Marriott International (NASDAQ:MAR) Updates Q2 2024 Earnings Guidance

Marriott International (NASDAQ:MAR - Get Free Report) updated its second quarter 2024 earnings guidance on Wednesday. The company provided EPS guidance of 2.430-2.480 for the period, compared to the consensus EPS estimate of 2.510. The company issued revenue guidance of -. Marriott International also updated its FY 2024 guidance to 9.310-9.650 EPS.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MAR. Barclays raised their price objective on Marriott International from $239.00 to $240.00 and gave the company an equal weight rating in a research note on Friday, April 19th. Mizuho lowered their target price on Marriott International from $263.00 to $260.00 and set a neutral rating on the stock in a research note on Tuesday, April 23rd. Argus lifted their target price on Marriott International from $270.00 to $280.00 and gave the stock a buy rating in a research note on Tuesday, March 19th. Jefferies Financial Group lifted their target price on Marriott International from $205.00 to $227.00 and gave the stock a hold rating in a research note on Tuesday, January 2nd. Finally, UBS Group lifted their target price on Marriott International from $210.00 to $259.00 and gave the stock a neutral rating in a research note on Wednesday, February 28th. Eleven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Marriott International has a consensus rating of Hold and an average price target of $236.69.

Marriott International Trading Down 1.0 %

Shares of NASDAQ MAR traded down $2.27 during midday trading on Wednesday, hitting $233.86. 2,157,123 shares of the company's stock were exchanged, compared to its average volume of 1,456,023. Marriott International has a 12-month low of $165.13 and a 12-month high of $260.57. The company has a market cap of $67.58 billion, a price-to-earnings ratio of 22.95, a PEG ratio of 5.36 and a beta of 1.62. The business's fifty day moving average price is $248.01 and its two-hundred day moving average price is $228.08.

Marriott International (NASDAQ:MAR - Get Free Report) last issued its quarterly earnings data on Tuesday, February 13th. The company reported $3.57 EPS for the quarter, topping the consensus estimate of $2.12 by $1.45. The company had revenue of $6.10 billion during the quarter, compared to analyst estimates of $6.20 billion. Marriott International had a negative return on equity of 848.49% and a net margin of 13.00%. Marriott International's revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.96 earnings per share. Equities analysts expect that Marriott International will post 9.46 earnings per share for the current fiscal year.

Marriott International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, February 22nd were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.89%. The ex-dividend date was Wednesday, February 21st. Marriott International's dividend payout ratio is currently 20.41%.

Insiders Place Their Bets

In other news, EVP Rena Hozore Reiss sold 3,563 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 36,778 shares of the company's stock, valued at $8,841,063.42. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, EVP Rena Hozore Reiss sold 3,563 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 36,778 shares of the company's stock, valued at $8,841,063.42. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Eric Hippeau sold 2,600 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $237.40, for a total value of $617,240.00. Following the sale, the director now directly owns 1,472 shares of the company's stock, valued at approximately $349,452.80. The disclosure for this sale can be found here. Insiders sold a total of 125,003 shares of company stock valued at $30,435,493 over the last quarter. 12.32% of the stock is owned by corporate insiders.

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, and City Express by Marriott brand names, as well as operates residences, timeshares, and yachts.