Q3 2023 EPS Estimates for Marriott International, Inc. Cut by Zacks Research (NASDAQ:MAR)

Marriott International, Inc. (NASDAQ:MAR) – Equities research analysts at Zacks Research reduced their Q3 2023 earnings per share (EPS) estimates for Marriott International in a report issued on Thursday, September 14th. Zacks Research analyst H. Ray now forecasts that the company will post earnings of $2.01 per share for the quarter, down from their prior forecast of $2.02. The consensus estimate for Marriott International’s current full-year earnings is $8.65 per share. Zacks Research also issued estimates for Marriott International’s Q2 2024 earnings at $2.46 EPS and Q2 2025 earnings at $2.50 EPS.

Other equities analysts have also issued research reports about the company. Morgan Stanley boosted their price objective on Marriott International from $208.00 to $225.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 2nd. Wells Fargo & Company upped their price target on Marriott International from $212.00 to $222.00 and gave the company an “overweight” rating in a research note on Monday, August 7th. Argus upped their price target on Marriott International from $208.00 to $232.00 and gave the company a “buy” rating in a research note on Wednesday, August 2nd. 888 reaffirmed a “maintains” rating on shares of Marriott International in a research note on Tuesday, June 27th. Finally, StockNews.com began coverage on Marriott International in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. One analyst has rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Marriott International presently has a consensus rating of “Hold” and a consensus target price of $211.08.

Marriott International Stock Down 0.5 %

Shares of MAR opened at $203.16 on Friday. The stock has a 50 day moving average price of $200.12 and a 200 day moving average price of $181.47. The stock has a market capitalization of $60.59 billion, a price-to-earnings ratio of 22.90, a PEG ratio of 1.36 and a beta of 1.59. The company has a debt-to-equity ratio of 73.56, a quick ratio of 0.46 and a current ratio of 0.46. Marriott International has a one year low of $135.90 and a one year high of $210.98.

Marriott International (NASDAQ:MAR) last issued its quarterly earnings results on Tuesday, August 1st. The company reported $2.26 EPS for the quarter, topping the consensus estimate of $2.19 by $0.07. Marriott International had a return on equity of 649.26% and a net margin of 12.15%. The firm had revenue of $6.08 billion during the quarter, compared to analysts’ expectations of $5.98 billion. During the same period in the previous year, the business earned $1.80 earnings per share. The firm’s revenue for the quarter was up 13.8% on a year-over-year basis.

Hedge Funds Weigh In On Marriott International

Several hedge funds have recently bought and sold shares of MAR. Northwest Bank & Trust Co acquired a new position in shares of Marriott International in the second quarter worth $29,000. ICA Group Wealth Management LLC acquired a new position in Marriott International in the fourth quarter valued at $28,000. Resurgent Financial Advisors LLC acquired a new position in Marriott International in the fourth quarter valued at $25,000. Ritter Daniher Financial Advisory LLC DE acquired a new position in Marriott International in the fourth quarter valued at $26,000. Finally, Coppell Advisory Solutions Corp. acquired a new position in Marriott International in the fourth quarter valued at $28,000. 58.79% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Marriott International

In related news, Director Eric Hippeau sold 4,300 shares of the company’s stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $174.39, for a total value of $749,877.00. Following the completion of the sale, the director now directly owns 4,072 shares of the company’s stock, valued at approximately $710,116.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Marriott International news, Director Eric Hippeau sold 4,300 shares of the stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $174.39, for a total transaction of $749,877.00. Following the completion of the sale, the director now directly owns 4,072 shares of the company’s stock, valued at approximately $710,116.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider William P. Brown sold 990 shares of the stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $200.09, for a total value of $198,089.10. Following the sale, the insider now directly owns 23,348 shares of the company’s stock, valued at $4,671,701.32. The disclosure for this sale can be found here. Insiders sold a total of 103,723 shares of company stock valued at $21,070,240 in the last three months. 12.32% of the stock is currently owned by company insiders.

Marriott International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Thursday, August 17th will be given a $0.52 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.02%. Marriott International’s dividend payout ratio (DPR) is presently 23.45%.

About Marriott International

Marriott International, Inc operates, franchises, and licenses hotel, residential, timeshare, and other lodging properties worldwide. The company operates through U.S. and Canada, and International segments. It operates its properties under the JW Marriott, The Ritz-Carlton, Ritz-Carlton Reserve, W Hotels, The Luxury Collection, St.