Marriott Vacations Worldwide (NYSE:VAC) Releases Quarterly Earnings Results, Beats Estimates By $0.27 EPS

Marriott Vacations Worldwide (NYSE:VAC) announced its quarterly earnings results on Wednesday. The company reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.53 by $0.27, reports. Marriott Vacations Worldwide had a return on equity of 9.89% and a net margin of 3.41%. The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.27 billion. Marriott Vacations Worldwide updated its FY24 guidance to $6.05-6.40 EPS and its FY 2024 guidance to 6.050-6.400 EPS.

Marriott Vacations Worldwide Price Performance

Shares of VAC traded up $0.04 during trading hours on Friday, reaching $96.02. 181,405 shares of the stock traded hands, compared to its average volume of 462,843. The company has a current ratio of 3.28, a quick ratio of 2.72 and a debt-to-equity ratio of 2.21. Marriott Vacations Worldwide has a 52-week low of $67.28 and a 52-week high of $108.57. The company’s 50-day moving average price is $75.64 and its two-hundred day moving average price is $82.76. The company has a market cap of $3.37 billion, a P/E ratio of 22.74, a price-to-earnings-growth ratio of 0.73 and a beta of 1.79.

Marriott Vacations Worldwide Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 19th were paid a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date of this dividend was Thursday, September 19th. Marriott Vacations Worldwide’s dividend payout ratio (DPR) is 72.04%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. StockNews.com downgraded shares of Marriott Vacations Worldwide from a “hold” rating to a “sell” rating in a report on Friday, July 19th. Deutsche Bank Aktiengesellschaft reduced their price objective on Marriott Vacations Worldwide from $121.00 to $95.00 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Stifel Nicolaus reduced their price target on shares of Marriott Vacations Worldwide from $108.00 to $96.50 and set a “buy” rating for the company in a research report on Friday, September 13th. The Goldman Sachs Group assumed coverage on shares of Marriott Vacations Worldwide in a report on Wednesday, September 18th. They issued a “sell” rating and a $62.00 price objective on the stock. Finally, Truist Financial reduced their target price on shares of Marriott Vacations Worldwide from $161.00 to $159.00 and set a “buy” rating for the company in a report on Friday, July 19th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $96.65.

Insider Activity at Marriott Vacations Worldwide

In other news, insider Jason P. Marino bought 700 shares of the stock in a transaction that occurred on Wednesday, September 11th. The shares were bought at an average price of $69.00 per share, for a total transaction of $48,300.00. Following the purchase, the insider now owns 15,851 shares in the company, valued at $1,093,719. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 1.30% of the stock is owned by corporate insiders.

Institutional Trading of Marriott Vacations Worldwide

Several hedge funds have recently bought and sold shares of the stock. Pathstone Holdings LLC lifted its stake in Marriott Vacations Worldwide by 3.6% in the 3rd quarter. Pathstone Holdings LLC now owns 153,860 shares of the company’s stock worth $11,306,000 after purchasing an additional 5,391 shares in the last quarter. Connable Office Inc. lifted its stake in Marriott Vacations Worldwide by 28.6% in the 3rd quarter. Connable Office Inc. now owns 4,447 shares of the company’s stock worth $327,000 after purchasing an additional 990 shares in the last quarter. MQS Management LLC increased its holdings in shares of Marriott Vacations Worldwide by 180.4% in the 3rd quarter. MQS Management LLC now owns 9,260 shares of the company’s stock worth $680,000 after buying an additional 5,957 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Marriott Vacations Worldwide by 0.5% in the 3rd quarter. Victory Capital Management Inc. now owns 767,818 shares of the company’s stock worth $56,419,000 after buying an additional 3,983 shares during the last quarter. Finally, New South Capital Management Inc. increased its holdings in shares of Marriott Vacations Worldwide by 6.6% in the 3rd quarter. New South Capital Management Inc. now owns 364,394 shares of the company’s stock worth $26,776,000 after buying an additional 22,672 shares during the last quarter. Hedge funds and other institutional investors own 89.52% of the company’s stock.

About Marriott Vacations Worldwide

Marriott Vacations Worldwide Corporation, a vacation company, develops, markets, sells, and manages vacation ownership and related businesses, products, and services in the United States and internationally. It operates through two segments, Vacation Ownership and Exchange & Third-Party Management.