Marriott International Inc (NASDAQ:MAR) – Investment analysts at Jefferies Financial Group cut their Q1 2020 earnings per share (EPS) estimates for Marriott International in a research note issued on Monday, May 13th. Jefferies Financial Group analyst D. Katz now expects that the company will post earnings of $1.50 per share for the quarter, down from their previous forecast of $1.52. Jefferies Financial Group also issued estimates for Marriott International’s Q2 2020 earnings at $1.82 EPS, Q3 2020 earnings at $1.86 EPS, Q4 2020 earnings at $1.76 EPS, Q1 2021 earnings at $1.70 EPS and FY2021 earnings at $7.86 EPS.
A number of other brokerages have also recently issued reports on MAR. Wells Fargo & Co lifted their price objective on shares of Marriott International from $123.00 to $141.00 and gave the company a “market perform” rating in a research note on Wednesday, April 24th. BidaskClub upgraded shares of Marriott International from a “hold” rating to a “buy” rating in a report on Friday, April 5th. Cowen restated a “buy” rating and issued a $150.00 target price on shares of Marriott International in a report on Tuesday, February 26th. Zacks Investment Research upgraded shares of Marriott International from a “sell” rating to a “hold” rating in a report on Wednesday, March 6th. Finally, SunTrust Banks boosted their target price on shares of Marriott International to $137.00 and gave the company a “positive” rating in a report on Monday, March 4th. Ten investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $136.29.
Marriott International (NASDAQ:MAR) last released its quarterly earnings results on Friday, May 10th. The company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.07. The company had revenue of $5.01 billion during the quarter, compared to the consensus estimate of $5.16 billion. Marriott International had a net margin of 8.62% and a return on equity of 97.68%. The firm’s quarterly revenue was up .1% on a year-over-year basis. During the same period in the previous year, the business earned $1.34 earnings per share.
Several hedge funds and other institutional investors have recently made changes to their positions in MAR. Strategy Asset Managers LLC bought a new stake in shares of Marriott International during the first quarter worth about $29,000. Harvest Group Wealth Management LLC bought a new stake in shares of Marriott International in the first quarter worth approximately $30,000. Alpha Omega Wealth Management LLC bought a new stake in shares of Marriott International in the first quarter worth approximately $32,000. Proficio Capital Partners LLC grew its stake in shares of Marriott International by 93.7% in the fourth quarter. Proficio Capital Partners LLC now owns 308 shares of the company’s stock worth $33,000 after acquiring an additional 149 shares during the period. Finally, Resources Investment Advisors Inc. grew its stake in shares of Marriott International by 38.0% in the first quarter. Resources Investment Advisors Inc. now owns 363 shares of the company’s stock worth $45,000 after acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 67.36% of the company’s stock.
In other news, CEO Arne M. Sorenson sold 63,726 shares of the company’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $124.15, for a total transaction of $7,911,582.90. Following the transaction, the chief executive officer now owns 750,500 shares in the company, valued at $93,174,575. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Margaret M. Mccarthy acquired 2,000 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were bought at an average price of $130.83 per share, for a total transaction of $261,660.00. Following the acquisition, the director now directly owns 2,000 shares of the company’s stock, valued at approximately $261,660. The disclosure for this purchase can be found here. Insiders have sold 136,730 shares of company stock worth $16,924,619 in the last quarter. Company insiders own 12.60% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 24th will be issued a $0.48 dividend. This is a positive change from Marriott International’s previous quarterly dividend of $0.41. The ex-dividend date is Thursday, May 23rd. This represents a $1.92 annualized dividend and a yield of 1.46%. Marriott International’s payout ratio is presently 26.41%.
About Marriott International
Marriott International, Inc operates, franchises, and licenses hotel, residential, and timeshare properties worldwide. The company operates through North American Full-Service, North American Limited-Service, and Asia Pacific segments. It operates its properties under the JW Marriott, The Ritz-Carlton, Ritz-Carlton Reserve, W Hotels, The Luxury Collection, St.
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