Morgan Stanley upgraded shares of Marriott International Inc. (NASDAQ:MAR) from an equal weight rating to an overweight rating in a report issued on Monday morning. They currently have $78.00 target price on the stock.
A number of other equities analysts have also recently weighed in on the company. Vetr cut Marriott International from a strong-buy rating to a buy rating and set a $73.94 price objective on the stock. in a report on Tuesday, May 31st. Zacks Investment Research raised Marriott International from a sell rating to a hold rating in a report on Monday, August 1st. Credit Agricole SA raised Marriott International from an underperform rating to an outperform rating in a report on Monday, August 15th. Barclays PLC set a $80.00 price objective on Marriott International and gave the company a hold rating in a report on Friday, September 23rd. Finally, Evercore ISI raised Marriott International from a hold rating to a buy rating and set a $75.00 price objective on the stock in a report on Thursday, June 30th. One analyst has rated the stock with a sell rating, ten have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of Buy and an average price target of $78.09.
Marriott International (NASDAQ:MAR) opened at 67.10 on Monday. Marriott International has a 52 week low of $56.43 and a 52 week high of $79.88. The firm has a market capitalization of $17.07 billion, a price-to-earnings ratio of 19.99 and a beta of 1.25. The firm has a 50-day moving average price of $70.56 and a 200 day moving average price of $69.01.
Marriott International (NASDAQ:MAR) last released its quarterly earnings results on Wednesday, July 27th. The company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.05. Marriott International had a negative return on equity of 25.25% and a net margin of 5.87%. The firm had revenue of $3.90 billion for the quarter, compared to analysts’ expectations of $3.91 billion. During the same quarter last year, the firm posted $0.82 EPS. The company’s revenue was up 5.8% compared to the same quarter last year. On average, equities research analysts forecast that Marriott International will post $3.63 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 23rd will be given a $0.30 dividend. The ex-dividend date is Wednesday, September 21st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.79%. Marriott International’s dividend payout ratio is currently 35.71%.
In other news, major shareholder Richard E. Marriott sold 71,287 shares of the firm’s stock in a transaction that occurred on Thursday, September 22nd. The stock was sold at an average price of $70.14, for a total value of $5,000,070.18. Following the completion of the transaction, the insider now owns 12,223,365 shares in the company, valued at approximately $857,346,821.10. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Craig S. Smith sold 1,373 shares of the firm’s stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $73.30, for a total value of $100,640.90. Following the completion of the transaction, the insider now owns 15,704 shares of the company’s stock, valued at approximately $1,151,103.20. The disclosure for this sale can be found here. 17.07% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. North Star Investment Management Corp. boosted its position in Marriott International by 29.6% in the second quarter. North Star Investment Management Corp. now owns 1,533 shares of the company’s stock worth $102,000 after buying an additional 350 shares during the last quarter. Monetary Management Group Inc. purchased a new position in Marriott International during the first quarter worth approximately $126,000. Smithfield Trust Co. boosted its position in Marriott International by 54.3% in the second quarter. Smithfield Trust Co. now owns 1,875 shares of the company’s stock worth $125,000 after buying an additional 660 shares during the last quarter. Gradient Investments LLC boosted its position in Marriott International by 0.4% in the second quarter. Gradient Investments LLC now owns 1,958 shares of the company’s stock worth $130,000 after buying an additional 8 shares during the last quarter. Finally, Acrospire Investment Management LLC purchased a new position in Marriott International during the first quarter worth approximately $142,000. Institutional investors own 73.73% of the company’s stock.
Marriott International Company Profile
Marriott International, Inc is a lodging company. The Company is an operator, franchisor and licensor of hotels and timeshare properties in approximately 90 countries and territories under over 20 brand names. It also develops, operates and markets residential properties, and provides services to home or condominium owner associations.
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