Zacks Investment Research lowered shares of Marriott International (NASDAQ:MAR) from a hold rating to a sell rating in a research report released on Monday morning, Zacks.com reports. They currently have $85.00 price objective on the stock.
According to Zacks, “Shares of Marriott have underperformed the industry in the past year. With travel resuming and economies reopening, Marriot has reopened all of its hotels in the Chinese Mainland. The company also announced that it is witnessing steady recovery in the U.S. markets as well. Notably, occupancy rates have improved significantly. However, the coronavirus pandemic still remains a concern. Due to this, RevPAR have also declined significantly. Owing to the crisis, the company has not only suspended dividends and share repurchase program but has also withdrawn its 2020 guidance. Notably, estimates for 2020 have witnessed downward revisions in the past 30 days, depicting analysts concern regarding the stock's earnings growth potential.”
Other equities analysts also recently issued reports about the company. UBS Group lowered their price target on Marriott International from $148.00 to $94.00 and set a neutral rating for the company in a report on Monday, May 4th. Gordon Haskett started coverage on Marriott International in a report on Thursday, June 25th. They issued a hold rating and a $89.00 price target for the company. Deutsche Bank lowered their price target on Marriott International from $124.00 to $88.00 and set a hold rating for the company in a report on Tuesday, May 12th. Nomura Instinet upped their price target on Marriott International from $123.00 to $148.00 and gave the company a buy rating in a report on Tuesday, June 23rd. Finally, Nomura upped their price target on Marriott International from $123.00 to $148.00 and gave the company a buy rating in a report on Tuesday, June 23rd. Two investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $110.43.
Marriott International (NASDAQ:MAR) last announced its quarterly earnings results on Monday, May 11th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.90 by ($0.64). The business had revenue of $4.68 billion during the quarter, compared to analyst estimates of $4.03 billion. Marriott International had a net margin of 4.50% and a return on equity of 231.22%. The business’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same period last year, the company earned $1.41 earnings per share. On average, sell-side analysts predict that Marriott International will post 0.66 earnings per share for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in the business. Public Investment Fund acquired a new stake in Marriott International in the first quarter valued at $513,931,000. Norges Bank purchased a new position in shares of Marriott International in the 4th quarter worth about $413,675,000. Victory Capital Management Inc. raised its holdings in shares of Marriott International by 701.2% in the 1st quarter. Victory Capital Management Inc. now owns 1,805,987 shares of the company’s stock worth $135,106,000 after purchasing an additional 1,580,576 shares during the period. AKO Capital LLP purchased a new position in shares of Marriott International in the 1st quarter worth about $109,145,000. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of Marriott International by 17.8% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 9,550,731 shares of the company’s stock worth $1,446,269,000 after purchasing an additional 1,444,875 shares during the period. Hedge funds and other institutional investors own 62.83% of the company’s stock.
About Marriott International
Marriott International, Inc operates, franchises, and licenses hotel, residential, and timeshare properties worldwide. The company operates through North American Full-Service, North American Limited-Service, and Asia Pacific segments. It operates its properties under the JW Marriott, The Ritz-Carlton, Ritz-Carlton Reserve, W Hotels, The Luxury Collection, St.
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