Marriott International (NASDAQ:MAR) Updates Q4 Earnings Guidance

Marriott International (NASDAQ:MAR) issued an update on its fourth quarter earnings guidance on Monday morning. The company provided earnings per share guidance of $2.31-2.39 for the period, compared to the consensus earnings per share estimate of $2.42. Marriott International also updated its FY 2024 guidance to 9.190-9.270 EPS.

Marriott International Trading Up 6.0 %

Shares of NASDAQ:MAR traded up $15.45 on Wednesday, reaching $275.11. 504,133 shares of the company were exchanged, compared to its average volume of 1,466,202. The firm has a market cap of $77.45 billion, a price-to-earnings ratio of 25.97, a price-to-earnings-growth ratio of 6.24 and a beta of 1.58. Marriott International has a 1-year low of $189.44 and a 1-year high of $276.32. The company has a 50-day moving average of $248.41 and a 200-day moving average of $239.43.

Marriott International (NASDAQ:MAR) last issued its quarterly earnings data on Monday, November 4th. The company reported $2.26 EPS for the quarter, missing analysts’ consensus estimates of $2.31 by ($0.05). The business had revenue of $6.26 billion during the quarter, compared to analyst estimates of $6.27 billion. Marriott International had a net margin of 12.01% and a negative return on equity of 239.60%. Marriott International’s revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the company posted $2.11 earnings per share. As a group, analysts forecast that Marriott International will post 9.37 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. TD Cowen lowered their price objective on shares of Marriott International from $295.00 to $283.00 and set a “buy” rating on the stock in a research note on Tuesday. Mizuho upped their target price on shares of Marriott International from $233.00 to $246.00 and gave the company a “neutral” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Marriott International from $222.00 to $216.00 and set a “hold” rating on the stock in a report on Thursday, August 1st. Sanford C. Bernstein upped their target price on shares of Marriott International from $262.00 to $290.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, BMO Capital Markets upped their target price on shares of Marriott International from $255.00 to $265.00 and gave the company a “market perform” rating in a report on Tuesday. Thirteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $259.00.

Marriott International Company Profile

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.