Marriott International, Inc. (NASDAQ:MAR) Announces Quarterly Dividend of $0.67

Key Points

• Marriott International has declared a quarterly dividend of $0.67 per share, which will be paid to stockholders on September 30th, representing an annualized yield of 1.0%.
• The company reported earnings of $2.65 per share for the last quarter, matching analysts' expectations, while achieving a revenue of $6.74 billion, up 4.7% compared to the previous year.
• Marriott's stock price recently traded down 0.8% to $260.59, with analysts maintaining a "Moderate Buy" rating and an average target price of $280.89.

Marriott International, Inc. (NASDAQ:MAR - Get Free Report) declared a quarterly dividend on Thursday, August 7th, RTT News reports. Stockholders of record on Thursday, August 21st will be paid a dividend of 0.67 per share on Tuesday, September 30th. This represents a c) dividend on an annualized basis and a dividend yield of 1.0%.

Marriott International has a dividend payout ratio of 23.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Marriott International to earn $11.70 per share next year, which means the company should continue to be able to cover its $2.68 annual dividend with an expected future payout ratio of 22.9%.

Marriott International Trading Down 0.8%

Shares of NASDAQ MAR traded down $2.12 during trading hours on Thursday, reaching $260.59. The stock had a trading volume of 1,695,849 shares, compared to its average volume of 1,733,099. Marriott International has a 52-week low of $205.40 and a 52-week high of $307.52. The firm has a market cap of $71.37 billion, a price-to-earnings ratio of 29.38, a P/E/G ratio of 2.49 and a beta of 1.44. The business's fifty day moving average price is $268.91 and its two-hundred day moving average price is $261.84.

Marriott International (NASDAQ:MAR - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $2.65 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $2.65. Marriott International had a negative return on equity of 94.29% and a net margin of 9.60%. The business had revenue of $6.74 billion for the quarter, compared to the consensus estimate of $6.66 billion. During the same quarter in the prior year, the company earned $2.50 EPS. The business's revenue was up 4.7% compared to the same quarter last year. Equities research analysts anticipate that Marriott International will post 10.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $245.00 price target (down previously from $313.00) on shares of Marriott International in a report on Monday, April 14th. Barclays lowered their target price on Marriott International from $283.00 to $236.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Melius Research raised shares of Marriott International to a "strong-buy" rating in a research note on Monday, April 21st. Truist Financial lowered their price target on shares of Marriott International from $300.00 to $273.00 and set a "hold" rating on the stock in a report on Friday, May 30th. Finally, Mizuho decreased their price objective on shares of Marriott International from $293.00 to $285.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Twelve equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Marriott International currently has an average rating of "Moderate Buy" and an average target price of $280.89.

About Marriott International

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, City Express by Marriott, and St.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.