Marriott International PT Raised to $57.00 at Nomura (MAR)
Nomura lifted their price objective on shares of Marriott International (NYSE:MAR) to $57.00 in a research note issued on Monday, AnalystRatingsNetwork.com reports. The firm currently has a “positive” rating on the stock. Nomura’s price objective suggests a potential upside of 22.40% from the company’s current price.
The analysts wrote, “We hosted MAR management with mid-west investors last week. Below, we recap the key themes that we believe will lead to outperformance for the stock through 2015. We are increasing our price target to $57 from $54 as we roll the estimates that drive it forward to 2H2014/1H2015E EBITDA ($1.4b) from 2014E EBITDA ($1.37b). We expect upside of 22% in 12 months and 29% in 18 months, so we believe the stock should outperform in the near and intermediate term. Domestic supply growth should stay below 2% for several years owing to tight financing for low-quality brands. MAR has taken criticism for not expanding faster internationally. We expect MAR to close on its Portea hotel purchase in 1Q14. The D.C. Market currently looks a lot better than it did in 3Q13. For 2014, though, we expect YOY gains.”
In other Marriott International news, major shareholder Richard Marriott sold 21,800 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $46.09, for a total value of $1,004,762.00. Following the completion of the sale, the insider now directly owns 18,313,407 shares in the company, valued at approximately $844,064,929. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
MAR has been the subject of a number of other recent research reports. Analysts at Argus reiterated a “buy” rating on shares of Marriott International in a research note to investors on Thursday, November 21st. They now have a $54.00 price target on the stock. Separately, analysts at Ned Davis Research upgraded shares of Marriott International from a “neutral” rating to a “buy” rating in a research note to investors on Monday, November 18th. Ten research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Marriott International has a consensus rating of “Buy” and an average target price of $48.47.
Marriott International (NYSE:MAR) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.07. The company had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.05 billion. During the same quarter in the previous year, the company posted $0.44 earnings per share. The company’s revenue for the quarter was up 15.8% on a year-over-year basis.
The company also recently declared a quarterly dividend, which is scheduled for Friday, December 27th. Shareholders of record on Thursday, November 21st will be given a dividend of 0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend is Tuesday, November 19th.
Marriott International, Inc is a diversified hospitality company. It is a lodging company with more than 3,700 properties in 73 countries and territories.
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