Marriott International (NASDAQ:MAR) Updates FY24 Earnings Guidance

Marriott International (NASDAQ:MAR) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $9.31-9.65 for the period, compared to the consensus earnings per share estimate of $9.44. Marriott International also updated its FY 2024 guidance to 9.310-9.650 EPS.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on MAR shares. Wells Fargo & Company dropped their target price on shares of Marriott International from $250.00 to $248.00 and set an equal weight rating for the company in a report on Thursday. Mizuho lifted their target price on Marriott International from $260.00 to $265.00 and gave the company a neutral rating in a research note on Thursday. Truist Financial upped their price target on Marriott International from $233.00 to $263.00 and gave the stock a hold rating in a research note on Wednesday, February 14th. UBS Group boosted their target price on shares of Marriott International from $210.00 to $259.00 and gave the stock a neutral rating in a report on Wednesday, February 28th. Finally, Robert W. Baird raised their target price on shares of Marriott International from $248.00 to $250.00 and gave the company a neutral rating in a research note on Thursday. Eleven analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $241.33.

Marriott International Price Performance

Shares of MAR traded down $0.97 during midday trading on Friday, hitting $234.59. The stock had a trading volume of 1,572,856 shares, compared to its average volume of 1,539,790. Marriott International has a 1 year low of $165.13 and a 1 year high of $260.57. The stock’s 50 day moving average is $247.74 and its 200 day moving average is $228.13. The firm has a market cap of $67.00 billion, a PE ratio of 24.21, a price-to-earnings-growth ratio of 5.24 and a beta of 1.61.

Marriott International (NASDAQ:MAR) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.17 by ($0.04). Marriott International had a negative return on equity of 376.88% and a net margin of 12.00%. The firm had revenue of $5.98 billion during the quarter, compared to the consensus estimate of $5.95 billion. During the same period in the previous year, the business earned $2.09 EPS. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. As a group, equities research analysts expect that Marriott International will post 9.49 earnings per share for the current fiscal year.

Marriott International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, February 22nd were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date was Wednesday, February 21st. Marriott International’s dividend payout ratio is currently 21.47%.

Insider Buying and Selling

In other news, Director Eric Hippeau sold 1,400 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $251.19, for a total transaction of $351,666.00. Following the transaction, the director now directly owns 72 shares of the company’s stock, valued at $18,085.68. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Marriott International news, EVP Rena Hozore Reiss sold 3,563 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $240.39, for a total transaction of $856,509.57. Following the sale, the executive vice president now owns 36,778 shares of the company’s stock, valued at approximately $8,841,063.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Eric Hippeau sold 1,400 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $251.19, for a total value of $351,666.00. Following the sale, the director now owns 72 shares of the company’s stock, valued at $18,085.68. The disclosure for this sale can be found here. Insiders have sold 125,003 shares of company stock valued at $30,435,493 in the last 90 days. Company insiders own 12.32% of the company’s stock.

Marriott International Company Profile

Marriott International, Inc engages in operating, franchising, and licensing hotel, residential, timeshare, and other lodging properties worldwide. It operates its properties under the JW Marriott, The Ritz-Carlton, The Luxury Collection, W Hotels, St. Regis, EDITION, Bvlgari, Marriott Hotels, Sheraton, Westin, Autograph Collection, Renaissance Hotels, Le Méridien, Delta Hotels by Marriott, Tribute Portfolio, Gaylord Hotels, Design Hotels, Marriott Executive Apartments, Apartments by Marriott Bonvoy, Courtyard by Marriott, Fairfield by Marriott, Residence Inn by Marriott, SpringHill Suites by Marriott, Four Points by Sheraton, TownePlace Suites by Marriott, Aloft Hotels, AC Hotels by Marriott, Moxy Hotels, Element Hotels, Protea Hotels by Marriott, and City Express by Marriott brand names, as well as operates residences, timeshares, and yachts.