Marriott Vacations Worldwide (NYSE:VAC) Releases Quarterly Earnings Results, Beats Estimates By $0.27 EPS

Marriott Vacations Worldwide (NYSE:VAC) announced its earnings results on Wednesday. The company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.27, reports. The company had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.27 billion. Marriott Vacations Worldwide had a return on equity of 9.89% and a net margin of 3.41%. Marriott Vacations Worldwide updated its FY24 guidance to $6.05-6.40 EPS and its FY 2024 guidance to 6.050-6.400 EPS.

Marriott Vacations Worldwide Price Performance

Marriott Vacations Worldwide stock traded up $0.04 during midday trading on Friday, hitting $96.02. 181,405 shares of the company’s stock were exchanged, compared to its average volume of 462,843. Marriott Vacations Worldwide has a 52-week low of $67.28 and a 52-week high of $108.57. The stock has a 50-day moving average price of $75.64 and a two-hundred day moving average price of $82.76. The company has a debt-to-equity ratio of 2.21, a quick ratio of 2.72 and a current ratio of 3.28. The company has a market cap of $3.37 billion, a P/E ratio of 22.74, a PEG ratio of 0.73 and a beta of 1.79.

Marriott Vacations Worldwide Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 19th were given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 3.17%. The ex-dividend date was Thursday, September 19th. Marriott Vacations Worldwide’s payout ratio is 72.04%.

Insider Buying and Selling

In other Marriott Vacations Worldwide news, insider Jason P. Marino purchased 700 shares of the stock in a transaction on Wednesday, September 11th. The stock was acquired at an average price of $69.00 per share, with a total value of $48,300.00. Following the transaction, the insider now directly owns 15,851 shares of the company’s stock, valued at approximately $1,093,719. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in VAC. Wealth Enhancement Advisory Services LLC bought a new position in shares of Marriott Vacations Worldwide in the 1st quarter worth approximately $578,000. Allspring Global Investments Holdings LLC grew its stake in shares of Marriott Vacations Worldwide by 615.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 286 shares of the company’s stock worth $31,000 after buying an additional 246 shares during the last quarter. Fidelis Capital Partners LLC purchased a new stake in shares of Marriott Vacations Worldwide in the 1st quarter worth approximately $41,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in shares of Marriott Vacations Worldwide in the 1st quarter worth approximately $218,000. Finally, Texas Permanent School Fund Corp grew its stake in shares of Marriott Vacations Worldwide by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 28,862 shares of the company’s stock worth $3,109,000 after buying an additional 393 shares during the last quarter. Institutional investors own 89.52% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on VAC. The Goldman Sachs Group began coverage on Marriott Vacations Worldwide in a report on Wednesday, September 18th. They set a “sell” rating and a $62.00 price target on the stock. StockNews.com lowered Marriott Vacations Worldwide from a “hold” rating to a “sell” rating in a research note on Friday, July 19th. Truist Financial lowered their target price on Marriott Vacations Worldwide from $161.00 to $159.00 and set a “buy” rating on the stock in a research note on Friday, July 19th. Stifel Nicolaus lowered their target price on Marriott Vacations Worldwide from $108.00 to $96.50 and set a “buy” rating on the stock in a research note on Friday, September 13th. Finally, Barclays lowered their target price on Marriott Vacations Worldwide from $82.00 to $74.00 and set an “equal weight” rating on the stock in a research note on Thursday, September 26th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $96.65.

Marriott Vacations Worldwide Company Profile

Marriott Vacations Worldwide Corporation, a vacation company, develops, markets, sells, and manages vacation ownership and related businesses, products, and services in the United States and internationally. It operates through two segments, Vacation Ownership and Exchange & Third-Party Management.