Investing Opinion
Dividend.com: Will Lilly Blossom?
Marriot Reduces 2009 Earnings Forecast
Marriott Hotels(MAR) just reported its third-quarter profit fell 28% as its hotel and time-share businesses slowed. Management said its timeshare business has certainly been far more impacted by the current financial environment than its core lodging business. Third quarter profit fell 28% over the same period last year -- while the company's net income grew by just 1%. The company is also cutting its fourth quarter outlook to a range of 44 cents to 50 cents a share, below Reuters analysts' estimates of 62 cents. Some of Marriot's other hotel brands include Courtyard, Ritz-Carlton and Fairfield Inn hotels. The lodging industry has been a tough place for investors and we are avoiding much exposure to the sector. The company has a 1.40% dividend yield -- based on last night's closing stock price of $25.08. Marriott Hotels is not recommended at this time, and currently holds a Dividend.com rating of 3.3 out of 5 stars.TheStreet Premium Services
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