Marriott International (NASDAQ:MAR) Releases Q3 Earnings Guidance

Marriott International (NASDAQ:MAR) updated its third quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $2.27-2.33 for the period, compared to the consensus estimate of $2.38. Marriott International also updated its FY 2024 guidance to 9.230-9.400 EPS.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MAR. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Marriott International from $222.00 to $216.00 and set a hold rating for the company in a report on Thursday. Robert W. Baird decreased their price target on shares of Marriott International from $252.00 to $245.00 and set a neutral rating on the stock in a research note on Thursday. BMO Capital Markets boosted their price target on shares of Marriott International from $235.00 to $240.00 and gave the stock a market perform rating in a research note on Thursday, May 2nd. Macquarie reiterated a neutral rating and issued a $245.00 price target on shares of Marriott International in a research note on Friday. Finally, Susquehanna assumed coverage on shares of Marriott International in a research note on Friday, June 21st. They issued a neutral rating and a $255.00 price target on the stock. Fifteen investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $241.42.

Marriott International Price Performance

Shares of MAR stock opened at $213.67 on Friday. The company has a market capitalization of $60.15 billion, a P/E ratio of 22.05, a P/E/G ratio of 4.24 and a beta of 1.60. The company’s 50-day simple moving average is $237.97 and its two-hundred day simple moving average is $241.79. Marriott International has a one year low of $180.75 and a one year high of $260.57.

Marriott International (NASDAQ:MAR) last issued its earnings results on Wednesday, July 31st. The company reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.49 by $0.01. The business had revenue of $6.44 billion for the quarter, compared to the consensus estimate of $6.47 billion. Marriott International had a net margin of 12.01% and a negative return on equity of 239.60%. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.26 EPS. On average, research analysts expect that Marriott International will post 9.29 EPS for the current fiscal year.

Marriott International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, August 16th will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.18%. Marriott International’s dividend payout ratio is presently 26.01%.

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.