Marriott International Inc. (MAR) Downgraded to Hold at Evercore ISI
Evercore ISI lowered shares of Marriott International Inc. (NASDAQ:MAR) from a buy rating to a hold rating in a report released on Monday morning. Evercore ISI currently has $80.00 target price on the stock.
Other equities research analysts have also issued research reports about the stock. Vetr lowered shares of Marriott International from a buy rating to a hold rating and set a $79.18 price objective on the stock. in a research note on Tuesday, November 15th. Telsey Advisory Group dropped their price objective on shares of Marriott International from $74.00 to $70.00 and set a market perform rating on the stock in a research note on Friday, September 23rd. Barclays PLC set a $80.00 price objective on shares of Marriott International and gave the stock a hold rating in a research note on Friday, September 23rd. Zacks Investment Research lowered shares of Marriott International from a hold rating to a sell rating in a research note on Wednesday, October 26th. Finally, Sanford C. Bernstein assumed coverage on shares of Marriott International in a research note on Thursday, September 8th. They set an outperform rating and a $87.00 price objective on the stock. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have issued a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $76.59.
Shares of Marriott International (NASDAQ:MAR) opened at 78.07 on Monday. The firm has a 50-day moving average of $71.28 and a 200 day moving average of $69.54. Marriott International has a 1-year low of $56.43 and a 1-year high of $78.90. The stock has a market cap of $30.48 billion, a price-to-earnings ratio of 27.79 and a beta of 1.23.
Marriott International (NASDAQ:MAR) last announced its quarterly earnings results on Monday, November 7th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. The business had revenue of $3.94 billion for the quarter, compared to analyst estimates of $4.41 billion. Marriott International had a net margin of 4.82% and a negative return on equity of 76.10%. The company’s revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.78 EPS. Equities research analysts forecast that Marriott International will post $3.62 earnings per share for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Thursday, November 24th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Monday, November 21st. This represents a $1.20 dividend on an annualized basis and a yield of 1.53%. Marriott International’s dividend payout ratio is currently 42.25%.
In other Marriott International news, insider John W. Marriott III sold 50,000 shares of Marriott International stock in a transaction on Monday, November 21st. The shares were sold at an average price of $77.38, for a total value of $3,869,000.00. Following the completion of the transaction, the insider now directly owns 523,070 shares of the company’s stock, valued at approximately $40,475,156.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider David A. Rodriguez sold 1,582 shares of Marriott International stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $77.53, for a total transaction of $122,652.46. Following the completion of the transaction, the insider now directly owns 49,392 shares of the company’s stock, valued at $3,829,361.76. The disclosure for this sale can be found here. 17.07% of the stock is currently owned by company insiders.
Several institutional investors have recently modified their holdings of the company. North Star Investment Management Corp. boosted its position in shares of Marriott International by 29.6% in the second quarter. North Star Investment Management Corp. now owns 1,533 shares of the company’s stock worth $102,000 after buying an additional 350 shares during the last quarter. Quadrant Capital Group LLC boosted its position in shares of Marriott International by 84.4% in the third quarter. Quadrant Capital Group LLC now owns 1,835 shares of the company’s stock worth $118,000 after buying an additional 840 shares during the last quarter. Smithfield Trust Co. boosted its position in shares of Marriott International by 54.3% in the second quarter. Smithfield Trust Co. now owns 1,875 shares of the company’s stock worth $125,000 after buying an additional 660 shares during the last quarter. Synovus Financial Corp boosted its position in shares of Marriott International by 11.9% in the third quarter. Synovus Financial Corp now owns 1,880 shares of the company’s stock worth $126,000 after buying an additional 200 shares during the last quarter. Finally, Gradient Investments LLC boosted its position in shares of Marriott International by 0.4% in the second quarter. Gradient Investments LLC now owns 1,958 shares of the company’s stock worth $130,000 after buying an additional 8 shares during the last quarter. 63.96% of the stock is owned by institutional investors and hedge funds.
Marriott International Company Profile
Marriott International, Inc is a lodging company. The Company is an operator, franchisor and licensor of hotels and timeshare properties in approximately 90 countries and territories under over 20 brand names. It operates through three segments: North American Full-Service, which includes brands, such as The Ritz-Carlton, EDITION, JW Marriott, Autograph Collection Hotels, Marriott Hotels, Delta Hotels and Resorts, and Renaissance Hotels located in the United States and Canada; North American Limited-Service, which includes brands, such as AC Hotels by Marriott, Courtyard, Residence Inn, SpringHill Suites, TownePlace Suites properties and Fairfield Inn & Suites located in the United States and Canada, and International, which includes brands, such as Bulgari Hotels & Resorts, Protea Hotels and Moxy Hotels located outside the United States and Canada.
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