NEW YORK (TheStreet) -- Shares of Marriott International Inc. (MAR - Get Report) were sliding, down 5.45% to $72.80 in early market trading Thursday, after the global hotel company released its 2015 second quarter earnings results late yesterday.
In its latest quarter, the company earned 82 cents per share on revenue of $3.69 billion.
Wall Street was expecting Marriott to post earnings of 81 cents per share on revenue of $3.72 billion for the quarter ended June 30, according to analysts surveyed by Thomson Reuters.
In the same quarter of last year, Marriott earned 71 cents per share on revenue of $3.48 billion.
"Our worldwide RevPAR grew over 5% and rooms' growth increased more than 6%. With many hotels reporting peak occupancy rates, room rates continue to move higher," Marriott CEO Arne Sorenson said in a statement.
Additionally, Marriott increased its full-year earnings outlook. It now forecasts earnings of between $3.10 to $3.18 a share, up from its previous guidance range of between $3 to $3.12 a share.
Bethesda, Md.-based Marriott is a diversified global lodging company. It is an operator, franchisor and licensor of hotels and timeshare properties worldwide.
The company also operates markets and develops residential properties and provides services to home and condominium owner associations.
Separately, TheStreet Ratings team rates MARRIOTT INTL INC as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate MARRIOTT INTL INC (MAR) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations, solid stock price performance, impressive record of earnings per share growth and compelling growth in net income. We feel its strengths outweigh the fact that the company shows low profit margins."
You can view the full analysis from the report here: MAR Ratings Report