Marriott International Inc. (MAR) Rating Lowered to Hold at Evercore ISI
Marriott International Inc. (NASDAQ:MAR) was downgraded by Evercore ISI from a “buy” rating to a “hold” rating in a report released on Monday. They presently have a $80.00 price objective on the stock. Evercore ISI’s price target suggests a potential upside of 1.13% from the company’s previous close.
Several other brokerages have also issued reports on MAR. Vetr lowered Marriott International from a “buy” rating to a “hold” rating and set a $79.18 price target for the company. in a research note on Tuesday, November 15th. Telsey Advisory Group dropped their price target on Marriott International from $74.00 to $70.00 and set a “market perform” rating for the company in a research note on Friday, September 23rd. Barclays PLC set a $80.00 price target on Marriott International and gave the stock a “hold” rating in a research note on Friday, September 23rd. Zacks Investment Research lowered Marriott International from a “hold” rating to a “sell” rating in a research note on Wednesday, October 26th. Finally, Sanford C. Bernstein assumed coverage on Marriott International in a research note on Thursday, September 8th. They set an “outperform” rating and a $87.00 price target for the company. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $76.59.
Shares of Marriott International (NASDAQ:MAR) opened at 79.11 on Monday. The stock has a 50 day moving average price of $71.28 and a 200 day moving average price of $69.54. The firm has a market cap of $30.89 billion, a PE ratio of 28.16 and a beta of 1.23. Marriott International has a 52 week low of $56.43 and a 52 week high of $78.90.
Marriott International (NASDAQ:MAR) last announced its quarterly earnings results on Monday, November 7th. The company reported $0.91 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.03. The company earned $3.94 billion during 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%. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.78 earnings per share. Equities analysts expect that Marriott International will post $3.62 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Thursday, November 24th will be given a $0.30 dividend. The ex-dividend date is Monday, November 21st. This represents a $1.20 annualized dividend and a yield of 1.52%. Marriott International’s dividend payout ratio (DPR) is presently 42.25%.
In other news, insider David A. Rodriguez sold 1,582 shares of the stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $77.53, for a total transaction of $122,652.46. Following the transaction, the insider now directly owns 49,392 shares of the company’s stock, valued at approximately $3,829,361.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Stephen Blake Marriott sold 4,500 shares of the stock in a transaction on Thursday, November 10th. The shares were sold at an average price of $73.67, for a total value of $331,515.00. Following the transaction, the insider now directly owns 149,336 shares in the company, valued at $11,001,583.12. The disclosure for this sale can be found here. Insiders own 17.07% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. Capital Research Global Investors raised its stake 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 valued at $586,928,000 after buying an additional 4,387,737 shares during the period. BlackRock Institutional Trust Company N.A. raised its stake in Marriott International by 53.7% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 8,898,727 shares of the company’s stock valued at $599,151,000 after buying an additional 3,109,290 shares during the period. Capital World Investors raised its stake in Marriott International by 135.6% in the third quarter. Capital World Investors now owns 4,470,000 shares of the company’s stock valued at $300,965,000 after buying an additional 2,572,784 shares during the period. BlackRock Fund Advisors raised its stake in Marriott International by 74.8% in the third quarter. BlackRock Fund Advisors now owns 5,249,607 shares of the company’s stock valued at $353,456,000 after buying an additional 2,247,068 shares during the period. Finally, Vulcan Value Partners LLC bought a new stake in Marriott International during the second quarter valued at approximately $138,646,000. 63.96% 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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