Marriott International (NASDAQ:MAR) Updates FY17 Earnings Guidance
Marriott International (NASDAQ:MAR) updated its FY17 earnings guidance on Monday. The company provided EPS guidance of $4.06-4.18 for the period, compared to the Thomson Reuters consensus EPS estimate of $4.05. Marriott International also updated its Q3 guidance to $0.96-0.99 EPS.
A number of equities research analysts recently commented on the stock. Royal Bank Of Canada reaffirmed an outperform rating and issued a $109.00 price target (up previously from $92.00) on shares of Marriott International in a report on Monday, June 12th. Stifel Nicolaus reaffirmed a hold rating and issued a $95.00 price target (up previously from $87.00) on shares of Marriott International in a report on Tuesday, May 9th. Barclays PLC reaffirmed a hold rating and issued a $105.00 price target on shares of Marriott International in a report on Friday, May 12th. BidaskClub raised shares of Marriott International from a hold rating to a buy rating in a report on Monday, July 24th. Finally, Instinet lifted their price target on shares of Marriott International from $100.00 to $121.00 and gave the stock a buy rating in a report on Wednesday, May 10th. Two equities research 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. The stock presently has a consensus rating of Hold and an average target price of $97.97.
Shares of Marriott International (NASDAQ MAR) traded up 1.10% on Monday, reaching $106.17. 4,808,180 shares of the company traded hands. Marriott International has a 1-year low of $65.91 and a 1-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. The firm has a market capitalization of $40.23 billion, a P/E ratio of 37.61 and a beta of 1.36. Marriott International also saw some unusual options trading activity on Friday. Traders acquired 7,596 put options on the stock. This is an increase of 635% compared to the typical volume of 1,033 put options.
Marriott International (NASDAQ:MAR) last posted its earnings results on Monday, May 8th. The company reported $1.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.90 by $0.11. The company had revenue of $5.56 billion during the quarter, compared to analysts’ expectations of $5.28 billion. Marriott International had a net margin of 4.91% and a return on equity of 38.10%. Marriott International’s quarterly revenue was up 47.4% on a year-over-year basis. During the same period last year, the company posted $0.87 earnings per share. Analysts anticipate that Marriott International will post $4.04 EPS for the current fiscal year.
In other Marriott International news, Director Mary K. Bush sold 1,200 shares of Marriott International stock in a transaction on 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 of the company’s stock, valued at approximately $111,079.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director George Munoz sold 5,894 shares of Marriott International stock in a transaction on Monday, May 15th. The stock was sold at an average price of $103.95, for a total transaction 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. Insiders sold a total of 55,117 shares of company stock valued at $5,685,295 over the last three months. Corporate insiders own 17.07% of the company’s stock.
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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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