Cleveland Research Initiates Coverage on Marriott International (MAR)
Cleveland Research started coverage on shares of Marriott International (NYSE:MAR) in a research note issued on Friday, TheFlyOnTheWall.com reports. The firm set a “neutral” rating on the stock.
In other Marriott International news, major shareholder J W. Marriott, Jr. unloaded 100,000 shares of the stock on the open market in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $63.65, for a total value of $6,365,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
A number of other analysts have also recently weighed in on MAR. Analysts at Zacks reiterated a “neutral” rating on shares of Marriott International in a research note on Friday, June 20th. They now have a $67.00 price target on the stock. Separately, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Marriott International in a research note on Wednesday, June 18th. They now have a $70.00 price target on the stock, up previously from $65.00. Finally, analysts at Macquarie downgraded shares of Marriott International from an “outperform” rating to a “neutral” rating in a research note on Wednesday, June 11th. They now have a $65.00 price target on the stock, up previously from $60.00. They noted that the move was a valuation call. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Marriott International presently has an average rating of “Buy” and a consensus price target of $60.40.
Shares of Marriott International (NYSE:MAR) opened at 63.94 on Friday. Marriott International has a 52-week low of $39.58 and a 52-week high of $64.10. The stock’s 50-day moving average is $60.86 and its 200-day moving average is $54.46. The company has a market cap of $18.719 billion and a price-to-earnings ratio of 29.89.
Marriott International (NYSE:MAR) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.57 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.43 earnings per share. Marriott International’s revenue was up 4.8% compared to the same quarter last year. On average, analysts predict that Marriott International will post $2.47 earnings per share for the current fiscal year.
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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