Marriott International Lowered to “Neutral” at Macquarie (MAR)
Marriott International (NYSE:MAR) was downgraded by analysts at Macquarie from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday, TheFlyOnTheWall.com reports. They currently have a $65.00 price objective on the stock, up from their previous price objective of $60.00. Macquarie’s price target indicates a potential upside of 3.67% from the company’s current price. The analysts noted that the move was a valuation call.
A number of other analysts have also recently weighed in on MAR. Analysts at Nomura raised their price target on shares of Marriott International from $63.00 to $74.00 in a research note on Friday, May 30th. Separately, 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. Finally, 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. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Marriott International currently has a consensus rating of “Buy” and a consensus price target of $59.75.
Marriott International (NYSE:MAR) opened at 61.81 on Wednesday. Marriott International has a one year low of $38.17 and a one year high of $63.14. The stock has a 50-day moving average of $59.20 and a 200-day moving average of $53.2. The company has a market cap of $18.096 billion and a P/E ratio of 29.29.
Marriott International (NYSE:MAR) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.57 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.43 earnings per share. The company’s quarterly revenue was up 4.8% on a year-over-year basis. On average, analysts predict that Marriott International will post $2.47 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, June 27th. Investors 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 1.28%. The ex-dividend date is Wednesday, May 21st. This is an increase from Marriott International’s previous quarterly dividend of $0.17.
In other Marriott International news, major shareholder J W. Marriott, Jr. sold 20,834 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $61.38, for a total transaction of $1,278,790.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases 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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