Marriott International Inc (MAR) was Reiterated by Telsey Advisory Group to “Market Perform” while Lowering the Price Target of the company shares to $ 70 from a previous price target of $74 . Telsey Advisory Group advised their investors in a research report released on Sep 23, 2016.
On the company’s financial health, Marriott International Inc reported $1.03 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $0.98. The company had revenue of $3902.00 million for the quarter, 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.
Marriott International Inc closed down -0.39 points or -0.56% at $69.75 with 1,75,62,130 shares getting traded on Thursday. Post opening the session at $70.54, the shares hit an intraday low of $69.51 and an intraday high of $70.73 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.
In a different news, on Aug 24, 2016, Craig S. Smith (Pres. Mgn. Dir. Asia Pacific) sold 1,373 shares at $73.30 per share price. According to the SEC, on Aug 22, 2016, Anthony Capuano (EVP- Chief Development Officer) sold 22,538 shares at $73.60 per share price. On Aug 2, 2016, Argiris Kyriakidis (Pres. Mgn. Director MEA) sold 3,000 shares at $71.49 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.