Marriott International Inc. (NASDAQ:MAR) on Wednesday posted stronger-than-expected first-quarter results.

Adjusted EPS came in at $2.72, beating analyst estimates of $2.55. Revenue increased 6% year over year to $6.65 billion, topping estimates of $6.59 billion.

CEO Anthony Capuano said, "We delivered excellent first quarter results, reflecting the strength of our brands, our unmatched global footprint, and the resilience of demand for travel."

The company raised its full-year gross fee revenue outlook to $5.93 billion to $5.99 billion (up 9 to 10%) and adjusted EBITDA of $5.88 billion to $5.97 billion. Adjusted diluted EPS is expected between $11.38 and $11.63, versus estimates of $11.60.

For the second quarter, Marriott expects adjusted EPS of $2.99 to $3.06, compared with analyst estimates of $3.06. The outlook assumes continued Middle East travel disruption, including an expected roughly 50% RevPAR decline in the region during the second quarter, which would reduce full-year global RevPAR growth by 100 to 125 basis points.

Marriott shares fell 2.2% to trade at $351.13 on Thursday.

These analysts made changes to their price targets on Marriott following earnings announcement.

  • Baird analyst Michael Bellisario maintained the stock with a Neutral and lowered the price target from $388 to $386.
  • Mizuho analyst Ben Chaiken maintained the stock with a Neutral and raised the price target from $343 to $384.
  • Wells Fargo analyst Trey Bowers maintained Marriott with an Overweight rating and raised the price target from $443 to $446.
  • Barclays analyst Brandt Montour maintained the stock with an Equal-Weight rating and raised the price target from $372 to $376.

Considering buying MAR stock? Here’s what analysts think:

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