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

Marriott International (NASDAQ:MAR) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided EPS guidance of 9.190-9.270 for the period, compared to the consensus EPS estimate of 9.360. The company issued revenue guidance of -. Marriott International also updated its Q4 guidance to $2.31-2.39 EPS.

Marriott International Trading Up 1.3 %

MAR opened at $259.66 on Wednesday. The company’s fifty day moving average price is $248.41 and its two-hundred day moving average price is $239.43. Marriott International has a 1-year low of $189.34 and a 1-year high of $266.58. The company has a market cap of $73.10 billion, a price-to-earnings ratio of 25.97, a PEG ratio of 6.24 and a beta of 1.58.

Marriott International (NASDAQ:MAR) last posted its earnings results on Monday, November 4th. The company reported $2.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.31 by ($0.05). Marriott International had a negative return on equity of 239.60% and a net margin of 12.01%. The firm had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.27 billion. During the same quarter in the previous year, the company earned $2.11 EPS. The business’s revenue was up 5.5% compared to the same quarter last year. As a group, equities analysts forecast that Marriott International will post 9.37 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Truist Financial reduced their target price on shares of Marriott International from $263.00 to $254.00 and set a “hold” rating for the company in a research note on Tuesday, August 6th. Robert W. Baird increased their price target on shares of Marriott International from $258.00 to $264.00 and gave the company a “neutral” rating in a research report on Tuesday. TD Cowen reduced their price target on shares of Marriott International from $295.00 to $283.00 and set a “buy” rating for the company in a research report on Tuesday. The Goldman Sachs Group initiated coverage on shares of Marriott International in a research report on Wednesday, September 18th. They set a “buy” rating and a $267.00 price target for the company. Finally, Morgan Stanley cut their target price on shares of Marriott International from $268.00 to $250.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Marriott International presently has an average rating of “Hold” and a consensus target price of $259.00.

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.