Brokers Issue Forecasts for Marriott International, Inc.’s Q3 2024 Earnings (NASDAQ:MAR)

Marriott International, Inc. (NASDAQ:MAR) – Research analysts at Zacks Research lowered their Q3 2024 earnings per share estimates for Marriott International in a note issued to investors on Wednesday, August 14th. Zacks Research analyst H. Ray now forecasts that the company will post earnings per share of $2.30 for the quarter, down from their prior estimate of $2.47. The consensus estimate for Marriott International’s current full-year earnings is $9.29 per share. Zacks Research also issued estimates for Marriott International’s Q4 2024 earnings at $2.44 EPS, FY2024 earnings at $9.37 EPS, Q2 2025 earnings at $2.80 EPS, Q3 2025 earnings at $2.69 EPS, FY2025 earnings at $10.75 EPS, Q2 2026 earnings at $3.07 EPS and FY2026 earnings at $11.89 EPS.

MAR has been the topic of a number of other research reports. Mizuho upped their price objective on Marriott International from $260.00 to $265.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. UBS Group decreased their price objective on shares of Marriott International from $267.00 to $244.00 and set a “neutral” rating for the company in a research report on Tuesday, August 13th. Robert W. Baird dropped their target price on shares of Marriott International from $252.00 to $245.00 and set a “neutral” rating on the stock in a report on Thursday, August 1st. JPMorgan Chase & Co. lifted their price target on Marriott International from $235.00 to $255.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. Finally, Macquarie reaffirmed a “neutral” rating and issued a $245.00 price objective on shares of Marriott International in a research report on Friday, August 2nd. Fourteen equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $242.39.

Marriott International Price Performance

Shares of NASDAQ MAR opened at $225.15 on Monday. The business has a 50-day moving average of $234.85 and a 200-day moving average of $240.31. Marriott International has a fifty-two week low of $180.75 and a fifty-two week high of $260.57. The stock has a market capitalization of $64.31 billion, a price-to-earnings ratio of 23.24, a PEG ratio of 4.24 and a beta of 1.60.

Marriott International (NASDAQ:MAR) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.49 by $0.01. Marriott International had a net margin of 12.01% and a negative return on equity of 239.60%. The business had revenue of $6.44 billion for the quarter, compared to analyst estimates of $6.47 billion. During the same quarter in the previous year, the firm posted $2.26 earnings per share. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis.

Institutional Investors Weigh In On Marriott International

A number of large investors have recently bought and sold shares of MAR. Norges Bank acquired a new position in Marriott International during the 4th quarter worth approximately $461,525,000. Jennison Associates LLC boosted its position in Marriott International by 34.8% during the fourth quarter. Jennison Associates LLC now owns 4,547,098 shares of the company’s stock valued at $1,025,416,000 after acquiring an additional 1,173,028 shares during the last quarter. Capital International Investors grew its stake in Marriott International by 42.2% during the fourth quarter. Capital International Investors now owns 3,147,501 shares of the company’s stock worth $709,793,000 after purchasing an additional 934,304 shares during the period. Global Assets Advisory LLC acquired a new stake in shares of Marriott International during the 1st quarter worth approximately $153,697,000. Finally, Public Employees Retirement Association of Colorado boosted its stake in Marriott International by 557.2% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 496,505 shares of the company’s stock worth $111,967,000 after acquiring an additional 420,962 shares in the last quarter. 70.70% of the stock is currently owned by institutional investors and hedge funds.

Marriott International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, August 16th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 1.12%. The ex-dividend date is Friday, August 16th. Marriott International’s dividend payout ratio (DPR) is currently 26.01%.

About Marriott International

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, and City Express by Marriott brand names, as well as operates residences, timeshares, and yachts.