Canaccord Genuity Morning Coffee on Marriott International (MAR): Their Natural Enemy? The Winnebago
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Price: $239.69 +0.96%
Rating Summary:
15 Buy, 22 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 16 | Down: 11 | New: 13
Rating Summary:
15 Buy, 22 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 16 | Down: 11 | New: 13
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Canaccord Genuity Morning Coffee on Marriott International (NYSE: MAR): Their natural enemy? The Winnebago (NYSE: WGO).
Marriott International was in the red on Thursday after the hotel operator lowered its full-year revenue forecast due to weakness in international markets. The company also reported an in-line Q2, with earnings of $0.42 matching the consensus estimate. However, investors were forecast on a reduced full-year fee revenue forecast, which management attributed to slowing demand overseas, particularly in Asia and the Middle East. The company now expects revenue per available room, a key metric for hotels as it measures pricing power, to increase by 5-7% internationally in 2012, down one percentage point from its prior view. In North America, it maintained its growth forecast of 6-8%. A company spokeswoman said, “Our outlook for the rest of the year is quite good. We don’t see any sign of economic weakness in the United States.” The company increased its full year earnings estimate, although the increase was driven by its share repurchase program.
This morning, shares are rebounding slightly, trading up $0.40 (+1.12%).
Marriott International was in the red on Thursday after the hotel operator lowered its full-year revenue forecast due to weakness in international markets. The company also reported an in-line Q2, with earnings of $0.42 matching the consensus estimate. However, investors were forecast on a reduced full-year fee revenue forecast, which management attributed to slowing demand overseas, particularly in Asia and the Middle East. The company now expects revenue per available room, a key metric for hotels as it measures pricing power, to increase by 5-7% internationally in 2012, down one percentage point from its prior view. In North America, it maintained its growth forecast of 6-8%. A company spokeswoman said, “Our outlook for the rest of the year is quite good. We don’t see any sign of economic weakness in the United States.” The company increased its full year earnings estimate, although the increase was driven by its share repurchase program.
This morning, shares are rebounding slightly, trading up $0.40 (+1.12%).
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