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

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

Marriott International Stock Performance

Shares of NASDAQ:MAR traded down $0.97 during mid-day trading on Friday, hitting $234.59. 1,572,856 shares of the company traded hands, compared to its average volume of 1,539,790. Marriott International has a 52-week low of $165.13 and a 52-week high of $260.57. The firm has a market cap of $67.00 billion, a P/E ratio of 24.21, a PEG ratio of 5.24 and a beta of 1.61. The firm’s 50 day simple moving average is $247.40 and its 200 day simple moving average is $228.39.

Marriott International (NASDAQ:MAR) last posted 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 business had revenue of $5.98 billion for the quarter, compared to analysts’ expectations of $5.95 billion. During the same quarter in the prior year, the firm earned $2.09 earnings per share. Marriott International’s revenue for the quarter was up 6.4% compared to the same quarter last year. Equities research analysts expect that Marriott International will post 9.49 EPS for the current fiscal year.

Marriott International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, February 22nd were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend 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%.

Analyst Ratings Changes

A number of analysts have weighed in on MAR shares. UBS Group increased 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. Truist Financial lifted their target price on Marriott International from $233.00 to $263.00 and gave the company a hold rating in a research note on Wednesday, February 14th. Robert W. Baird raised their price target on Marriott International from $248.00 to $250.00 and gave the stock a neutral rating in a report on Thursday. Mizuho increased their target price on Marriott International from $260.00 to $265.00 and gave the stock a neutral rating in a research report on Thursday. Finally, Argus boosted their price target 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. Eleven analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $241.33.

Insider Activity at Marriott International

In related news, CEO Anthony Capuano sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $248.48, for a total value of $4,969,600.00. Following the completion of the sale, the chief executive officer now owns 93,323 shares of the company’s stock, valued at approximately $23,188,899.04. The sale was disclosed in a document filed with the SEC, which is available at this link. 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 value of $856,509.57. Following the completion of the sale, the executive vice president now directly owns 36,778 shares of the company’s stock, valued at $8,841,063.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Anthony Capuano sold 20,000 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $248.48, for a total value of $4,969,600.00. Following the completion of the sale, the chief executive officer now directly owns 93,323 shares of the company’s stock, valued at $23,188,899.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 125,003 shares of company stock valued at $30,435,493. 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.