Marriott International (NASDAQ:MAR) Updates Q3 Earnings Guidance
Marriott International (NASDAQ:MAR) updated its third quarter earnings guidance on Monday. The company provided earnings per share guidance of $0.96-0.99 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.01. Marriott International also updated its FY17 guidance to $4.06-4.18 EPS.
Several research analysts recently issued reports on MAR shares. Vetr raised shares of Marriott International from a hold rating to a buy rating and set a $96.50 target price for the company in a report on Tuesday, April 11th. Stifel Nicolaus reissued a hold rating and set a $95.00 target price (up previously from $87.00) on shares of Marriott International in a report on Tuesday, May 9th. Canaccord Genuity reissued a buy rating and set a $113.00 target price (up previously from $100.00) on shares of Marriott International in a report on Monday, May 8th. J P Morgan Chase & Co reissued an overweight rating and set a $111.00 target price on shares of Marriott International in a report on Friday, May 12th. Finally, BidaskClub raised shares of Marriott International from a hold rating to a buy rating in a report on Monday, July 24th. Two 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 company has a consensus rating of Hold and an average target price of $97.97.
Shares of Marriott International (NASDAQ:MAR) traded up 1.10% during mid-day trading on Monday, hitting $106.17. 4,795,902 shares of the stock traded hands. The firm has a market cap of $40.23 billion, a price-to-earnings ratio of 37.61 and a beta of 1.36. The firm’s 50 day moving average price is $102.52 and its 200 day moving average price is $95.55. Marriott International has a 12-month low of $65.91 and a 12-month high of $110.51. Marriott International also was the target of some unusual options trading activity on Friday. Investors purchased 7,596 put options on the company. This represents an increase of approximately 635% compared to the average daily volume of 1,033 put options.
Marriott International (NASDAQ:MAR) last announced its quarterly 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. The business had revenue of $5.56 billion during the quarter, compared to the consensus estimate of $5.28 billion. Marriott International had a net margin of 4.91% and a return on equity of 38.10%. The business’s revenue was up 47.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.87 EPS. On average, equities research analysts predict that Marriott International will post $4.04 EPS for the current fiscal year.
In related news, insider David A. Rodriguez sold 10,101 shares of the stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $101.30, for a total value of $1,023,231.30. Following the sale, the insider now directly owns 21,224 shares of the company’s stock, valued at approximately $2,149,991.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Stephen Blake Marriott sold 3,733 shares of the stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $107.44, for a total transaction of $401,073.52. Following the completion of the sale, the insider now directly owns 145,601 shares in the company, valued at $15,643,371.44. 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 in the last quarter. 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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