Marriott Vacations Worldwide (NYSE:VAC) Updates FY24 Earnings Guidance

Marriott Vacations Worldwide (NYSE:VAC) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $6.05-6.40 for the period, compared to the consensus estimate of $6.00. Marriott Vacations Worldwide also updated its FY 2024 guidance to 6.050-6.400 EPS.

Marriott Vacations Worldwide Stock Up 7.0 %

Shares of Marriott Vacations Worldwide stock traded up $5.58 during trading on Wednesday, reaching $84.87. The company’s stock had a trading volume of 962,183 shares, compared to its average volume of 324,312. The company has a 50-day simple moving average of $74.96 and a two-hundred day simple moving average of $82.65. Marriott Vacations Worldwide has a 1-year low of $67.28 and a 1-year high of $108.57. The company has a market cap of $2.98 billion, a price-to-earnings ratio of 20.11, a P/E/G ratio of 0.73 and a beta of 1.79. The company has a quick ratio of 2.72, a current ratio of 3.28 and a debt-to-equity ratio of 2.21.

Marriott Vacations Worldwide Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, September 19th were issued a dividend of $0.76 per share. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $3.04 annualized dividend and a dividend yield of 3.58%. Marriott Vacations Worldwide’s dividend payout ratio (DPR) is currently 72.04%.

Wall Street Analyst Weigh In

Several analysts have weighed in on VAC shares. Stifel Nicolaus dropped their target price on shares of Marriott Vacations Worldwide from $108.00 to $96.50 and set a “buy” rating on the stock in a research report on Friday, September 13th. The Goldman Sachs Group assumed coverage on shares of Marriott Vacations Worldwide in a report on Wednesday, September 18th. They set a “sell” rating and a $62.00 price objective on the stock. Barclays reduced their target price on Marriott Vacations Worldwide from $82.00 to $74.00 and set an “equal weight” rating for the company in a research note on Thursday, September 26th. Deutsche Bank Aktiengesellschaft dropped their price target on Marriott Vacations Worldwide from $121.00 to $95.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Finally, JMP Securities reduced their price objective on Marriott Vacations Worldwide from $115.00 to $90.00 and set a “market outperform” rating for the company in a research note on Friday, August 2nd. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $96.65.

Insider Buying and Selling

In related news, insider Jason P. Marino purchased 700 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was bought at an average cost of $69.00 per share, with a total value of $48,300.00. Following the completion of the acquisition, the insider now owns 15,851 shares of the company’s stock, valued at $1,093,719. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.30% of the stock is owned by corporate insiders.

Marriott Vacations Worldwide Company Profile

Marriott Vacations Worldwide Corporation, a vacation company, develops, markets, sells, and manages vacation ownership and related businesses, products, and services in the United States and internationally. It operates through two segments, Vacation Ownership and Exchange & Third-Party Management.