Marriott International (NASDAQ:MAR) Releases Earnings Results, Beats Expectations By $0.11 EPS
Marriott International (NASDAQ:MAR) released its quarterly earnings data on Monday. The company reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.11, Bloomberg Earnings reports. The business had revenue of $5.80 billion for the quarter, compared to analysts’ expectations of $5.73 billion. Marriott International had a return on equity of 38.10% and a net margin of 4.91%. Marriott International’s quarterly revenue was up 48.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.03 earnings per share. Marriott International updated its Q3 guidance to $0.96-0.99 EPS and its FY17 guidance to $4.06-4.18 EPS.
Shares of Marriott International (MAR) traded up 1.10% during trading on Monday, hitting $106.17. The stock had a trading volume of 4,856,201 shares. The stock has a market capitalization of $40.23 billion, a price-to-earnings ratio of 37.61 and a beta of 1.36. Marriott International has a one year low of $65.91 and a one year high of $110.51. The stock has a 50 day moving average price of $102.52 and a 200-day moving average price of $95.55. Marriott International also was the recipient of some unusual options trading on Friday. Stock traders bought 7,596 put options on the company. This represents an increase of approximately 635% compared to the typical daily volume of 1,033 put options.
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A number of research firms have recently issued reports on MAR. BidaskClub upgraded Marriott International from a “hold” rating to a “buy” rating in a research report on Monday, July 24th. Zacks Investment Research cut Marriott International from a “buy” rating to a “sell” rating in a research report on Tuesday, July 11th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $109.00 price target (up from $92.00) on shares of Marriott International in a research report on Monday, June 12th. J P Morgan Chase & Co reiterated an “overweight” rating and issued a $111.00 price target on shares of Marriott International in a research report on Friday, May 12th. Finally, Barclays PLC reiterated a “hold” rating and issued a $105.00 price target on shares of Marriott International in a research report on Friday, May 12th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company’s stock. Marriott International has a consensus rating of “Hold” and a consensus price target of $97.97.
In other news, insider Stephen Blake Marriott sold 3,733 shares of the business’s stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $107.44, for a total value of $401,073.52. Following the transaction, the insider now directly owns 145,601 shares of the company’s stock, valued at approximately $15,643,371.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mary K. Bush sold 1,200 shares of the business’s stock in a transaction dated Friday, June 30th. The shares were 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 in the company, valued at $111,079.89. The disclosure for this sale can be found here. Insiders sold a total of 55,117 shares of company stock worth $5,685,295 in the last quarter. Corporate insiders own 17.07% of the company’s stock.
About Marriott International
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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