Marriott International (NASDAQ:MAR) Upgraded by Zacks Investment Research to Hold
Marriott International (NASDAQ:MAR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports. The brokerage presently has a $91.00 price objective on the stock. Zacks Investment Research‘s price objective would indicate a potential upside of 4.94% from the stock’s current price.
According to Zacks, “Shares of Marriott have underperformed the industry in the past year. With travel resuming and economies reopening, Marriot has reopened all of its hotels in the Chinese Mainland. The company also announced that it is witnessing steady recovery in the U.S. markets as well. Notably, occupancy rates have improved significantly. However, the coronavirus pandemic still remains a concern. Due to this, RevPAR have also declined significantly. Owing to the crisis, the company has not only suspended dividends and share repurchase program but has also withdrawn its 2020 guidance. Notably, estimates for 2020 have witnessed downward revisions in the past 30 days, depicting analysts concern regarding the stock's earnings growth potential.”
Several other equities research analysts have also issued reports on MAR. Jefferies Financial Group reduced their target price on shares of Marriott International from $96.00 to $90.00 and set a “hold” rating for the company in a report on Wednesday, April 15th. Wolfe Research lowered shares of Marriott International from an “outperform” rating to a “market perform” rating in a report on Thursday, April 9th. TheStreet lowered shares of Marriott International from a “b-” rating to a “c+” rating in a report on Wednesday, March 25th. Citigroup reduced their target price on shares of Marriott International from $150.00 to $75.00 and set a “neutral” rating for the company in a report on Tuesday, April 7th. Finally, UBS Group reduced their target price on shares of Marriott International from $148.00 to $94.00 and set a “neutral” rating for the company in a report on Monday, May 4th. Two research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and six have issued a buy rating to the company’s stock. Marriott International presently has an average rating of “Hold” and a consensus price target of $109.57.
Marriott International (NASDAQ:MAR) last released its quarterly earnings results on Monday, May 11th. The company reported $0.26 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.90 by ($0.64). Marriott International had a net margin of 4.50% and a return on equity of 231.22%. The business had revenue of $4.68 billion for the quarter, compared to analysts’ expectations of $4.03 billion. During the same period in the previous year, the company earned $1.41 EPS. Marriott International’s revenue for the quarter was down 6.6% compared to the same quarter last year. On average, sell-side analysts predict that Marriott International will post 0.66 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently modified their holdings of MAR. Cpwm LLC bought a new stake in shares of Marriott International during the fourth quarter worth $230,000. Orion Portfolio Solutions LLC bought a new stake in shares of Marriott International during the fourth quarter worth $234,000. The Manufacturers Life Insurance Company lifted its position in shares of Marriott International by 15.9% during the first quarter. The Manufacturers Life Insurance Company now owns 298,562 shares of the company’s stock worth $22,335,000 after purchasing an additional 41,039 shares during the last quarter. Brooktree Capital Management bought a new stake in shares of Marriott International during the fourth quarter worth $1,777,000. Finally, Advisory Alpha LLC lifted its position in shares of Marriott International by 1,042.1% during the fourth quarter. Advisory Alpha LLC now owns 434 shares of the company’s stock worth $64,000 after purchasing an additional 396 shares during the last quarter. Institutional investors own 62.83% of the company’s stock.
About Marriott International
Marriott International, Inc operates, franchises, and licenses hotel, residential, and timeshare properties worldwide. The company operates through North American Full-Service, North American Limited-Service, and Asia Pacific segments. It operates its properties under the JW Marriott, The Ritz-Carlton, Ritz-Carlton Reserve, W Hotels, The Luxury Collection, St.
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