Marriott International (MAR) Lowered to Buy at BidaskClub
BidaskClub lowered shares of Marriott International (NASDAQ:MAR) from a strong-buy rating to a buy rating in a research note issued to investors on Friday.
Several other equities analysts also recently weighed in on the company. Morgan Stanley increased their target price on Marriott International from $110.00 to $112.00 and gave the stock an overweight rating in a research report on Thursday. SunTrust Banks, Inc. raised their price objective on Marriott International to $108.00 and gave the stock a hold rating in a report on Thursday. Stifel Nicolaus restated a hold rating and issued a $115.00 price objective (up from $98.00) on shares of Marriott International in a report on Wednesday, November 8th. Royal Bank Of Canada restated a buy rating on shares of Marriott International in a report on Tuesday, November 7th. Finally, Zacks Investment Research upgraded Marriott International from a hold rating to a buy rating and set a $130.00 price objective on the stock in a report on Thursday, October 26th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the stock. Marriott International currently has a consensus rating of Buy and a consensus target price of $106.64.
Marriott International (MAR) traded up $1.30 during midday trading on Friday, reaching $120.11. The company had a trading volume of 3,377,000 shares, compared to its average volume of 2,456,549. Marriott International has a 1 year low of $72.75 and a 1 year high of $124.34. The stock has a market capitalization of $43,789.86, a P/E ratio of 29.37, a PEG ratio of 3.00 and a beta of 1.34. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.52 and a quick ratio of 0.52.
Marriott International (NASDAQ:MAR) last released its earnings results on Tuesday, November 7th. The company reported $1.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.12. Marriott International had a return on equity of 31.58% and a net margin of 6.30%. The firm had revenue of $5.66 billion for the quarter, compared to the consensus estimate of $5.22 billion. During the same period in the prior year, the business posted $0.91 earnings per share. The firm’s revenue for the quarter was up 43.7% compared to the same quarter last year. sell-side analysts predict that Marriott International will post 4.24 EPS for the current fiscal year.
Marriott International announced that its Board of Directors has authorized a share repurchase plan on Thursday, November 9th that allows the company to buyback 30,000,000 shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Wednesday, November 22nd will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, November 21st. This represents a $1.32 dividend on an annualized basis and a yield of 1.10%. Marriott International’s dividend payout ratio (DPR) is presently 35.87%.
In other Marriott International news, insider Juliana B. Marriott sold 8,400 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $100.51, for a total transaction of $844,284.00. Following the completion of the sale, the insider now owns 18,000 shares in the company, valued at approximately $1,809,180. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Argiris Kyriakidis sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 21st. The shares were sold at an average price of $107.84, for a total value of $323,520.00. Following the sale, the insider now owns 16,079 shares of the company’s stock, valued at approximately $1,733,959.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 210,727 shares of company stock valued at $23,836,500. 11.32% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Fox Run Management L.L.C. acquired a new position in shares of Marriott International in the 2nd quarter worth approximately $562,000. AHL Partners LLP grew its position in shares of Marriott International by 230.4% in the 2nd quarter. AHL Partners LLP now owns 19,615 shares of the company’s stock worth $1,967,000 after acquiring an additional 13,679 shares in the last quarter. Numeric Investors LLC acquired a new position in shares of Marriott International in the 2nd quarter worth approximately $772,000. Wells Fargo & Company MN grew its position in shares of Marriott International by 28.0% in the 2nd quarter. Wells Fargo & Company MN now owns 1,259,396 shares of the company’s stock worth $126,329,000 after acquiring an additional 275,382 shares in the last quarter. Finally, Andra AP fonden grew its position in shares of Marriott International by 82.4% in the 2nd quarter. Andra AP fonden now owns 24,800 shares of the company’s stock worth $2,488,000 after acquiring an additional 11,200 shares in the last quarter. Hedge funds and other institutional investors own 65.88% of the company’s stock.
Marriott International Company Profile
Marriott International, Inc (Marriott International) is a lodging company. Marriott International operates in three business segments: North American Full-Service, North American Limited-Service and International. Its North American Full-Service segment includes its Luxury and Premium brands (JW Marriott, Marriott Hotels, Sheraton, Westin, Renaissance Hotels, Le Meridien, Autograph Collection Hotels, Delta Hotels, Gaylord Hotels, and Tribute Portfolio) located in the United States and Canada.
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