Marriott International earnings for the first quarter of 2019 have MAR stock heading lower on Friday.
The bad news for Marriott International (NASDAQ:MAR) starts with its guidance update. The company is now expecting earnings per share for 2019 to range from $5.97 to $6.19. This would have it being flat to down 4% from its earnings per share of $6.21 in the same period of the year prior.
It’s also worth noting that Wall Street is looking for earnings per share of $6.09 for the full year of 2019. Marriott International’s earnings per share outlook range covers this, but the midpoint is still below that estimate.
The Marriott International earnings report for the first quarter of 2019 also includes its outlook for the second quarter of the year. The hotel company is expecting earnings per share for the period to come in between $1.52 and $1.58. Unfortunately for MAR stock, analysts are estimating earnings per share of $1.62 for the quarter.
The Marriott International earnings report also isn’t doing MAR stock any favors with its mixed results for the quarter. The company’s earnings per share come in at $1.41 on revenue of $5.01 billion. However, Wall Street was expecting it to report earnings per share of $1.34 on revenue of $5.11 billion for the period.
Marriott International also announced today that it is increasing its dividend for shareholders. It will now be paying a quarterly dividend of 48 cents per share, which is a 17% increase over the previous amount. The dividend is payable June 28, 2019 to holders of MAR stock that are on record as of May 24, 2019.
MAR stock was down 4% as of noon Friday.
As of this writing, William White did not hold a position in any of the aforementioned securities.