06-17-2017: Marriott Vacations Worldwide Corporation (VAC): Enhanced Timeshare

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Recommendation

Marriott Vacations Worldwide Corporation

Two of the biggest hotel chains, Marriott and more recently, Hilton, have spun off their timeshare real estate operations into separate companies. Marriott's spinoff occurred in 1984. These spinoffs have been generally more profitable than the hotel operations, although hotels as an industry group are making a recent strong comeback after being in a malaise for a while.

Marriott Vacations Worldwide (formerly Marriott Vacation Club) is the former timeshare arm of Marriott Hotels. Marriott Vacations (VAC) has at least 10,000 employees. It sells what it calls "vacation ownership" which involves a bit more than standard timeshare contracts, or what the company calls "enhanced timeshare products".

The stock has been almost straight up, with occasional pauses or bumps consisting of small reactions after a big move, but almost inconsequential in a non-trading "buy and hold" favored pattern.

The corporation has a good website that explains what it does and where are its holdings, which it is aggressively increasing. Although researchers are marginally favorable, it has a strong Zenith Index and financial ratios. The current to average p/e ratio is only slightly positive, but this is unusual for stocks today and is another indication of value in the stock.

Institutions are unloading the stock, but Dimensional Fund Advisors is among the largest holders which is a positive.

We did not like a somewhat non-standard way management discussed its results of operations. It generally segmented them geographically. It used a somewhat non-standard format and programming language.

It is late in bull-market run which is affecting all stocks, and this stock has a rating encouraged by very strong stock performance over a long period. The Federal Reserve just raised interest rates again making financing somewhat more difficult, but we think overall this stock may continue to power its way through those two adverse factors by reason of the fact that the value behind the stock remains one of the "better deals" one can find in the over-valued stock market today.

News on the stock consists almost entirely of upbeat earnings reports, high growth addition of new properties to the base, but with one major glitch in 2013 when owners sued the company regarding its property in the Bahamas for failure to maintain five-star first-class standards there. 



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Zenith Index

Under current market conditions, a Zenith Index Score of 1.20 or above is required for a positive rating on this factor. 1.21 -1.30 is considered acceptable, 1.30-1.40 is considered strong and
> 1.40 is considered exceptionally strong. Accounting statements in this section often contain mistakes, especially in earlier years' totals, but data is deemed sufficient for us to give a rating. More accurate financial statements follow in the next section.

Marriott Vacations Worldwide Corporation (VAC)            Exchange: NYSE
6649 Westwood Boulevard
Suite 500                        Sector: Services
Orlando, FL 32821                Industry:Resorts & Casinos

Marriott Vacations Worldwide Corporation develops, markets, sells, and
manages vacation ownership and related products under the Marriott
Vacation Club and Grand Residences by Marriott brands. The company also
develops, markets, and sells vacation ownership and related products
under The Ritz-Carlton Destination Club brand; and holds right to
develop, market, and sell ownership residential products under The
Ritz-Carlton Residences brand. It sells points-based vacation ownership
products through Marriott Vacation Club points-based ownership programs
focused in North America and the Asia Pacific; and weeks-based vacation
ownership products. As of December 30, 2016, the company operated 60
properties with 13,318 vacation ownership villas and approximately
400,000 owners in the United States, and 8 other countries and
territories. In addition, it is involved in financing consumer purchases
of vacation ownership products; and renting vacation ownership
inventory. The company sells its upscale tier vacation ownership
products primarily through a network of resort-based sales centers and
off-site sales locations. Marriott Vacations Worldwide Corporation is
headquartered in Orlando, Florida.

Last Trade: 121.36                           52-Week Range: 124.94 -  58.85
Employees: 11,000                            Avg.Volume:     247,800 Shares

Corporate Governance:
Pillar scores are Audit: 1; Board: 2; Shareholder Rights: 10; Compensation: 4.
         (A lower number means less governance risk.)

EPS:  5.24    Dividend Amount: $ 1.40          Yield:  1.17%
             Ex-Dividend Date: May 23, 2017    Payout Ratio:  24.90

Key Statistics:

    Trailing P/E:  23.23              Forward P/E (est.):  20.89
                                           Target Price: 117.00

Qrtly Stock Price Growth (yoy): 101.66%               Beta:   1.16
Qrtly S&P Index   Growth (yoy):  17.50%        Short Ratio:  13.06%
    Qrtly Revenue Growth (yoy):  17.81%         Shares Out:  27150000
   Qrtly Earnings Growth (yoy):   0.00%

          Book Value:  34.38                    Debt/Equity:  73.27%
    Price/Book Value:   3.54        Operating Profit Margin:  17.98%
         Price/Sales:   2.54                  Profit Margin:  11.26%
         Market Cap:   3,307,000,000       Return on Equity:  15.83%
    Enterprise Value:               0      Return on Assets:   6.26%

    Operating Cash Flow:    176,000,000
         Free Cash Flow:    114,830,000


Annual Income Statement:

  Period Ending                             12/30/2016  1/1/2016   1/2/2015

  Total Revenue                              1,811,235   1,813,781   1,716,016
  Cost of Revenue                            1,043,501   1,074,169   1,032,445
  Gross Profit                                 767,734     739,612     683,571

Operating Expenses:
  Research & Development                             0           0           0
  Selling, General & Administrative            481,813     462,535     446,228
  Non-Recurring Expenses                        60,650      59,074      80,845
  Other Operating Expenses                           0           0           0
  Total Operating Expenses                           0           0           0

Operating Income or Loss                       225,271     218,003     156,498

Income from Continuing Operations:
  Total Other Income/Expenses Net                6,569       1,304       5,785
  Earnings Before Interest & Taxes             231,840     219,307     162,283
  Interest Expense                               8,912      12,810      11,692
  Income Before Taxes                          222,928     206,497     150,591
  Income Tax Expense                            85,580      83,698      69,835
  Minority Interest                                  0           0           0

Net Income from Continuing Op.s                137,348     122,799      80,756

Non-recurring Events:
  Discontinued Operations                            0           0           0
  Extraordinary Items                                0           0           0
  Effect of Accounting Changes                       0           0           0
  Other Items                                        0           0           0
  Net Income                                   137,348     122,799      80,756
  Preferred Stock & Other Adjustments                0           0           0

Net Income Avail to Common Shares              137,348     122,799      80,756



Annual Cash Flow Statement:                   (All numbers in thousands)
  Period Ending                         12/30/2016     1/1/2016        1/2/2015

  Net Income                               137,348       122,799        80,756

Operating Activities:
  Depreciation                              27,553        27,803        24,144
  Adjustments to Net Income                 89,888        66,452        82,774
  Changes in Accounts Recv'bls            -133,292       -65,214        18,180
  Changes in Liabilities                    -7,348       -56,725       -11,313
  Changes in Investories                     4,301        72,158        82,690
  Changes in other Oper'g Acts              21,722       -58,239        14,180

Total Cash Flow f Operations               140,172       109,034       291,411

Investing Activities:
  Capital Exenditures                      -34,770       -83,393       -15,202
  Investments                                    0             0             0
  Other Cash Flows fr Investing             73,791        58,325        58,328

Total Cash Flows from Investing             39,021       -25,068        43,126

Financing Activities:
  Dividends Paid                           -34,195       -23,793        -8,179
  Sale of Purchase of Stock               -217,823      -201,283      -200,619
  Net Borrowings                          -322,864      -278,427      -228,870
  Other Cash Flows fr Financing            372,788       249,711        58,328

Total Cash Flows from Financing           -204,952      -249,747      -185,650

  Effect of Exchange Rate Chg               -4,200        -3,673        -1,883

Change in Cash & Cash Equiv.               -29,959      -169,454       147,004



Annual Balance Sheets:                              (All Numbers in Thousands)
  Period Ending                          12/30/2016      1/1/2016        1/2/2015
Current Assets:
  Cash & Cash Equivalents                   213,102       248,512       456,422
  Short Term Investments                          0             0             0
  Net Receivables                         1,134,044     1,052,481     1,026,928
  Inventory                                 712,536       669,243       772,784
  Other Current Assets                            0             0             0
  Total Current Assets                    2,059,682     1,970,236     2,256,134

  Long-Term Investments                           0             0             0
  Property, Plant & Equipt                  202,802       288,803       147,379
  Goodwill                                        0             0             0
  Intangible Assets                               0             0             0
  Accumulated Amortization                        0             0             0
  Other Assets                              128,935       140,679       127,066
  Deferred LT Asset Charges                       0             0             0

Total Assets                              2,391,419     2,399,718     2,530,579

Current Liabilities:
  Accounts Payable                          422,966       456,211       433,313
  Current Portion LT Debt                         0             0             0
  Other Current Liabilities                 158,369       129,227       169,780
  Total Current Liabilities                 581,335       585,438        603,093

  Long Term Debt                            422,966       456,211       433,313
  Other Liabilities                               0             0             0
  Deferred LT Liab. Charges                 158,369       129,227       169,780
  Minority Interest                               0             0             0
  Negative Goodwill                               0             0             0

Total Liabilities                         1,443,508     1,314,375     1,450,876

Stockholder Equity:
  Misc. Options, Warrants                         0             0             0
  Redeemable Preferred Stock                      0             0             0
  Preferred Stock                                 0             0             0
  Common Stock                                  366           364           361
  Retained Earnings                         346,341       243,781       153,732
  Treasury Stock                           -606,631      -429,990      -229,229
  Capital Surplus                         1,162,283     1,150,731     1,137,785
  Other Stockhohlder Equity                   5,460        11,381        17,054
  Total Stockholder Equity                  907,819       976,267     1,079,703

Net Tangible Assets                         907,819       976,267     1,079,703


Marriott Vacations Worldwide Corporation    [Indices near +3.0, near zero,
                                            or < zero bear special attention.]
P/E Ratio Tests:
P/E Ratio < 28?            1.2053          P/E Ratio > 5?             1.0000
P/E Ratio Vs Growth Rate:  0.0000          Forward P/E Ratio < 28?    1.3404
Price/Sales Ratio < 2.3?   0.9055          Inventory/Sales < 5%?      0.1271
Sales < $1 Billion?        0.5521          Operating Margin < 7.5%?   0.4171

Balance Sheet Tests:
Debt/Equity < 0.40?        0.5459          Long-Term Debt Service:    1.2858
LTD Being Reduced?         0.0000          Short-Term Debt Service:   3.0000
Current Ratio > 2?         1.7715          Working Capital >= 1.5?    0.4290
Leverage Ratio < 20%?      0.5588          Debt/Assets < 1?           3.0000
Quick Ratio > 1?           3.0000          Inventory Turnover > 1?    1.3135
Share Equity Increase:     1.8341          Market Cap.< 1.5 Billion?  0.4536
                                           Intangibles < 3% Assets?   3.0000
Income Tests:
Profit Margin < 7.5%?      1.5013          EPS Annual Growth > 10%?   0.0894
Dividend Yield > 2.0%?     1.7094          EPS 3-yr Growth > 15?      0.0882
Enterprise Value/Revenue   1.8261          EPS Growth Consistent?     2.0000
Enterprise Value/EBITDA:   3.0000          Collection < 45 days?      0.1969
EPS Qrtly Growth > 10%?    0.0000          Gross Pft/Cur. LTD > 1?    3.0000
                                           Borrowing Int. Rate < 6%?  3.0000
Stock Performance Tests:
Volatility > 25%?          2.1159          % Held by Insiders < 5%?   0.2419
Beta > 1.25?               0.9280          % Held by Institut. < 50?  0.7042
50 Da MA > 200 Da MA?      0.4561          % Held by Institut. > 30?  2.3667
52-Wk Change vs. S&P 500:  3.0000          Short Ratio > 5?           2.6120
Price/Book Value < 3?      0.8499          Short % of Float > 20?     0.8060
Return on Assets > 17%?    0.3682          Average Volume > 100,000?  2.4780

Cash Flow Tests:
Oper. C.F. > Lever'd C.F:  1.5327          Positive Free Cash Flow?   3.0000
Positive Oper. Cash Flow?  3.0000          Price to C.F.Ratio < 14?:  1.6263
                                           Cash Flow / Assets > 10%?  1.6063

VAC    Marriott Vacations Worldwide Corp.  Overall Zenith Index:      1.4255


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Financial Statements

MARRIOTT VACATIONS WORLDWIDE CORP  (VAC)    INCOME STATEMENT

Fiscal year ends in December.                        2012-12         2013-12         2014-12         2015-12         2016-12             TTM           

Revenue                                        1,648,000,000   1,750,000,000   1,736,000,000   1,830,462,976   1,811,234,944   1,879,558,016
Cost of revenue                                1,078,000,000   1,065,000,000   1,115,000,064   1,093,991,936   1,043,500,992   1,074,920,960
Gross profit                                     570,000,000     685,000,000     621,000,000     736,470,976     767,734,016     804,636,992


Operating expenses
Sales, General and administrative                432,000,000     489,000,000     417,000,000     493,718,016     519,080,992     546,222,976
Other operating expenses                          41,000,000      16,000,000      19,000,000               0               0               0
Total operating expenses                         473,000,000     505,000,000     436,000,000     493,718,016     519,080,992     546,222,976

Operating income                                  97,000,000     180,000,000     185,000,000     242,752,992     248,652,992     258,414,000
Interest Expense                                  58,000,000      44,000,000      38,000,000      37,468,000      32,597,000      31,972,000
Other income (expense)                            -2,000,000      -5,000,000       4,000,000       1,212,000       6,872,000       8,676,000
Income before taxes                               37,000,000     131,000,000     151,000,000     206,496,992     222,928,000     235,118,000
Provision for income taxes                        21,000,000      51,000,000      70,000,000      83,698,000      85,580,000      88,478,000
Net income from continuing operations             16,000,000      80,000,000      81,000,000     122,799,000     137,348,000     146,640,000
Net income                                        16,000,000      80,000,000      81,000,000     122,799,000     137,348,000     146,640,000
Net income available to common shareholders       16,000,000      80,000,000      81,000,000     122,799,000     137,348,000     146,640,000

Earnings per share
Basic                                                   0.46            2.25            2.40            3.90            4.93            5.33 
Diluted                                                 0.44            2.18            2.33            3.82            4.83            5.22 

Weighted average shares outstanding
Basic                                             34,400,000      35,400,000      33,700,000      31,487,000      27,882,000      27,414,000
Diluted                                           36,200,000      36,600,000      34,600,000      32,168,000      28,422,000      27,987,000

____________________________________________________________________________________________________________________________________________


MARRIOTT VACATIONS WORLDWIDE CORP  (VAC)    BALANCE SHEET

Fiscal year ends in December.                        2012-12         2013-12         2014-12         2015-12         2016-12             

Assets

Current assets

Cash

Total cash                                       103,000,000     200,000,000     347,000,000     177,060,992     147,102,000

Receivables                                      100,000,000     109,000,000     110,000,000   1,052,481,024   1,134,044,032
Inventories                                      881,000,000     870,000,000     773,000,000     669,243,008     712,536,000
Other current assets                           1,124,000,000   1,056,000,000   1,027,000,000      71,451,000      66,000,000
Total current assets                           2,208,000,000   2,235,000,064   2,256,999,936   1,970,236,032   2,059,682,048

Non-current assets

Property, plant and equipment
Gross property, plant and equipment              604,000,000     596,000,000     473,000,000     614,609,984     526,785,984
Accumulated Depreciation                        -343,000,000    -342,000,000    -326,000,000    -325,807,008    -323,984,000
Net property, plant and equipment                261,000,000     254,000,000     147,000,000     288,803,008     202,802,000

Other long-term assets                           135,000,000     143,000,000     136,000,000     135,987,008     128,935,000
Total non-current assets                         396,000,000     397,000,000     283,000,000     424,790,016     331,736,992

Total assets                                   2,604,000,000   2,632,000,000   2,540,000,000   2,395,025,920   2,391,418,880 

Liabilities and stockholders' equity

Liabilities

Current liabilities
Accounts payable                                 113,000,000     129,000,000     114,000,000     139,120,000     124,439,000
Accrued liabilities                              263,000,000     267,000,000     259,000,000     269,121,984     242,984,992
Deferred revenues                                 74,000,000      67,000,000      99,000,000     104,340,000     151,036,992
Total current liabilities                        450,000,000     463,000,000     472,000,000     512,582,016     518,460,992

Non-current liabilities
Long-term debt                                   678,000,000     678,000,000     711,000,000     678,793,024     737,224,000
Deferred taxes liabilities                        43,000,000      60,000,000      79,000,000     104,384,000     149,168,000
Other long-term liabilities                      282,000,000     222,000,000     198,000,000     123,000,000      78,747,000
Total non-current liabilities                  1,003,000,000     960,000,000     988,000,000     906,177,024     965,139,008

Total liabilities                              1,452,999,936   1,423,000,064   1,460,000,000   1,418,759,040   1,483,600,000 

Stockholders' equity

Common stock                                               0               0               0         364,000         366,000
Additional paid-in capital                     1,116,000,000   1,130,000,000   1,136,999,936   1,150,731,008   1,162,283,008
Retained earnings                                 14,000,000      82,000,000     155,000,000     243,780,992     346,340,992
Treasury stock                                             0     -26,000,000    -229,000,000    -429,990,016    -606,630,976
Accumulated other comprehensive income            21,000,000      23,000,000      17,000,000      11,381,000       5,460,000
Total stockholders' equity                     1,151,000,064   1,208,999,936   1,080,000,000     976,267,008     907,819,008
Total liabilities and stockholders' equity     2,604,000,000   2,632,000,000   2,540,000,000   2,395,025,920   2,391,418,880

____________________________________________________________________________________________________________________________________________


MARRIOTT VACATIONS WORLDWIDE CORP  (VAC)    Statement of CASH FLOW

Fiscal year ends in December. USD.                   2012-12         2013-12         2014-12         2015-12         2016-12             TTM           

Cash Flows From Operating Activities
Net income                                        16,000,000      80,000,000      81,000,000     122,799,000     137,348,000     146,640,000
Depreciation & amortization                       30,000,000      23,000,000      19,000,000      22,217,000      21,044,000      21,110,000
Amortization of debt discount/premium and is       7,000,000       6,000,000       5,000,000       5,586,000       6,509,000       6,595,000
Investment/asset impairment charges               -2,000,000       2,000,000       1,000,000         324,000               0               0
Deferred income taxes                            -50,000,000      18,000,000      19,000,000      28,162,000      38,834,000      38,757,000
Stock based compensation                          12,000,000      12,000,000      13,000,000      14,142,000      13,949,000      14,701,000
Accounts receivable                               -3,000,000      -8,000,000      -1,000,000               0               0               0
Inventory                                         68,000,000      34,000,000      82,000,000      10,604,000       4,301,000      41,215,000
Accrued liabilities                                        0               0       9,000,000               0      -6,933,000               0
Other working capital                             54,000,000     -42,000,000      12,000,000    -123,233,000    -110,772,000    -134,256,992
Other non-cash items                              31,000,000      37,000,000      51,000,000      28,433,000      35,892,000      41,237,000
Net cash provided by operating activities        163,000,000     162,000,000     291,000,000     109,034,000     140,172,000     175,998,000

Cash Flows From Investing Activities
Investments in property, plant, and equipmen     -17,000,000     -22,000,000     -15,000,000     -35,735,000               0     -33,494,000
Other investing activities                        20,000,000     -14,000,000      58,000,000      10,667,000      39,021,000      65,583,000
Net cash used for investing activities             3,000,000     -36,000,000      43,000,000     -25,068,000      39,021,000      32,089,000

Cash Flows From Financing Activities
Debt issued                                      253,000,000     386,000,000     263,000,000     255,000,000     461,622,016     410,492,000
Debt repayment                                  -426,000,000    -386,000,000    -230,000,000    -278,427,008    -407,864,000    -414,492,992
Preferred stock repaid                                     0               0               0               0     -40,000,000               0
Common stock repurchased                                   0     -26,000,000    -203,000,000    -201,380,000    -177,830,000    -104,602,000
Excess tax benefit from stock based compe          3,000,000               0               0               0               0               0
Dividend paid                                              0               0      -8,000,000     -23,793,000     -34,195,000     -35,620,000
Other financing activities                        -2,000,000      -3,000,000      -7,000,000      -1,147,000      -6,685,000     -51,291,000
Net cash provided by (used for) financing       -172,000,000     -29,000,000    -185,000,000    -249,747,008    -204,952,000    -195,514,000

Effect of exchange rate changes                   -1,000,000               0      -2,000,000      -3,673,000      -4,200,000      -3,113,000
Net change in cash                                -7,000,000      97,000,000     147,000,000    -169,454,000     -29,959,000       9,460,000
Cash at beginning of period                      110,000,000     103,000,000     200,000,000     346,515,008     177,060,992     161,864,992
Cash at end of period                            103,000,000     200,000,000     347,000,000     177,060,992     147,102,000     171,324,992

Free Cash Flow
Operating cash flow                              163,000,000     162,000,000     291,000,000     109,034,000     140,172,000     175,998,000
Capital expenditure                              -17,000,000     -22,000,000     -15,000,000     -35,735,000     -34,770,000     -33,494,000
Free cash flow                                   146,000,000     140,000,000     276,000,000      73,299,000     105,402,000     142,504,000
____________________________________________________________________________________________________________________________________________





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Average to Current P/E Ratios
              (VAC)     Marriott Vacations Worldwide Corp.

                               2012    2013    2014    2015    2016

          Annual Earnings:     0.44    2.19    2.34    3.82    4.83
Average Price During Year:    29.41   44.53   57.32   76.34   66.06

                P/E Ratio:    66.83   20.33   24.50   19.98   13.68

 Average 5-Year P/E Ratio  =  29.06
             Current Price =  121.36

Previous 5 Quarter Earnings:   0.82    1.26    0.97    1.80    1.21

           Current Annualized (Last Four Quarters) Earnings =  3.98
                                                           ________
                                 Average PE / Current PE =     0.95
                                                           --------

                                      ...a number above 1.00 is good
                                                1.00 or below is bad


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Financial Ratios

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Market Edge

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Intrinsic Value (DCF)

Intrinsic Value by Discounted Cash Flow Method:

Intrinsic Value



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Book Value

Tangible Book Value:

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Projected Earnings

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Research Reports

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Analysts' Opinions

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Insider Activity

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Institutional Activity

Institutional Orders to Buy or Sell:

institutions 1
Ownership:

institutions 2


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Sentiment

sentiment

Zenith uses the "sentiment" score above or below 50 to award a positive or negative point in the Decision Matrix.

sentiment sentiment sentiment



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Short Interest Ratio

As the short interest rises as a percentage of average daily share volume (Days to Cover), this is considered a measure of negative sentiment. Similarly, a decrease in that percentage is considered positive sentiment.

short interest short interest


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Standard & Poor's

S&P Stock Report (Requires Adobe Acrobat Reader)



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Management's Discussion of Results of Operations Excerpts

Click Here for Management's Discussion Excerpts



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Moving Average Chart



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Right Time Study



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Channeling Potential

 
The summary below includes a value for `Degree,' which refers on a
scale of 1 to 10 the range of a channel in the period under consi-
deration compared to the total range of price movement. It also looks
for the last closing price to be within the channel, otherwise zeroed.
The `Index' is the `Degree' weighted for volatility.  Generally, the
the higher the index, the more suitable is the stock for trading as
a `rolling stock' between channel high and low points.

Results for MARRIOTT VACATIONS INTERNATIONAL:
Symbol? VAC
Total Months Available:  66
       Months in Cycle?   4

Months Covered by Periods:  12

Period 1           Period 2          Period 3
   H1      L1        H2      L2        H3      L3
  80.26   58.70     89.97   59.33    124.94   87.56

RANGE   = 124.94  TO   58.70            Close = 119.95
CHANNEL =  87.56  TO   80.26           Degree =   1
Volatility =   6.08%                    Index =   0
Channel Chart



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MACD Histogram Divergence

The theory is that connecting the two most recent peaks or valleys of the MACD histogram will signal the direction of the next major move.



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Intraday Chart

2 Days:



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Val Idea

5 out of 8 favorable, (positive opinion.)

Val Idea


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Stock Consultant

Stock Consultant Stock Consultant



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Point & Figure Chart

P & F Chart


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Wall Street Analyzer





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Marketspace Chart

Marketspace Chart



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Time Series Forecast

Time Series 1 Time Series 2


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Neural Network Prediction

"Neurostock" can only track long trades. Therefore its performance, as tracked by itself on stocks which are consistently falling, may not appear as good as it could if each "sell" signal were a "short sale."

Neural Chart
Heading
Neural Trades Neural Prediction



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Ultimate Trading Systems

3 out of 3 of the ultimate systems favor an upmove.


System Below:
Short term outlook: Positive: Bright Green, Negative: Bright Red
Long term outlook: Postive: Dark Green, Negative: Dark Red.




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Recommendation

Decision Weighting Factors
FactorsWeighted Points
News + 1
Comparison - 1
Industry + 1
Bond Issue 0
Zenith Index + 1
Non-GAAP vs. GAAP Earnings - 1
Cash Flow + 1
Average to Current P/E - 1
Ratios + 1
Market Edge + 1
Intrinsic Value DCF - 1
Tangible Book Value - 1
Projected Earnings + 1
Research Reports + 1
Analysts + 1
Executive Perquisites - 1
Insider Activity - 1
Institutional Activity - 1
Management Reporting - 1
Short Interest + 1
Sentiment + 1
Standard & Poor's - 1
Moving Average + 1
Right Time Study + 1
MACD Histogram Divergence - 1
Val Idea + 1
Stock Consultant - 1
Point & Figure + 1
Wall Street Analyzer + 1
Marketspace Chart + 1
Time Series Chart + 1
Neural Network - 1
Stock Options + 1
Ultimate Trading Systems + 1
Total + 7
Place 230 shares of Marriott Vacations Worldwide Coirporation (VAC) on the Active List.