Hotel operator Wyndham Worldwide Corporation (
) on Wednesday said its fourth quarter earnings fell sharply from
last year, hurt but one-time items, but adjusted profit beat
expectations and the company significantly raised its quarterly
The Parsippany, NJ-based company reported fourth quarter net
income of $56 million, or 37 cents per share, compared with $78
million, or 43 cents per share, in the year-ago period. Excluding
one-time items, adjusted profit was 47 cents per share.
Revenue rose 7% from last year to $1 billion.
On average, Wall Street analysts expected a smaller profit of 44
cents per share, albeit on higher revenue of $1.01 billion.
In a separate announcement, WYN's board of directors approved a
53% raised in its quarterly dividend payout. The new dividend of 23
cents per share (up from 15 cents) will be officially declared in
the first quarter of this year.
Wyndham Worldwide shares fell 43 cents, or -1%, in premarket
The Bottom Line
Shares of Wyndham Worldwide (
) have a 2.25% dividend yield, based on last night's closing stock
price of $40.93. The stock has technical support in the $36-$38
price area. The stock is trading near all-time highs.
Wynn Resorts, Limited (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.4 out of 5 stars.
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