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

Marriott International (NASDAQ:MAR) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 9.310-9.650 for the period, compared to the consensus estimate of 9.440. The company issued revenue guidance of -. Marriott International also updated its FY24 guidance to $9.31-9.65 EPS.

Marriott International Stock Down 0.4 %

Shares of Marriott International stock traded down $0.97 during trading hours on Friday, reaching $234.59. 1,572,856 shares of the company’s stock were exchanged, 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 company has a market capitalization of $67.00 billion, a P/E ratio of 24.21, a price-to-earnings-growth ratio of 5.24 and a beta of 1.61. The business has a fifty day moving average of $247.40 and a two-hundred day moving average of $228.39.

Marriott International (NASDAQ:MAR) last released its earnings results on Wednesday, May 1st. The company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $5.98 billion for the quarter, compared to analysts’ expectations of $5.95 billion. During the same period in the previous year, the company earned $2.09 EPS. Marriott International’s quarterly revenue was up 6.4% compared to the same quarter last year. As a group, research analysts predict that Marriott International will post 9.49 EPS for the current year.

Marriott International Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Truist Financial upped their price objective on shares of Marriott International from $233.00 to $263.00 and gave the company a hold rating in a report on Wednesday, February 14th. Argus upped their price objective on shares of Marriott International from $270.00 to $280.00 and gave the company a buy rating in a report on Tuesday, March 19th. BMO Capital Markets upped their price objective on shares of Marriott International from $235.00 to $240.00 and gave the company a market perform rating in a report on Thursday. UBS Group upped their price objective on shares of Marriott International from $210.00 to $259.00 and gave the company a neutral rating in a report on Wednesday, February 28th. Finally, Mizuho upped their target price on shares of Marriott International from $260.00 to $265.00 and gave the company a neutral rating in a research report on Thursday. Eleven investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Marriott International has a consensus rating of Hold and a consensus price target of $241.33.

Insider Transactions at Marriott International

In other news, CEO Anthony Capuano sold 20,000 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $248.48, for a total transaction of $4,969,600.00. Following the sale, the chief executive officer now owns 93,323 shares of the company’s stock, valued at $23,188,899.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Anthony Capuano sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $248.48, for a total transaction of $4,969,600.00. Following the sale, the chief executive officer now directly owns 93,323 shares in the company, valued at $23,188,899.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David S. Marriott sold 2,878 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $248.94, for a total transaction of $716,449.32. Following the sale, the insider now owns 596,042 shares in the company, valued at $148,378,695.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 125,003 shares of company stock valued at $30,435,493. 12.32% of the stock is currently owned by corporate insiders.

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.