Marriott International Sets New 52-Week High After Dividend Announcement (MAR)
Shares of Marriott International (NYSE:MAR) hit a new 52-week high during mid-day trading on Friday after the company announced a dividend, American Banking and Market News reports. The stock traded as high as $51.58 and last traded at $51.52, with a volume of 3,178,328 shares traded. The stock had previously closed at $50.11.
The newly announced dividend is scheduled for Friday, March 28th. Shareholders of record on Friday, February 28th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.32%.
A number of analysts have recently weighed in on MAR shares. Analysts at Morgan Stanley upgraded shares of Marriott International from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, January 21st. They now have a $62.00 price target on the stock, up previously from $45.00. Separately, analysts at Barclays upgraded shares of Marriott International from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, January 21st. They now have a $58.00 price target on the stock, up previously from $45.00. Finally, analysts at JPMorgan Chase & Co. upgraded shares of Marriott International from a “neutral” rating to an “overweight” rating in a research note on Monday, January 13th. They now have a $58.00 price target on the stock. One research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Marriott International currently has a consensus rating of “Buy” and an average price target of $51.32.
The stock has a 50-day moving average of $49.29 and a 200-day moving average of $45.06. The company has a market cap of $15.432 billion and a price-to-earnings ratio of 24.11.
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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