s price target would indicate a potential downside of 4.60% from the stock’s current price.
A number of other brokerages also recently issued reports on MAR. Vetr downgraded Marriott International from a “strong-buy” rating to a “buy” rating and set a $78.19 price objective for the company. in a research report on Monday, November 7th. Barclays PLC reissued a “hold” rating and set a $80.00 price objective on shares of Marriott International in a research report on Thursday, November 10th. Stifel Nicolaus raised their price objective on Marriott International from $65.00 to $66.00 and gave the stock a “hold” rating in a research report on Monday, September 26th. Zacks Investment Research raised Marriott International from a “sell” rating to a “hold” rating in a research report on Monday, August 1st. Finally, 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 price objective for the company. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $76.51.
Marriott International (NASDAQ:MAR) opened at 77.57 on Tuesday. The company has a market capitalization of $30.29 billion, a PE ratio of 27.61 and a beta of 1.23. The stock has a 50 day moving average of $69.13 and a 200-day moving average of $69.12. Marriott International has a 12-month low of $56.43 and a 12-month high of $78.18.
Marriott International (NASDAQ:MAR) last posted its quarterly earnings results on Monday, November 7th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.88 by $0.03. Marriott International had a negative return on equity of 76.10% and a net margin of 4.82%. The business had revenue of $3.94 billion for the quarter, compared to analyst estimates of $4.41 billion. During the same quarter in the previous year, the firm earned $0.78 EPS. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. Equities analysts expect that Marriott International will post $3.57 earnings per share for the current year.
The business also recently announced 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 company’s stock in a transaction on Thursday, November 10th. The stock was sold at an average price of $73.67, for a total transaction of $331,515.00. Following the transaction, the insider now owns 149,336 shares of the company’s stock, valued at $11,001,583.12. The sale was disclosed in a filing 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 on Thursday, September 22nd. The stock was 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 in the company, 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 made changes to their positions in MAR. Burke & Herbert Bank & Trust Co. raised its stake in Marriott International by 3.0% in the third quarter. Burke & Herbert Bank & Trust Co. now owns 4,066 shares of the company’s stock valued at $273,000 after buying an additional 120 shares during the period. Fundsmith LLP purchased a new stake in Marriott International during the second quarter valued at $13,051,000. Huntington National Bank raised its stake in Marriott International by 489.9% in the second quarter. Huntington National Bank now owns 218,342 shares of the company’s stock valued at $14,511,000 after buying an additional 181,331 shares during the period. Legal & General Group Plc raised its stake in Marriott International by 0.7% in the first quarter. Legal & General Group Plc now owns 860,879 shares of the company’s stock valued at $61,278,000 after buying an additional 5,724 shares during the period. Finally, State Treasurer State of Michigan raised its stake in Marriott International by 1.2% in the second quarter. State Treasurer State of Michigan now owns 66,219 shares of the company’s stock valued at $4,401,000 after buying an additional 800 shares during the period. 80.44% of the stock is currently owned by hedge funds and other institutional investors.
About Marriott International
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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