Published on 30 May 2023 on Zacks via Yahoo Finance
Marriott International, Inc. MAR has been riding on solid demand and its expansion plans. Also, strategic acquisitions and digital innovations bode well.Recently, MAR reported impressive first-quarter 2023 results, with earnings and revenues beating the Zacks Consensus Estimate by 12.4% and 6.4%, respectively. Also, the top and the bottom line increased year over year by 33.7% and 67.2%, respectively. The upside was backed by robust demand across all the customer segment.Shares of MAR have increased 15.3% in the year-to-date period compared with the Zacks Hotels and Motels industry’s rise of 8.9%. Earnings estimates for 2023 have moved north to $8.39 per share from $7.77 per share in the past 30 days. This depicts analysts' optimism over the company’s growth prospects.
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