Share Repurchase Plan Authorized by Marriott International (NASDAQ:MAR) Board

Marriott International (NASDAQ:MAR) declared that its Board of Directors has initiated a stock buyback plan on Thursday, August 7th, RTT News reports. The company plans to buyback 25,000,000 outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Melius Research upgraded Marriott International to a “strong-buy” rating in a research note on Monday, April 21st. Jefferies Financial Group raised Marriott International from a “hold” rating to a “buy” rating and boosted their price target for the company from $226.00 to $303.00 in a report on Monday, May 12th. JPMorgan Chase & Co. started coverage on Marriott International in a research report on Monday, June 23rd. They set a “neutral” rating and a $284.00 target price on the stock. Barclays dropped their price objective on Marriott International from $283.00 to $236.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 22nd. Finally, Dbs Bank raised shares of Marriott International from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 14th. Twelve investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Marriott International currently has an average rating of “Moderate Buy” and an average price target of $280.89.

Marriott International Stock Down 0.8%

Shares of NASDAQ:MAR opened at $260.59 on Friday. The company has a market capitalization of $70.74 billion, a P/E ratio of 29.38, a P/E/G ratio of 2.51 and a beta of 1.44. The stock’s fifty day simple moving average is $268.85 and its 200-day simple moving average is $261.73. Marriott International has a 52-week low of $205.40 and a 52-week high of $307.52.

Marriott International (NASDAQ:MAR) last released its earnings results on Tuesday, August 5th. The company reported $2.65 EPS for the quarter, meeting the consensus estimate of $2.65. The firm had revenue of $6.74 billion during the quarter, compared to analyst estimates of $6.66 billion. Marriott International had a negative return on equity of 93.44% and a net margin of 9.60%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.50 earnings per share. On average, sell-side analysts anticipate that Marriott International will post 10.1 earnings per share for the current year.

Marriott International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Thursday, August 21st will be paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 1.0%. Marriott International’s dividend payout ratio (DPR) is 30.21%.

Insider Buying and Selling at Marriott International

In other Marriott International news, insider Rajeev Menon sold 2,500 shares of Marriott International stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $268.28, for a total transaction of $670,700.00. Following the sale, the insider owned 5,706 shares of the company’s stock, valued at $1,530,805.68. The trade was a 30.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Anthony Capuano sold 12,000 shares of the stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $263.90, for a total transaction of $3,166,800.00. Following the completion of the transaction, the chief executive officer owned 124,067 shares of the company’s stock, valued at $32,741,281.30. This represents a 8.82% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,500 shares of company stock worth $4,107,710 in the last ninety days. 10.68% of the stock is owned by insiders.

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, City Express by Marriott, and St.