FBR Capital Maintains an 'Outperform' on Marriott International (MAR); Initial Take-Away from Timeshare Spinoff Filing
Tweet
Share
E-mailGet Alerts MAR Hot Sheet
Price: $356.72 +1.19%
Rating Summary:
19 Buy, 18 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
19 Buy, 18 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Join SI Premium – FREE
FBR Capital maintains an 'Outperform' on Marriott International (NYSE: MAR).
FBR analyst says, "Last evening, MAR’s announced that its timeshare spinoff unit, to be called “Marriott Vacations Worldwide” (MVW) had filed the initial Form 10 with the SEC. The timing of the filing is consistent with what MAR had stated before (end of June) and the proposed spinoff is still expected by yearend. There were no significant surprises in the filing. MAR shareholders will receive one share of MVW common stock for certain shares MAR’s Class A common stock. Our take is that that post spinoff, MAR will continue to receive royalty and license fees from MVW under long term agreements which should be a source of fee driven revenues. The filing provides some historical and pro forma combined financial statements."
For more ratings news on Marriott International click here and for the rating history of Marriott International click here.
Shares of Marriott International closed at $35.57 yesterday.
FBR analyst says, "Last evening, MAR’s announced that its timeshare spinoff unit, to be called “Marriott Vacations Worldwide” (MVW) had filed the initial Form 10 with the SEC. The timing of the filing is consistent with what MAR had stated before (end of June) and the proposed spinoff is still expected by yearend. There were no significant surprises in the filing. MAR shareholders will receive one share of MVW common stock for certain shares MAR’s Class A common stock. Our take is that that post spinoff, MAR will continue to receive royalty and license fees from MVW under long term agreements which should be a source of fee driven revenues. The filing provides some historical and pro forma combined financial statements."
For more ratings news on Marriott International click here and for the rating history of Marriott International click here.
Shares of Marriott International closed at $35.57 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Mesoblast completes patient treatment in phase 3 back pain trial
- MicroVision prices $17 million public offering at $2.50 per unit
- Diana Shipping drops bid for Genco after price demands spike to $36.91
Create E-mail Alert Related Categories
Analyst CommentsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
