Marriott International (NASDAQ:MAR) Price Target Raised to $300.00 at Bank of America

Marriott International (NASDAQ:MAR) had its target price boosted by Bank of America from $275.00 to $300.00 in a research note released on Monday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research firms have also weighed in on MAR. UBS Group lowered their price target on Marriott International from $267.00 to $244.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 13th. Sanford C. Bernstein raised shares of Marriott International from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $247.00 to $262.00 in a research report on Thursday, August 29th. Evercore ISI lifted their price objective on shares of Marriott International from $245.00 to $270.00 and gave the company an “in-line” rating in a research report on Monday. Robert W. Baird set a $258.00 target price on shares of Marriott International in a report on Thursday. Finally, Morgan Stanley reduced their price target on Marriott International from $268.00 to $250.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $253.16.

Marriott International Stock Down 0.2 %

Shares of MAR stock opened at $264.97 on Monday. Marriott International has a 12 month low of $180.75 and a 12 month high of $266.58. The company’s fifty day simple moving average is $239.95 and its 200-day simple moving average is $238.44. The firm has a market cap of $75.68 billion, a PE ratio of 27.34, a P/E/G ratio of 6.15 and a beta of 1.59.

Marriott International (NASDAQ:MAR) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $2.50 EPS for the quarter, topping the consensus estimate of $2.49 by $0.01. The firm had revenue of $6.44 billion for the quarter, compared to analysts’ expectations of $6.47 billion. Marriott International had a net margin of 12.01% and a negative return on equity of 239.60%. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.26 EPS. On average, equities analysts predict that Marriott International will post 9.37 earnings per share for the current fiscal year.

Marriott International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, August 16th were paid a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 0.95%. The ex-dividend date was Friday, August 16th. Marriott International’s dividend payout ratio (DPR) is 26.01%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Bangor Savings Bank grew its position in Marriott International by 131.1% during the second quarter. Bangor Savings Bank now owns 104 shares of the company’s stock worth $25,000 after buying an additional 59 shares in the last quarter. Hantz Financial Services Inc. acquired a new stake in shares of Marriott International during the 2nd quarter worth $26,000. MFA Wealth Advisors LLC acquired a new position in Marriott International in the second quarter valued at about $28,000. Annapolis Financial Services LLC bought a new stake in Marriott International during the first quarter worth about $34,000. Finally, Unique Wealth Strategies LLC bought a new position in Marriott International in the 2nd quarter valued at about $35,000. 70.70% of the stock is owned by institutional investors.

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.