Marriott (MAR) Releases FY12 Earnings Guidance
Marriott (MAR) updated its FY12 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $1.68-1.72 for the period. Marriott also updated its Q4 guidance to $0.52-0.56 EPS.
Shares of Marriott (MAR) traded up 0.96% during mid-day trading on Wednesday, hitting $39.00. Marriott (MAR) has a 52 week low of $26.71 and a 52 week high of $41.84. The company has a market cap of $12.588 billion and a P/E ratio of 63.96.
Marriott last released its earnings data on Wednesday, October 3rd. The company reported $0.44 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.40 by $0.04. The company’s revenue for the quarter was down 5.0% on a year-over-year basis. Analysts expect that Marriott (MAR) will post $1.69 EPS for the current fiscal year.
MAR has been the subject of a number of recent research reports. Analysts at Atlantic Securities reiterated a neutral rating on shares of Marriott in a research note to investors on Wednesday. They now have a $38.00 price target on the stock. On a related note, analysts at Keefe, Bruyette & Woods downgraded shares of Marriott from an outperform rating to a market perform rating in a research note to investors on Tuesday, September 25th. They now have a $42.00 price target on the stock. They noted that the move was a valuation call. Finally, analysts at JPMorgan Chase downgraded shares of Marriott from an overweight rating to a neutral rating in a research note to investors on Thursday, September 20th. They now have a $42.00 price target on the stock.
Marriott International, Inc. is a worldwide operator and franchisor of hotels and related lodging facilities.
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