Brokerages Expect Marriot Vacations Worldwide Corporation (VAC) Will Post Quarterly Sales of $472.91 Million
Analysts expect that Marriot Vacations Worldwide Corporation (NYSE:VAC) will report sales of $472.91 million for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Marriot Vacations Worldwide Corporation’s earnings. The highest sales estimate is $502.82 million and the lowest is $451.00 million. Marriot Vacations Worldwide Corporation posted sales of $406.99 million during the same quarter last year, which suggests a positive year-over-year growth rate of 16.2%. The business is expected to issue its next earnings report on Thursday, October 12th.
According to Zacks, analysts expect that Marriot Vacations Worldwide Corporation will report full-year sales of $472.91 million for the current year, with estimates ranging from $1.94 billion to $2.01 billion. For the next financial year, analysts forecast that the company will post sales of $2.12 billion per share, with estimates ranging from $2.04 billion to $2.18 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Marriot Vacations Worldwide Corporation.
Marriot Vacations Worldwide Corporation (NYSE:VAC) last announced its earnings results on Thursday, August 3rd. The company reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.34. Marriot Vacations Worldwide Corporation had a return on equity of 16.96% and a net margin of 7.90%. The business had revenue of $497.62 million for the quarter, compared to analysts’ expectations of $489.85 million. During the same quarter last year, the firm earned $1.08 EPS. The business’s revenue for the quarter was up 17.6% on a year-over-year basis.
Several equities research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Marriot Vacations Worldwide Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 9th. BidaskClub upgraded shares of Marriot Vacations Worldwide Corporation from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 13th. Buckingham Research started coverage on shares of Marriot Vacations Worldwide Corporation in a research report on Monday, June 19th. They issued a “buy” rating and a $142.00 price target for the company. Finally, Telsey Advisory Group boosted their price target on shares of Marriot Vacations Worldwide Corporation from $113.00 to $120.00 and gave the stock a “market perform” rating in a research note on Friday, August 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $126.86.
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In other Marriot Vacations Worldwide Corporation news, VP Brian E. Miller sold 10,500 shares of the stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $114.61, for a total value of $1,203,405.00. Following the sale, the vice president now directly owns 12,058 shares of the company’s stock, valued at approximately $1,381,967.38. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder J W. Marriott, Jr. sold 5,962 shares of the stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $114.18, for a total transaction of $680,741.16. Following the completion of the sale, the insider now directly owns 12,144 shares in the company, valued at $1,386,601.92. The disclosure for this sale can be found here. 3.30% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in VAC. JPMorgan Chase & Co. lifted its position in shares of Marriot Vacations Worldwide Corporation by 7.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,170 shares of the company’s stock worth $138,000 after purchasing an additional 77 shares during the last quarter. US Bancorp DE grew its stake in shares of Marriot Vacations Worldwide Corporation by 6.3% during the first quarter. US Bancorp DE now owns 1,475 shares of the company’s stock worth $147,000 after purchasing an additional 87 shares in the last quarter. Creative Planning grew its stake in shares of Marriot Vacations Worldwide Corporation by 3.2% during the second quarter. Creative Planning now owns 1,307 shares of the company’s stock worth $154,000 after purchasing an additional 40 shares in the last quarter. Turner Investments LLC acquired a new position in shares of Marriot Vacations Worldwide Corporation during the second quarter worth $177,000. Finally, Ameritas Investment Partners Inc. acquired a new position in shares of Marriot Vacations Worldwide Corporation during the first quarter worth $193,000. Institutional investors and hedge funds own 75.63% of the company’s stock.
Marriot Vacations Worldwide Corporation (VAC) opened at 126.75 on Wednesday. The company has a market capitalization of $3.43 billion, a price-to-earnings ratio of 22.80 and a beta of 1.13. Marriot Vacations Worldwide Corporation has a 52-week low of $59.33 and a 52-week high of $128.75. The stock has a 50 day moving average price of $115.85 and a 200 day moving average price of $112.93.
Marriot Vacations Worldwide Corporation declared that its Board of Directors has initiated a share repurchase program on Thursday, August 3rd that permits the company to repurchase 1,000,000 shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 5th. Investors of record on Thursday, September 21st will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, September 20th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.10%. Marriot Vacations Worldwide Corporation’s payout ratio is 25.18%.
About Marriot Vacations Worldwide Corporation
Marriott Vacations Worldwide Corporation focuses on vacation ownership, based on number of owners, number of resorts and revenues. The Company is an exclusive worldwide developer, marketer, seller and manager of vacation ownership and related products under the Marriott Vacation Club and Grand Residences by Marriott brands.
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