Marriott International (NASDAQ:MAR) Hits New 1-Year High on Earnings Beat

Key Points

• Marriott beat earnings expectations: Quarterly EPS was $3.02, above the $2.84 consensus, while revenue rose 8% year over year to $1.93 billion.
• Shares reached a new 52-week high: The stock climbed 5.2% and traded around $424.50, despite the analyst consensus target of $383.52.
• Investors received a quarterly dividend: Marriott paid $0.73 per share, equivalent to an annualized $2.92 dividend and a 0.7% yield; analysts maintain a “Moderate Buy” consensus rating.

Marriott International, Inc. (NASDAQ:MAR - Get Free Report) shares reached a new 52-week high during trading on Monday following a better than expected earnings announcement. The stock traded as high as $417.48 and last traded at $424.4970, with a volume of 30,770 shares. The stock had previously closed at $399.30.

The company reported $3.02 earnings per share for the quarter, topping the consensus estimate of $2.84 by $0.18. Marriott International had a negative return on equity of 75.81% and a net margin of 9.62%. The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $6.93 billion. During the same period in the prior year, the company posted $2.47 EPS. The firm's revenue for the quarter was up 8.0% compared to the same quarter last year.

Marriott International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Thursday, August 20th were paid a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Thursday, August 20th. Marriott International's payout ratio is currently 30.26%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. UBS Group reduced their target price on Marriott International from $412.00 to $395.00 and set a "neutral" rating on the stock in a report on Thursday, August 20th. CICC Research began coverage on shares of Marriott International in a research note on Wednesday, August 12th. They issued an "outperform" rating and a $410.00 price objective on the stock. TD Cowen raised shares of Marriott International to a "strong-buy" rating in a research note on Tuesday, September 8th. Weiss Ratings restated a "buy (b)" rating on shares of Marriott International in a research report on Friday, August 7th. Finally, Mizuho dropped their price objective on shares of Marriott International from $384.00 to $374.00 and set a "neutral" rating on the stock in a research note on Tuesday, August 4th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $383.52.

Insider Buying and Selling

In related news, insider Deborah Harrison sold 3,500 shares of the stock in a transaction dated Friday, September 25th. The stock was sold at an average price of $352.09, for a total transaction of $1,232,315.00. Following the completion of the transaction, the insider directly owned 282,383 shares in the company, valued at approximately $99,424,230.47. This trade represents a 1.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David Marriott sold 3,500 shares of the stock in a transaction on Friday, September 25th. The shares were sold at an average price of $352.09, for a total value of $1,232,315.00. Following the completion of the sale, the insider owned 282,383 shares in the company, valued at approximately $99,424,230.47. This trade represents a 1.22% decrease in their position. The disclosure for this sale is available in the SEC filing. 11.43% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. State Street Corp increased its holdings in Marriott International by 2.9% during the 2nd quarter. State Street Corp now owns 9,644,773 shares of the company's stock worth $3,574,256,000 after acquiring an additional 272,044 shares during the period. Jupiter Topco LLC bought a new stake in Marriott International during the 2nd quarter valued at about $81,872,000. William Blair Investment Management LLC lifted its holdings in shares of Marriott International by 255.5% during the 2nd quarter. William Blair Investment Management LLC now owns 300,872 shares of the company's stock valued at $111,500,000 after buying an additional 216,241 shares during the period. Danske Bank A S raised its stake in Marriott International by 170.4% during the 2nd quarter. Danske Bank A S now owns 326,743 shares of the company's stock worth $121,088,000 after acquiring an additional 205,886 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Marriott International in the third quarter worth $65,604,000. Institutional investors own 70.70% of the company's stock.

Marriott International Trading Up 5.2%

The business has a 50-day moving average price of $360.20 and a 200 day moving average price of $355.73. The stock has a market capitalization of $109.50 billion, a P/E ratio of 43.65, a P/E/G ratio of 3.04 and a beta of 1.15.

Marriott International Company Profile

Marriott International, Inc is a global hospitality company that develops, franchises, licenses and manages hotels, resorts, residences and other lodging properties. Its portfolio includes brands such as Marriott Hotels, Sheraton, Westin, W Hotels, The Ritz-Carlton, St. Regis, JW Marriott, Courtyard, Fairfield by Marriott, Residence Inn and Element. The company also operates Marriott Bonvoy, a travel loyalty program that provides members with benefits and rewards across participating properties and travel experiences.

Marriott traces its origins to 1927, when J.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.