Nomura Increases Marriott International Price Target to $74.00 (MAR)
Nomura boosted their price target on shares of Marriott International (NYSE:MAR) from $63.00 to $74.00 in a research note issued on Friday. Nomura’s price target points to a potential upside of 21.95% from the stock’s previous close.
Shares of Marriott International (NYSE:MAR) traded up 1.48% on Friday, hitting $61.58. The stock had a trading volume of 2,614,076 shares. Marriott International has a 52 week low of $38.17 and a 52 week high of $60.72. The stock has a 50-day moving average of $57.82 and a 200-day moving average of $52.2. The company has a market cap of $18.028 billion and a P/E ratio of 28.34.
Marriott International (NYSE:MAR) last released its earnings data on Tuesday, April 29th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.06. The company had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.30 billion. During the same quarter in the previous year, the company posted $0.43 earnings per share. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. Analysts expect that Marriott International will post $2.47 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, June 27th. Stockholders of record on Friday, May 23rd will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.32%. The ex-dividend date is Wednesday, May 21st. This is a boost from Marriott International’s previous quarterly dividend of $0.17.
Several other analysts have also recently commented on the stock. Analysts at Argus raised their price target on shares of Marriott International from $64.00 to $70.00 in a research note on Friday, May 9th. They now have a “buy” rating on the stock. Separately, analysts at Morgan Stanley downgraded shares of Marriott International from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, May 7th. Finally, analysts at MKM Partners reiterated a “fair value” rating on shares of Marriott International in a research note on Tuesday, May 6th. They now have a $60.00 price target on the stock, up previously from $55.00. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $59.47.
In other Marriott International news, major shareholder J Marriott, Jr. sold 97,043 shares of Marriott International stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $59.09, for a total value of $5,734,270.87. Following the completion of the sale, the insider now directly owns 188,229 shares of the company’s stock, valued at approximately $11,122,452. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.
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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