Marriott International (MAR) Downgraded to “Market Perform” at Sanford C. Bernstein
Other research analysts also recently issued reports about the company. Berenberg Bank reiterated a buy rating and set a $125.00 target price on shares of Marriott International in a research note on Friday, August 18th. BidaskClub downgraded Marriott International from a strong-buy rating to a buy rating in a research note on Monday, August 14th. Zacks Investment Research upgraded Marriott International from a hold rating to a buy rating and set a $130.00 target price for the company in a research note on Thursday, October 26th. Royal Bank Of Canada reissued a buy rating on shares of Marriott International in a report on Tuesday, November 7th. Finally, Robert W. Baird reissued a hold rating and set a $103.00 price target on shares of Marriott International in a report on Sunday, September 17th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the company’s stock. Marriott International has a consensus rating of Buy and an average price target of $106.64.
Marriott International (NASDAQ:MAR) traded up $1.10 during mid-day trading on Thursday, reaching $125.48. The company’s stock had a trading volume of 4,660,674 shares, compared to its average volume of 2,471,990. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.52 and a current ratio of 0.52. The company has a market capitalization of $45,350.00, a P/E ratio of 30.09, a price-to-earnings-growth ratio of 3.08 and a beta of 1.34. Marriott International has a 12-month low of $76.88 and a 12-month high of $125.64.
Marriott International (NASDAQ:MAR) last posted its quarterly earnings results on Tuesday, November 7th. The company reported $1.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.98 by $0.12. The firm 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 business’s revenue was up 43.7% compared to the same quarter last year. During the same period last year, the company earned $0.91 earnings per share. equities analysts forecast that Marriott International will post 4.24 EPS for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Wednesday, November 22nd will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, November 21st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.05%. Marriott International’s dividend payout ratio (DPR) is currently 35.87%.
Marriott International announced that its Board of Directors has authorized a share repurchase program on Thursday, November 9th that permits the company to buyback 30,000,000 outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.
In other Marriott International news, insider Argiris Kyriakidis sold 2,500 shares of the company’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $121.55, for a total value of $303,875.00. Following the sale, the insider now owns 13,579 shares in the company, valued at approximately $1,650,527.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider J W. Marriott, Jr. sold 10,376 shares of the company’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $102.01, for a total value of $1,058,455.76. Following the completion of the sale, the insider now owns 229,648 shares in the company, valued at approximately $23,426,392.48. The disclosure for this sale can be found here. Insiders have sold a total of 202,977 shares of company stock worth $23,240,427 in the last 90 days. 11.32% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Advisory Services Network LLC grew its position in shares of Marriott International by 1,490.1% in the 2nd quarter. Advisory Services Network LLC now owns 1,129 shares of the company’s stock valued at $113,000 after buying an additional 1,058 shares during the last quarter. Baker Ellis Asset Management LLC acquired a new position in shares of Marriott International in the 2nd quarter valued at about $133,000. First Quadrant L P CA acquired a new position in shares of Marriott International in the 3rd quarter valued at about $136,000. Grove Bank & Trust lifted its stake in shares of Marriott International by 214.8% in the 3rd quarter. Grove Bank & Trust now owns 1,231 shares of the company’s stock valued at $136,000 after purchasing an additional 840 shares during the period. Finally, Carroll Financial Associates Inc. lifted its stake in shares of Marriott International by 175.6% in the 3rd quarter. Carroll Financial Associates Inc. now owns 1,323 shares of the company’s stock valued at $147,000 after purchasing an additional 843 shares during the period. Hedge funds and other institutional investors own 65.88% of the company’s stock.
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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