Marriott International (MAR) Expected to Announce Quarterly Sales of $5.12 Billion
Wall Street brokerages predict that Marriott International (NASDAQ:MAR) will report sales of $5.12 billion for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Marriott International’s earnings. The highest sales estimate is $5.60 billion and the lowest is $4.55 billion. Marriott International posted sales of $3.90 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 31.3%. The business is expected to report its next earnings report after the market closes on Monday, August 7th.
According to Zacks, analysts expect that Marriott International will report full year sales of $5.12 billion for the current fiscal year, with estimates ranging from $20.14 billion to $22.34 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $22.61 billion per share, with estimates ranging from $20.75 billion to $24.32 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Marriott International.
Marriott International (NASDAQ:MAR) last announced its earnings results on Monday, May 8th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.11. Marriott International had a return on equity of 38.10% and a net margin of 4.91%. The business had revenue of $5.56 billion for the quarter, compared to analyst estimates of $5.28 billion. During the same quarter last year, the firm earned $0.87 EPS. Marriott International’s revenue for the quarter was up 47.4% compared to the same quarter last year.
Several research analysts have issued reports on MAR shares. J P Morgan Chase & Co reiterated an “overweight” rating and issued a $111.00 price target on shares of Marriott International in a report on Friday, May 12th. Goldman Sachs Group, Inc. (The) lowered Marriott International from a “conviction-buy” rating to a “buy” rating and set a $105.00 price target on the stock. in a report on Tuesday, April 11th. Evercore ISI increased their price target on Marriott International from $86.00 to $90.00 and gave the stock an “underperform” rating in a report on Thursday, March 23rd. Barclays PLC reiterated a “hold” rating and issued a $105.00 price target on shares of Marriott International in a report on Friday, May 12th. Finally, Zacks Investment Research upgraded Marriott International from a “hold” rating to a “buy” rating and set a $115.00 price target on the stock in a report on Tuesday, May 16th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $97.97.
Shares of Marriott International (NASDAQ:MAR) traded up 0.44% during midday trading on Friday, reaching $102.85. The company had a trading volume of 1,363,918 shares. The stock’s 50 day moving average is $103.04 and its 200-day moving average is $94.22. Marriott International has a 12-month low of $65.91 and a 12-month high of $110.51. The stock has a market capitalization of $38.97 billion, a PE ratio of 36.43 and a beta of 1.35.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Friday, May 19th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.28%. This is a positive change from Marriott International’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Wednesday, May 17th. Marriott International’s dividend payout ratio is 47.48%.
In other news, Director Mary K. Bush sold 1,200 shares of the firm’s stock in a transaction on Friday, June 30th. The stock was sold at an average price of $100.89, for a total value of $121,068.00. Following the completion of the transaction, the director now directly owns 1,101 shares of the company’s stock, valued at $111,079.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director George Munoz sold 5,894 shares of the firm’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $103.95, for a total value of $612,681.30. Following the completion of the transaction, the director now directly owns 7,659 shares of the company’s stock, valued at $796,153.05. The disclosure for this sale can be found here. Over the last three months, insiders have sold 55,117 shares of company stock valued at $5,685,295. 17.07% of the stock is owned by corporate insiders.
Several institutional investors have recently bought and sold shares of MAR. Sheets Smith Wealth Management bought a new position in Marriott International during the first quarter worth approximately $223,000. Creative Planning raised its position in Marriott International by 11.9% in the first quarter. Creative Planning now owns 26,482 shares of the company’s stock worth $2,494,000 after buying an additional 2,807 shares during the last quarter. Raymond James Trust N.A. bought a new position in Marriott International during the first quarter worth approximately $312,000. CENTRAL TRUST Co raised its position in Marriott International by 5.1% in the first quarter. CENTRAL TRUST Co now owns 2,902 shares of the company’s stock worth $273,000 after buying an additional 140 shares during the last quarter. Finally, Chevy Chase Trust Holdings Inc. raised its position in Marriott International by 2.0% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 318,570 shares of the company’s stock worth $30,003,000 after buying an additional 6,265 shares during the last quarter. 66.98% of the stock is owned by hedge funds and other institutional investors.
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Marriott International Company Profile
Marriott International, Inc (Marriott International) is a lodging company. Marriott International operates in three business segments: North American Full-Service, North American Limited-Service and International. Its North American Full-Service segment includes its Luxury and Premium brands (JW Marriott, Marriott Hotels, Sheraton, Westin, Renaissance Hotels, Le Meridien, Autograph Collection Hotels, Delta Hotels, Gaylord Hotels, and Tribute Portfolio) located in the United States and Canada.
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