Marriott International Inc (MAR) reported quarterly earnings results on Wednesday, Jul-27-2016. The company said it had a profit of $1.03 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.05. Analysts had a consensus of $0.98. The company posted revenue of $3902.00 million in the period, compared to analysts expectations of $3897.13 million. The company’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.82 EPS.
Many Wall Street Analysts have commented on Marriott International Inc. Company shares were Reiterated by Telsey Advisory Group on Apr 29, 2016 to “Market Perform”, Firm has raised the Price Target to $ 74 from a previous price target of $72 .
Marriott International Inc opened for trading at $69.52 and hit $71.64 on the upside on Thursday, eventually ending the session at $71.53, with a gain of 1.40% or 0.99 points. The heightened volatility saw the trading volume jump to 36,53,241 shares. Company has a market cap of $18,185 M.
In a different news, on Jun 23, 2016, J W Jr Marriott (Chairman) sold 30,000 shares at $67.81 per share price. According to the SEC, on Jun 16, 2016, Anthony Capuano (EVP- Chief Development Officer) sold 18,111 shares at $66.51 per share price. On Jun 15, 2016, Mary K Bush (director) sold 1,750 shares at $65.79 per share price, according to the Form-4 filing with the securities and exchange commission.
Marriott International Inc. is a diversified global lodging company. The Company is an operator franchisor and licensor of hotels and timeshare properties across the world. It also operates markets and develops residential properties and provides services to home/condominium owner associations. It has three segments: North American Full-Service North American Limited-Service and International. The Company’s brands include The Ritz-Carlton BVLGARI Hotels & Resorts EDITION JW Marriott Autograph Collection Hotels Renaissance Hotels Marriott Hotels Marriott Executive Apartments Marriott Vacation Club Gaylord Hotels AC Hotels by Marriott Courtyard by Marriott Residence Inn by Marriott SpringHill Suites by Marriott Fairfield Inn & Suites TownePlace Suites by Marriott Protea Hotels and Moxy Hotels. It operates franchises or licenses approximately 4175 properties across the world with around 714765 rooms inclusive of around 41 home and condominium products.