Marriott International (NASDAQ:MAR) Issues FY 2024 Earnings Guidance

Marriott International (NASDAQ:MAR) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of 9.190-9.270 for the period, compared to the consensus earnings per share estimate of 9.360. The company issued revenue guidance of -. Marriott International also updated its Q4 guidance to $2.31-2.39 EPS.

Marriott International Trading Up 1.3 %

Shares of Marriott International stock opened at $259.66 on Wednesday. The firm has a market capitalization of $73.10 billion, a PE ratio of 25.97, a price-to-earnings-growth ratio of 6.24 and a beta of 1.58. The firm’s 50 day moving average is $248.41 and its 200 day moving average is $239.43. Marriott International has a 1 year low of $189.34 and a 1 year high of $266.58.

Marriott International (NASDAQ:MAR) last announced its quarterly earnings results on Monday, November 4th. The company reported $2.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.31 by ($0.05). The company had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $6.27 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 5.5% compared to the same quarter last year. During the same period last year, the firm posted $2.11 earnings per share. As a group, research analysts anticipate that Marriott International will post 9.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth

MAR has been the topic of a number of research reports. Bank of America boosted their target price on shares of Marriott International from $275.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, October 21st. UBS Group reduced their target price on shares of Marriott International from $267.00 to $244.00 and set a “neutral” rating on the stock in a report on Tuesday, August 13th. BMO Capital Markets boosted their target price on shares of Marriott International from $255.00 to $265.00 and gave the stock a “market perform” rating in a report on Tuesday. Sanford C. Bernstein boosted their target price on shares of Marriott International from $262.00 to $290.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, Truist Financial dropped their price target on shares of Marriott International from $263.00 to $254.00 and set a “hold” rating on the stock in a research report on Tuesday, August 6th. Thirteen analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Marriott International presently has a consensus rating of “Hold” and an average price target of $259.00.

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, City Express by Marriott, and St.