Stifel Nicolaus reissued their hold rating on shares of Marriott International (NASDAQ:MAR) in a report released on Wednesday. The brokerage currently has a $115.00 price target on the stock, up from their previous price target of $98.00.
Several other brokerages also recently issued reports on MAR. Royal Bank Of Canada reaffirmed a buy rating on shares of Marriott International in a report on Tuesday, November 7th. Zacks Investment Research raised Marriott International from a hold rating to a buy rating and set a $130.00 price target for the company in a report on Thursday, October 26th. Robert W. Baird set a $103.00 price target on Marriott International and gave the company a hold rating in a report on Tuesday, October 17th. BidaskClub raised Marriott International from a buy rating to a strong-buy rating in a report on Thursday, October 12th. Finally, J P Morgan Chase & Co reaffirmed an overweight rating and set a $113.00 price target (up previously from $111.00) on shares of Marriott International in a report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $106.64.
Marriott International (NASDAQ MAR) traded up $1.30 during midday trading on Wednesday, hitting $120.11. The stock had a trading volume of 3,377,000 shares, compared to its average volume of 2,706,595. The firm has a market cap of $43,789.82, a P/E ratio of 29.37, a PEG ratio of 3.10 and a beta of 1.34. The company has a current ratio of 0.52, a quick ratio of 0.53 and a debt-to-equity ratio of 1.83. Marriott International has a 12 month low of $72.75 and a 12 month high of $124.34.
Marriott International (NASDAQ:MAR) last released its quarterly earnings data on Tuesday, November 7th. The company reported $1.10 EPS for the quarter, beating the consensus estimate of $0.98 by $0.12. The company had revenue of $5.66 billion during the quarter, compared to the consensus estimate of $5.22 billion. Marriott International had a return on equity of 31.58% and a net margin of 6.30%. The firm’s revenue for the quarter was up 43.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.91 EPS. equities analysts predict that Marriott International will post 4.24 EPS for the current fiscal year.
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Marriott International declared that its Board of Directors has approved a share buyback program on Thursday, November 9th that authorizes the company to repurchase 30,000,000 outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Wednesday, November 22nd will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date is Tuesday, November 21st. Marriott International’s payout ratio is currently 35.87%.
In related news, EVP Edward A. Ryan sold 6,000 shares of the firm’s stock in a transaction dated Friday, September 22nd. The stock was sold at an average price of $108.00, for a total value of $648,000.00. Following the sale, the executive vice president now directly owns 74,406 shares of the company’s stock, valued at $8,035,848. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider B. Marriott Marital Tr Juliana sold 30,000 shares of the firm’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $99.84, for a total value of $2,995,200.00. Following the completion of the sale, the insider now directly owns 493,896 shares in the company, valued at $49,310,576.64. The disclosure for this sale can be found here. Insiders sold 110,727 shares of company stock worth $11,339,600 in the last 90 days. 11.32% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in MAR. Oppenheimer Asset Management Inc. acquired a new stake in Marriott International in the first quarter valued at about $115,000. Fox Run Management L.L.C. acquired a new stake in Marriott International in the second quarter valued at about $562,000. Capital One National Association acquired a new stake in Marriott International in the second quarter valued at about $222,000. Atria Investments LLC acquired a new stake in Marriott International in the second quarter valued at about $233,000. Finally, Central Bank & Trust Co. boosted its stake in Marriott International by 36.4% in the second quarter. Central Bank & Trust Co. now owns 33,500 shares of the company’s stock valued at $3,360,000 after buying an additional 8,932 shares in the last quarter. 66.06% of the stock is currently owned by institutional investors and hedge funds.
Marriott International Company Profile
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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