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

Marriott International (NASDAQ:MAR) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 9.230-9.400 for the period, compared to the consensus EPS estimate of 9.500. The company issued revenue guidance of -. Marriott International also updated its FY24 guidance to $9.23-9.40 EPS.

Marriott International Stock Down 2.3 %

Marriott International stock traded down $5.11 during trading hours on Friday, hitting $213.67. The stock had a trading volume of 3,679,065 shares, compared to its average volume of 1,579,860. The company has a 50-day moving average of $237.97 and a two-hundred day moving average of $241.90. The company has a market cap of $60.15 billion, a PE ratio of 22.05, a price-to-earnings-growth ratio of 4.24 and a beta of 1.60. Marriott International has a fifty-two week low of $180.75 and a fifty-two week high of $260.57.

Marriott International (NASDAQ:MAR) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $2.50 EPS for the quarter, beating the consensus estimate of $2.49 by $0.01. The firm had revenue of $6.44 billion during the quarter, compared to analysts’ expectations of $6.47 billion. Marriott International had a negative return on equity of 239.60% and a net margin of 12.01%. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.26 EPS. As a group, analysts forecast that Marriott International will post 9.29 EPS for the current fiscal year.

Marriott International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, August 16th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 1.18%. Marriott International’s dividend payout ratio (DPR) is 26.01%.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft cut their target price on Marriott International from $222.00 to $216.00 and set a hold rating for the company in a research report on Thursday. Robert W. Baird cut their target price on Marriott International from $252.00 to $245.00 and set a neutral rating for the company in a research report on Thursday. Susquehanna assumed coverage on Marriott International in a research report on Friday, June 21st. They set a neutral rating and a $255.00 target price for the company. Barclays raised their target price on Marriott International from $240.00 to $251.00 and gave the stock an equal weight rating in a research report on Wednesday, July 17th. Finally, Wells Fargo & Company cut their target price on Marriott International from $248.00 to $238.00 and set an equal weight rating for the company in a research report on Thursday. Fifteen equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Marriott International has a consensus rating of Hold and an average target price of $241.42.

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.