Marriott International (MAR) Price Target Raised to $115.00 at Robert W. Baird
Marriott International (NASDAQ:MAR) had its price objective upped by Robert W. Baird from $111.00 to $115.00 in a research note released on Friday morning. The firm currently has a neutral rating on the stock.
A number of other research analysts have also weighed in on the company. Zacks Investment Research raised Marriott International from a hold rating to a buy rating and set a $130.00 price objective on the stock in a report on Thursday, October 26th. Wolfe Research raised Marriott International from a market perform rating to an outperform rating in a report on Wednesday, August 30th. BidaskClub lowered Marriott International from a strong-buy rating to a buy rating in a report on Thursday, October 5th. Stifel Nicolaus reaffirmed a hold rating and set a $98.00 price objective on shares of Marriott International in a report on Thursday, October 12th. Finally, Royal Bank Of Canada reaffirmed a buy rating on shares of Marriott International in a report on Tuesday, November 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $106.64.
Marriott International (NASDAQ MAR) traded up $1.30 during trading on Friday, hitting $120.11. The stock had a trading volume of 3,377,000 shares, compared to its average volume of 2,456,549. Marriott International has a twelve month low of $72.75 and a twelve month high of $124.34. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.52 and a quick ratio of 0.52. The stock has a market capitalization of $43,789.86, a PE ratio of 29.37, a PEG ratio of 3.00 and a beta of 1.34.
Marriott International (NASDAQ:MAR) last released its quarterly earnings results on Tuesday, November 7th. The company reported $1.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.12. Marriott International had a return on equity of 31.58% and a net margin of 6.30%. The business had revenue of $5.66 billion during the quarter, compared to analysts’ expectations of $5.22 billion. During the same quarter in the prior year, the business earned $0.91 earnings per share. The company’s quarterly revenue was up 43.7% compared to the same quarter last year. sell-side analysts expect that Marriott International will post 4.24 EPS for the current fiscal year.
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Marriott International declared that its board has authorized a stock buyback program on Thursday, November 9th that allows the company to buyback 30,000,000 outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Wednesday, November 22nd will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, November 21st. This represents a $1.32 annualized dividend and a yield of 1.10%. Marriott International’s dividend payout ratio (DPR) is presently 35.87%.
In other news, insider Deborah Marriott Harrison sold 130,000 shares of the firm’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $119.17, for a total value of $15,492,100.00. Following the transaction, the insider now directly owns 114,155 shares in the company, valued at approximately $13,603,851.35. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Edward A. Ryan sold 4,453 shares of the firm’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $103.81, for a total value of $462,265.93. Following the completion of the transaction, the executive vice president now owns 80,406 shares in the company, valued at $8,346,946.86. The disclosure for this sale can be found here. Insiders have sold 210,727 shares of company stock worth $23,836,500 over the last quarter. 11.32% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in MAR. FMR LLC raised its holdings in shares of Marriott International by 32.5% during the 2nd quarter. FMR LLC now owns 15,406,182 shares of the company’s stock valued at $1,545,394,000 after buying an additional 3,780,639 shares during the period. Capital Research Global Investors raised its holdings in shares of Marriott International by 7.2% during the 2nd quarter. Capital Research Global Investors now owns 12,763,000 shares of the company’s stock valued at $1,280,257,000 after buying an additional 862,710 shares during the period. Janus Henderson Group PLC raised its holdings in shares of Marriott International by 1,881.3% during the 2nd quarter. Janus Henderson Group PLC now owns 887,490 shares of the company’s stock valued at $89,025,000 after buying an additional 842,696 shares during the period. Koch Industries Inc. purchased a new stake in shares of Marriott International during the 2nd quarter valued at about $629,000. Finally, Los Angeles Capital Management & Equity Research Inc. raised its holdings in shares of Marriott International by 385.9% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 707,256 shares of the company’s stock valued at $70,945,000 after buying an additional 561,707 shares during the period. Institutional investors and hedge funds own 65.88% of the company’s stock.
About Marriott International
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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