Marriott International (NASDAQ:MAR) Inc. has reached a new pinnacle as its stock price soared to an all-time high of $268.52. This remarkable milestone underscores the company's robust performance and investor confidence, reflecting a significant 1-year change with an impressive 38.06% increase. The hospitality giant's shares have been riding a wave of positive momentum, buoyed by a strong recovery in the travel and tourism sector, which has been bouncing back after the challenges posed by the global pandemic. Investors are closely monitoring Marriott's trajectory as it continues to set new records in the stock market.
In other recent news, Marriott International has been the subject of various financial adjustments and projections. The company's third-quarter revenue per available room (RevPAR) increased by 3%, and a 2-3% increase is anticipated for the fourth quarter. TD Cowen and Goldman Sachs (NYSE:GS) have maintained their Buy rating on Marriott, while BMO Capital Markets and Mizuho (NYSE:MFG) Securities have retained their Market Perform and Neutral ratings respectively.
Baird has raised Marriott's price target, citing the company's cost-saving plans and anticipated improvements in organic net unit growth. These cost-saving measures, aiming to cut $80-90 million in general and administrative (G&A) expenses, are expected to contribute positively to Marriott's financials.
The recent developments also include the launch of a new mid-scale brand, City Express by Marriott, and a record 219 million members in its loyalty program. Despite challenges in Greater China and flat leisure demand, Marriott's strategic adjustments and financial outlook are being closely monitored by the market as the company navigates through its growth and cost management plans.
Analysts anticipate that Marriott's organic net unit growth will see gradual improvements starting in 2025. The company's recent general and administrative (G&A) expense reductions are also expected to enhance earnings estimates.
InvestingPro Insights
Marriott International's recent stock performance aligns with several key metrics and insights from InvestingPro. The company's market capitalization stands at an impressive $75.54 billion, reflecting its dominant position in the hospitality industry. Marriott's financial health is further underscored by its robust gross profit margin of 81.95% for the last twelve months as of Q3 2024, which InvestingPro Tips highlight as "impressive gross profit margins."
The stock's strong performance is also evident in its recent price movements. InvestingPro data shows a 20.98% price total return over the past three months, corroborating the article's mention of positive momentum. This is further supported by an InvestingPro Tip noting a "strong return over the last three months."
Additionally, Marriott is trading near its 52-week high, with the current price at 97.4% of that peak. This aligns with another InvestingPro Tip indicating that the stock is "trading near 52-week high," which is consistent with the article's report of the stock reaching an all-time high.
For investors seeking more comprehensive insights, InvestingPro offers 16 additional tips for Marriott International, providing a deeper analysis of the company's financial health and market position.
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