Marriott Vacations Worldwide (NYSE:VAC) Trading 16% Higher Following Better-Than-Expected Earnings

Marriott Vacations Worldwide Co. (NYSE:VAC)’s stock price was up 16% during mid-day trading on Thursday following a stronger than expected earnings report. The company traded as high as $99.68 and last traded at $98.39. Approximately 245,724 shares were traded during mid-day trading, a decline of 46% from the average daily volume of 457,763 shares. The stock had previously closed at $84.79.

The company reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.53 by $0.27. Marriott Vacations Worldwide had a return on equity of 9.89% and a net margin of 3.41%. The business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.27 billion.

Marriott Vacations Worldwide Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders 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 3.06%. The ex-dividend date was Thursday, September 19th. Marriott Vacations Worldwide’s dividend payout ratio is currently 72.04%.

Analysts Set New Price Targets

A number of brokerages have commented on VAC. StockNews.com cut shares of Marriott Vacations Worldwide from a “hold” rating to a “sell” rating in a research note on Friday, July 19th. Stifel Nicolaus reduced their price target on Marriott Vacations Worldwide from $108.00 to $96.50 and set a “buy” rating for the company in a report on Friday, September 13th. The Goldman Sachs Group initiated coverage on Marriott Vacations Worldwide in a research note on Wednesday, September 18th. They set a “sell” rating and a $62.00 target price for the company. Barclays decreased their target price on Marriott Vacations Worldwide from $82.00 to $74.00 and set an “equal weight” rating on the stock in a report on Thursday, September 26th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Marriott Vacations Worldwide from $121.00 to $95.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. 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 stock. Based on data from MarketBeat, Marriott Vacations Worldwide presently has a consensus rating of “Hold” and an average price target of $96.65.

Insiders Place Their Bets

In other Marriott Vacations Worldwide news, insider Jason P. Marino bought 700 shares of Marriott Vacations Worldwide stock in a transaction dated Wednesday, September 11th. The stock was bought at an average price of $69.00 per share, with a total value of $48,300.00. Following the completion of the transaction, the insider now owns 15,851 shares in the company, valued at $1,093,719. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.30% of the company’s stock.

Institutional Trading of Marriott Vacations Worldwide

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Marriott Vacations Worldwide by 4.6% in the first quarter. Vanguard Group Inc. now owns 3,266,238 shares of the company’s stock valued at $351,872,000 after buying an additional 143,074 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Marriott Vacations Worldwide by 14.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,599,789 shares of the company’s stock valued at $139,687,000 after acquiring an additional 207,938 shares during the period. Impactive Capital LP acquired a new stake in shares of Marriott Vacations Worldwide during the 1st quarter worth $123,613,000. Burgundy Asset Management Ltd. increased its position in shares of Marriott Vacations Worldwide by 3.0% in the first quarter. Burgundy Asset Management Ltd. now owns 1,096,286 shares of the company’s stock worth $118,103,000 after purchasing an additional 32,218 shares during the period. Finally, Victory Capital Management Inc. raised its stake in Marriott Vacations Worldwide by 0.5% in the third quarter. Victory Capital Management Inc. now owns 767,818 shares of the company’s stock valued at $56,419,000 after purchasing an additional 3,983 shares in the last quarter. Institutional investors own 89.52% of the company’s stock.

Marriott Vacations Worldwide Stock Performance

The firm has a market cap of $3.48 billion, a price-to-earnings ratio of 22.63, a P/E/G ratio of 0.73 and a beta of 1.79. The company has a quick ratio of 2.72, a current ratio of 3.28 and a debt-to-equity ratio of 2.21. The stock has a 50 day moving average of $75.19 and a 200 day moving average of $82.67.

Marriott Vacations Worldwide Company Profile

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.