Marriot Vacations Worldwide Corporation (VAC) Releases Earnings Results, Beats Estimates By $0.27 EPS
Marriot Vacations Worldwide Corporation (NYSE:VAC) released its quarterly earnings data on Thursday. The company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.27, Bloomberg Earnings reports. The company had revenue of $486.99 million for the quarter, compared to the consensus estimate of $470.05 million. Marriot Vacations Worldwide Corporation had a return on equity of 16.96% and a net margin of 7.90%. The company’s quarterly revenue was up 21.2% compared to the same quarter last year. During the same period last year, the business posted $0.96 EPS. Marriot Vacations Worldwide Corporation updated its FY17 guidance to $5.30-5.41 EPS.
The business also recently announced a quarterly dividend, which was paid on Thursday, October 5th. Stockholders of record on Thursday, September 21st were paid a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, September 20th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.06%. Marriot Vacations Worldwide Corporation’s dividend payout ratio (DPR) is currently 25.18%.
Marriot Vacations Worldwide Corporation announced that its board has initiated a share repurchase plan on Thursday, August 3rd that authorizes the company to repurchase 1,000,000 shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
In other Marriot Vacations Worldwide Corporation news, VP Brian E. Miller sold 10,500 shares of the business’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $114.61, for a total value of $1,203,405.00. Following the completion of the sale, the vice president now owns 12,058 shares of the company’s stock, valued at $1,381,967.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder J W. Marriott, Jr. sold 5,962 shares of the business’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $114.18, for a total value of $680,741.16. Following the completion of the sale, the insider now directly owns 12,144 shares of the company’s stock, valued at approximately $1,386,601.92. The disclosure for this sale can be found here. 3.30% of the stock is currently owned by company insiders.
A number of equities analysts have recently commented on VAC shares. Janney Montgomery Scott restated a “buy” rating and issued a $140.00 price objective on shares of Marriot Vacations Worldwide Corporation in a report on Tuesday, August 29th. Zacks Investment Research downgraded Marriot Vacations Worldwide Corporation from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 5th. Stifel Nicolaus restated a “buy” rating and issued a $130.00 price objective (up from $120.00) on shares of Marriot Vacations Worldwide Corporation in a report on Thursday, September 21st. Deutsche Bank AG restated a “hold” rating and issued a $112.00 price objective (up from $92.00) on shares of Marriot Vacations Worldwide Corporation in a report on Wednesday, August 9th. Finally, BidaskClub downgraded Marriot Vacations Worldwide Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. Marriot Vacations Worldwide Corporation currently has a consensus rating of “Hold” and a consensus price target of $132.22.
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.
Receive News & Ratings for Marriot Vacations Worldwide Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marriot Vacations Worldwide Corporation and related companies with MarketBeat.com's FREE daily email newsletter.