Marriott International, Inc. (NASDAQ:MAR) Plans $0.63 Quarterly Dividend

Marriott International, Inc. (NASDAQ:MAR) declared a quarterly dividend on Thursday, November 7th,RTT News reports. Shareholders of record on Thursday, November 21st will be paid a dividend of 0.63 per share on Tuesday, December 31st. This represents a $2.52 annualized dividend and a yield of 0.91%.

Marriott International has increased its dividend by an average of 59.8% annually over the last three years. Marriott International has a dividend payout ratio of 23.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Marriott International to earn $10.65 per share next year, which means the company should continue to be able to cover its $2.52 annual dividend with an expected future payout ratio of 23.7%.

Marriott International Stock Up 0.6 %

MAR stock traded up $1.56 during midday trading on Thursday, hitting $277.82. 1,454,033 shares of the company traded hands, compared to its average volume of 1,473,759. Marriott International has a twelve month low of $192.04 and a twelve month high of $278.50. The business has a 50 day simple moving average of $249.39 and a 200-day simple moving average of $239.69. The stock has a market capitalization of $78.21 billion, a price-to-earnings ratio of 29.08, a price-to-earnings-growth ratio of 6.21 and a beta of 1.58.

Marriott International (NASDAQ:MAR) last announced its quarterly earnings results on Monday, November 4th. The company reported $2.26 EPS for the quarter, missing the consensus estimate of $2.31 by ($0.05). Marriott International had a net margin of 11.18% and a negative return on equity of 207.04%. The company had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.27 billion. During the same quarter last year, the business earned $2.11 EPS. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. Equities research analysts forecast that Marriott International will post 9.27 EPS for the current year.

Insider Activity

In other news, EVP Benjamin T. Breland sold 500 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $274.49, for a total value of $137,245.00. Following the completion of the sale, the executive vice president now directly owns 12,286 shares in the company, valued at approximately $3,372,384.14. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 12.32% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MAR. Truist Financial reduced their price objective on Marriott International from $263.00 to $254.00 and set a “hold” rating for the company in a research report on Tuesday, August 6th. UBS Group reduced their price objective on Marriott International from $267.00 to $244.00 and set a “neutral” rating for the company in a research report on Tuesday, August 13th. Macquarie reissued a “neutral” rating and issued a $245.00 price objective on shares of Marriott International in a research report on Tuesday. Barclays raised their target price on Marriott International from $240.00 to $249.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Finally, The Goldman Sachs Group initiated coverage on Marriott International in a research report on Wednesday, September 18th. They issued a “buy” rating and a $267.00 target price for the company. Thirteen analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $259.00.

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.