Zacks: Brokerages Anticipate Marriott International (MAR) Will Post Quarterly Sales of $4.98 Billion
Equities analysts expect Marriott International (NASDAQ:MAR) to post sales of $4.98 billion for the current quarter, according to Zacks. Three analysts have issued estimates for Marriott International’s earnings, with the lowest sales estimate coming in at $4.40 billion and the highest estimate coming in at $5.44 billion. Marriott International reported sales of $3.94 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 26.4%. The company is expected to issue its next quarterly earnings results after the market closes on Tuesday, November 7th.
According to Zacks, analysts expect that Marriott International will report full-year sales of $4.98 billion for the current year, with estimates ranging from $21.36 billion to $22.51 billion. For the next fiscal year, analysts forecast that the firm will post sales of $23.23 billion per share, with estimates ranging from $22.01 billion to $24.62 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover Marriott International.
Marriott International (NASDAQ:MAR) last issued its quarterly earnings data on Monday, August 7th. The company reported $1.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.11. The business had revenue of $5.80 billion for the quarter, compared to the consensus estimate of $5.73 billion. Marriott International had a return on equity of 26.26% and a net margin of 5.27%. The firm’s revenue was up 48.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.03 EPS.
A number of equities research analysts have recently commented on the stock. BidaskClub lowered shares of Marriott International from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 14th. Robert W. Baird lifted their target price on shares of Marriott International from $101.00 to $103.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 8th. Zacks Investment Research downgraded shares of Marriott International from a “buy” rating to a “sell” rating in a research note on Tuesday, July 11th. UBS AG restated a “neutral” rating and issued a $101.00 target price (up previously from $98.00) on shares of Marriott International in a report on Monday, August 14th. Finally, Stifel Nicolaus boosted their target price on shares of Marriott International from $95.00 to $98.00 and gave the company a “hold” rating in a report on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $100.81.
In other news, insider Juliana B. Marriott sold 8,400 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $100.51, for a total value of $844,284.00. Following the transaction, the insider now owns 18,000 shares in the company, valued at $1,809,180. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Edward A. Ryan sold 4,453 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $103.81, for a total value of $462,265.93. Following the completion of the transaction, the executive vice president now owns 80,406 shares in the company, valued at approximately $8,346,946.86. The disclosure for this sale can be found here. Insiders have sold 110,727 shares of company stock valued at $11,339,600 over the last quarter. Corporate insiders own 11.32% of the company’s stock.
A number of institutional investors have recently made changes to their positions in MAR. Regal Wealth Group Inc. raised its position in Marriott International by 0.3% in the 2nd quarter. Regal Wealth Group Inc. now owns 1,637 shares of the company’s stock valued at $164,000 after buying an additional 5 shares during the last quarter. Gradient Investments LLC boosted its holdings in Marriott International by 0.3% during the 2nd quarter. Gradient Investments LLC now owns 2,011 shares of the company’s stock worth $202,000 after acquiring an additional 6 shares during the last quarter. Family Firm Inc. boosted its holdings in Marriott International by 0.3% during the 2nd quarter. Family Firm Inc. now owns 2,931 shares of the company’s stock worth $294,000 after acquiring an additional 8 shares during the last quarter. Alexandria Capital LLC boosted its holdings in Marriott International by 0.7% during the 2nd quarter. Alexandria Capital LLC now owns 1,644 shares of the company’s stock worth $165,000 after acquiring an additional 12 shares during the last quarter. Finally, First Bank & Trust boosted its holdings in Marriott International by 1.2% during the 2nd quarter. First Bank & Trust now owns 1,701 shares of the company’s stock worth $171,000 after acquiring an additional 20 shares during the last quarter. Institutional investors and hedge funds own 65.88% of the company’s stock.
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Marriott International (MAR) opened at 109.40 on Wednesday. Marriott International has a 12-month low of $65.91 and a 12-month high of $111.46. The firm’s 50-day moving average price is $104.28 and its 200 day moving average price is $101.06. The company has a market capitalization of $40.74 billion, a price-to-earnings ratio of 35.90 and a beta of 1.36.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Thursday, August 24th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, August 22nd. This represents a $1.32 annualized dividend and a yield of 1.21%. Marriott International’s payout ratio is 45.52%.
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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