Marriott International (NASDAQ:MAR) Hits New 52-Week High – Here’s Why

Marriott International, Inc. (NASDAQ:MAR) hit a new 52-week high during trading on Wednesday . The company traded as high as $262.40 and last traded at $261.84, with a volume of 387383 shares traded. The stock had previously closed at $256.58.

Analyst Ratings Changes

A number of research analysts recently commented on MAR shares. Truist Financial decreased their price target on Marriott International from $263.00 to $254.00 and set a “hold” rating on the stock in a research report on Tuesday, August 6th. UBS Group decreased their price target on Marriott International from $267.00 to $244.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 13th. Wells Fargo & Company decreased their target price on Marriott International from $248.00 to $238.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft decreased their target price on Marriott International from $222.00 to $216.00 and set a “hold” rating on the stock in a research report on Thursday, August 1st. Finally, Macquarie reiterated a “neutral” rating and issued a $245.00 target price on shares of Marriott International in a research report on Friday, August 2nd. Twelve equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Marriott International presently has a consensus rating of “Hold” and an average target price of $248.65.

Marriott International Stock Up 0.8 %

The stock has a 50 day moving average of $233.17 and a 200 day moving average of $238.03. The company has a market capitalization of $73.94 billion, a price-to-earnings ratio of 26.05, a price-to-earnings-growth ratio of 6.15 and a beta of 1.59.

Marriott International (NASDAQ:MAR) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.49 by $0.01. The company had revenue of $6.44 billion for the quarter, compared to analyst estimates of $6.47 billion. Marriott International had a negative return on equity of 239.60% and a net margin of 12.01%. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.26 earnings per share. As a group, sell-side analysts anticipate that Marriott International, Inc. will post 9.37 EPS for the current fiscal year.

Marriott International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, August 16th were issued a dividend of $0.63 per share. The ex-dividend date was Friday, August 16th. This represents a $2.52 annualized dividend and a dividend yield of 0.96%. Marriott International’s dividend payout ratio is 25.20%.

Institutional Investors Weigh In On Marriott International

Hedge funds and other institutional investors have recently modified their holdings of the company. Paloma Partners Management Co bought a new stake in Marriott International during the fourth quarter worth $1,168,000. Profund Advisors LLC grew its holdings in Marriott International by 17.0% during the fourth quarter. Profund Advisors LLC now owns 27,990 shares of the company’s stock worth $6,312,000 after buying an additional 4,072 shares in the last quarter. Taylor Financial Group Inc. bought a new stake in Marriott International during the fourth quarter worth $1,122,000. GLOBALT Investments LLC GA bought a new stake in Marriott International during the fourth quarter worth $797,000. Finally, Novak & Powell Financial Services Inc. bought a new stake in Marriott International during the fourth quarter worth $298,000. Institutional investors own 70.70% of the company’s stock.

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, City Express by Marriott, and St.