Marriott International (NASDAQ:MAR) Releases Q3 2024 Earnings Guidance

Marriott International (NASDAQ:MAR) issued an update on its third quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 2.270-2.330 for the period, compared to the consensus estimate of 2.380. The company issued revenue guidance of -. Marriott International also updated its FY 2024 guidance to 9.230-9.400 EPS.

Marriott International Trading Down 2.3 %

MAR traded down $5.11 during trading on Friday, hitting $213.67. 3,679,065 shares of the company traded hands, compared to its average volume of 1,579,860. The company has a market cap of $60.15 billion, a PE ratio of 22.05, a P/E/G ratio of 4.24 and a beta of 1.60. The stock’s 50-day simple moving average is $237.97 and its two-hundred day simple moving average is $241.90. Marriott International has a 1 year low of $180.75 and a 1 year high of $260.57.

Marriott International (NASDAQ:MAR) last issued 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. Marriott International had a net margin of 12.01% and a negative return on equity of 239.60%. The business had revenue of $6.44 billion during the quarter, compared to analysts’ expectations of $6.47 billion. During the same period last year, the company posted $2.26 EPS. The business’s revenue was up 6.0% on a year-over-year basis. Equities analysts expect that Marriott International will post 9.29 EPS for the current year.

Marriott International Dividend Announcement

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

Analyst Ratings Changes

MAR has been the subject of several analyst reports. Susquehanna initiated coverage on shares of Marriott International in a report on Friday, June 21st. They issued a neutral rating and a $255.00 target price for the company. Macquarie restated a neutral rating and issued a $245.00 target price on shares of Marriott International in a report on Friday. JPMorgan Chase & Co. raised their target price on shares of Marriott International from $235.00 to $255.00 and gave the stock a neutral rating in a report on Friday, July 19th. Wells Fargo & Company lowered their price objective on shares of Marriott International from $248.00 to $238.00 and set an equal weight rating for the company in a research report on Thursday. Finally, Mizuho boosted their price objective on shares of Marriott International from $260.00 to $265.00 and gave the company a neutral rating in a research report on Thursday, May 2nd. Fifteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Marriott International currently has an average rating of Hold and an average target price of $241.42.

About Marriott International

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.