Brokerages Expect Marriott International (MAR) Will Announce Quarterly Sales of $4.98 Billion
Wall Street analysts expect that Marriott International (NASDAQ:MAR) will announce $4.98 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Marriott International’s earnings. The highest sales estimate is $5.44 billion and the lowest is $4.40 billion. Marriott International reported sales of $3.94 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 26.4%. The firm is scheduled to report its next quarterly earnings report after the market closes on Tuesday, November 7th.
On average, analysts expect that Marriott International will report full-year sales of $4.98 billion for the current fiscal year, with estimates ranging from $21.36 billion to $22.51 billion. For the next financial year, analysts forecast that the business will post sales of $23.23 billion per share, with estimates ranging from $22.01 billion to $24.62 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Marriott International.
Marriott International (NASDAQ:MAR) last issued its quarterly earnings data on Monday, August 7th. The company reported $1.13 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.11. The company had revenue of $5.80 billion for the quarter, compared to analyst estimates of $5.73 billion. Marriott International had a net margin of 5.27% and a return on equity of 26.26%. Marriott International’s revenue was up 48.5% compared to the same quarter last year. During the same period last year, the company posted $1.03 earnings per share.
MAR has been the topic of a number of research reports. Zacks Investment Research upgraded shares of Marriott International from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. BidaskClub upgraded shares of Marriott International from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 12th. Robert W. Baird set a $103.00 target price on shares of Marriott International and gave the stock a “hold” rating in a report on Tuesday, October 17th. UBS AG reiterated a “neutral” rating and set a $101.00 target price (up from $98.00) on shares of Marriott International in a report on Monday, August 14th. Finally, Wolfe Research upgraded shares of Marriott International from a “market perform” rating to an “outperform” rating in a report on Wednesday, August 30th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $99.68.
Marriott International (NASDAQ:MAR) opened at 115.02 on Monday. The stock has a market capitalization of $42.84 billion, a price-to-earnings ratio of 37.75 and a beta of 1.36. Marriott International has a one year low of $65.91 and a one year high of $116.67. The company’s 50-day moving average is $109.17 and its 200 day moving average is $102.88.
The business also recently announced a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Thursday, August 24th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date was Tuesday, August 22nd. Marriott International’s dividend payout ratio (DPR) is 45.52%.
In other Marriott International news, EVP Edward A. Ryan sold 6,000 shares of the firm’s stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $108.00, for a total transaction of $648,000.00. Following the transaction, the executive vice president now directly owns 74,406 shares of the company’s stock, valued at approximately $8,035,848. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Argiris Kyriakidis sold 3,000 shares of the firm’s stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $107.84, for a total transaction of $323,520.00. Following the transaction, the insider now directly owns 16,079 shares in the company, valued at $1,733,959.36. The disclosure for this sale can be found here. Insiders sold a total of 110,727 shares of company stock worth $11,339,600 over the last ninety days. Insiders own 11.32% of the company’s stock.
A number of institutional investors have recently modified their holdings of the business. Regal Wealth Group Inc. grew its position in Marriott International by 0.3% during the 2nd quarter. Regal Wealth Group Inc. now owns 1,637 shares of the company’s stock worth $164,000 after purchasing an additional 5 shares during the last quarter. Gradient Investments LLC grew its position 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 purchasing an additional 6 shares during the last quarter. Family Firm Inc. grew its position 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 purchasing an additional 8 shares during the last quarter. Alexandria Capital LLC grew its position 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 purchasing an additional 12 shares during the last quarter. Finally, First Bank & Trust grew its position 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 purchasing an additional 20 shares during the last quarter. 65.85% of the stock is currently owned by institutional investors.
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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