Marriott International (NASDAQ:MAR) Reaches New 52-Week High – What’s Next?

Marriott International, Inc. (NASDAQ:MAR)’s share price hit a new 52-week high on Wednesday . The company traded as high as $262.40 and last traded at $261.84, with a volume of 387383 shares changing hands. The stock had previously closed at $256.58.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MAR. The Goldman Sachs Group began coverage on Marriott International in a research note on Wednesday, September 18th. They set a “buy” rating and a $267.00 price target for the company. UBS Group reduced their price target on shares of Marriott International from $267.00 to $244.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 13th. Truist Financial dropped their price objective on shares of Marriott International from $263.00 to $254.00 and set a “hold” rating for the company in a research report on Tuesday, August 6th. Robert W. Baird decreased their price target on shares of Marriott International from $252.00 to $245.00 and set a “neutral” rating for the company in a research report on Thursday, August 1st. Finally, JPMorgan Chase & Co. raised their price objective on Marriott International from $235.00 to $255.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. Twelve equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Marriott International presently has a consensus rating of “Hold” and an average price target of $248.65.

Marriott International Stock Performance

The firm has a market cap of $74.71 billion, a price-to-earnings ratio of 26.48, a price-to-earnings-growth ratio of 5.68 and a beta of 1.59. The business’s 50 day moving average price is $231.64 and its 200-day moving average price is $237.71.

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

Marriott International Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend was Friday, August 16th. Marriott International’s payout ratio is 26.01%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of MAR. Rockland Trust Co. raised its stake in shares of Marriott International by 2.3% during the second quarter. Rockland Trust Co. now owns 1,802 shares of the company’s stock valued at $436,000 after purchasing an additional 41 shares in the last quarter. Moody National Bank Trust Division boosted its holdings in shares of Marriott International by 1.2% in the first quarter. Moody National Bank Trust Division now owns 3,673 shares of the company’s stock valued at $927,000 after acquiring an additional 42 shares in the last quarter. Kathmere Capital Management LLC increased its stake in shares of Marriott International by 1.2% during the first quarter. Kathmere Capital Management LLC now owns 3,599 shares of the company’s stock valued at $908,000 after acquiring an additional 42 shares during the period. Park Avenue Securities LLC raised its holdings in Marriott International by 1.4% during the second quarter. Park Avenue Securities LLC now owns 3,298 shares of the company’s stock worth $797,000 after purchasing an additional 46 shares in the last quarter. Finally, SeaCrest Wealth Management LLC lifted its position in Marriott International by 1.5% in the second quarter. SeaCrest Wealth Management LLC now owns 3,075 shares of the company’s stock worth $743,000 after purchasing an additional 46 shares during the period. Institutional investors own 70.70% of the company’s stock.

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.