Marriott International (NASDAQ:MAR) Issues FY24 Earnings Guidance

Marriott International (NASDAQ:MAR) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of $9.23-9.40 for the period, compared to the consensus EPS estimate of $9.51. Marriott International also updated its FY 2024 guidance to 9.230-9.400 EPS.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MAR. Deutsche Bank Aktiengesellschaft lowered their price objective on Marriott International from $222.00 to $216.00 and set a hold rating for the company in a research note on Thursday. Wells Fargo & Company decreased their price target on Marriott International from $248.00 to $238.00 and set an equal weight rating for the company in a research note on Thursday. Mizuho increased their price target on Marriott International from $260.00 to $265.00 and gave the stock a neutral rating in a research note on Thursday, May 2nd. Robert W. Baird decreased their price target on Marriott International from $252.00 to $245.00 and set a neutral rating for the company in a research note on Thursday. Finally, JPMorgan Chase & Co. increased their price target on Marriott International from $235.00 to $255.00 and gave the stock a neutral rating in a research note on Friday, July 19th. Fifteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Marriott International has an average rating of Hold and an average price target of $241.42.

Marriott International Trading Down 2.3 %

NASDAQ:MAR opened at $213.67 on Friday. The firm has a market capitalization of $60.15 billion, a price-to-earnings ratio of 22.05, a PEG ratio of 4.24 and a beta of 1.60. Marriott International has a 1-year low of $180.75 and a 1-year high of $260.57. The business’s fifty day moving average price is $237.97 and its 200 day moving average price is $241.79.

Marriott International (NASDAQ:MAR) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.49 by $0.01. The firm had revenue of $6.44 billion for the quarter, compared to analyst estimates of $6.47 billion. Marriott International had a negative return on equity of 239.60% and a net margin of 12.01%. Marriott International’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.26 earnings per share. Equities analysts forecast that Marriott International will post 9.29 earnings per share for the current year.

Marriott International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, August 16th will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 1.18%. Marriott International’s payout ratio is currently 26.01%.

About Marriott International

Marriott International, Inc engages in operating, franchising, and licensing hotel, residential, timeshare, and other lodging properties worldwide. It operates its properties under the JW Marriott, The Ritz-Carlton, The Luxury Collection, W Hotels, St. Regis, EDITION, Bvlgari, Marriott Hotels, Sheraton, Westin, Autograph Collection, Renaissance Hotels, Le Méridien, Delta Hotels by Marriott, Tribute Portfolio, Gaylord Hotels, Design Hotels, Marriott Executive Apartments, Apartments by Marriott Bonvoy, Courtyard by Marriott, Fairfield by Marriott, Residence Inn by Marriott, SpringHill Suites by Marriott, Four Points by Sheraton, TownePlace Suites by Marriott, Aloft Hotels, AC Hotels by Marriott, Moxy Hotels, Element Hotels, Protea Hotels by Marriott, and City Express by Marriott brand names, as well as operates residences, timeshares, and yachts.