Evercore ISI Boosts Marriott International (NASDAQ:MAR) Price Target to $270.00

Marriott International (NASDAQ:MAR) had its price objective increased by Evercore ISI from $245.00 to $270.00 in a research note published on Monday, Benzinga reports. Evercore ISI currently has an in-line rating on the stock.

A number of other equities analysts have also commented on MAR. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Marriott International from $222.00 to $216.00 and set a “hold” rating on the stock in a research report on Thursday, August 1st. Sanford C. Bernstein raised shares of Marriott International from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $247.00 to $262.00 in a report on Thursday, August 29th. Truist Financial cut their price objective on shares of Marriott International from $263.00 to $254.00 and set a “hold” rating on the stock in a report on Tuesday, August 6th. Morgan Stanley cut their price objective on shares of Marriott International from $268.00 to $250.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. Finally, Barclays lifted their price objective on shares of Marriott International from $240.00 to $251.00 and gave the company an “equal weight” rating in a report on Wednesday, July 17th. Thirteen research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Marriott International presently has an average rating of “Hold” and a consensus price target of $256.39.

Marriott International Stock Performance

Shares of NASDAQ:MAR opened at $257.82 on Monday. The firm has a market cap of $73.64 billion, a PE ratio of 26.61, a price-to-earnings-growth ratio of 6.15 and a beta of 1.59. The firm’s 50 day simple moving average is $241.75 and its 200-day simple moving average is $238.66. Marriott International has a one year low of $180.75 and a one year high of $266.58.

Marriott International (NASDAQ:MAR) last issued its earnings results on Wednesday, July 31st. The company reported $2.50 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 12.01% and a negative return on equity of 239.60%. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period last year, the company posted $2.26 earnings per share. Equities research analysts predict that Marriott International will post 9.37 EPS for the current fiscal year.

Marriott International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, August 16th were paid a dividend of $0.63 per share. The ex-dividend date was Friday, August 16th. This represents a $2.52 annualized dividend and a dividend yield of 0.98%. Marriott International’s payout ratio is currently 26.01%.

Institutional Investors Weigh In On Marriott International

Several institutional investors and hedge funds have recently made changes to their positions in MAR. Rockland Trust Co. lifted its position in 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 during the period. Kathmere Capital Management LLC lifted its position in 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 purchasing an additional 42 shares during the period. Park Avenue Securities LLC lifted its position in Marriott International by 1.4% during the second quarter. Park Avenue Securities LLC now owns 3,298 shares of the company’s stock valued at $797,000 after purchasing an additional 46 shares during the period. SeaCrest Wealth Management LLC lifted its position in Marriott International by 1.5% during the second quarter. SeaCrest Wealth Management LLC now owns 3,075 shares of the company’s stock valued at $743,000 after purchasing an additional 46 shares during the period. Finally, Quent Capital LLC lifted its position in Marriott International by 7.9% during the first quarter. Quent Capital LLC now owns 644 shares of the company’s stock valued at $162,000 after purchasing an additional 47 shares during the period. 70.70% of the stock is currently owned by institutional investors and hedge funds.

About Marriott International

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.