Hotel operator Wyndham Worldwide Corporation (
) on Wednesday said its fourth quarter profit rose almost 7% from
last year, beating analyst estimates, and announced a 25% boost to
its quarterly dividend payout.
The Parsippany, NJ-based company reported fourth quarter net
income of $78 million, or 43 cents per share, compared with $73
million, or 40 cents per share, in the year-ago period. Excluding
one-time items, adjusted profit was 46 cents per share.
Revenue rose 2.6% from last year to $937 million.
On average, Wall Street analysts expected a smaller adjusted
profit of 44 cents per share, albeit on higher revenue of $943.3
In another announcement, the company said its board of directors
has authorized a 25% raise in its quarterly dividend payout, from
12 cents to 15 cents per share.
Wyndham shares rose 15 cents, or +0.5%, in premarket trading
The Bottom Line
Shares of Wyndham Worldwide (
) have a 1.56% dividend yield, based on last night's closing stock
price of $30.85. The stock has technical support in the $26-$28
price area. If the shares can firm up, we see overhead resistance
around the $33-$35 price levels.
Wyndham Worldwide Corporation (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.4 out of 5 stars.
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