Hotel operator Wyndham Worldwide Corporation (
) on Wednesday posted adjusted first quarter earnings that beat
Wall Street's view and lifted its full-year outlook.
The Parsippany, NJ-based company reported first quarter net
income of $32 million, or 21 cents per share, compared with $72
million, or 41 cents per share, in the year-ago period. Excluding
special items, adjusted profit was 60 cents per share.
Revenue rose 9% from last year to $1.04 billion.
On average, Wall Street analysts expected a smaller profit of 55
cents per share, on slightly lower revenue of $1 billion.
Looking ahead, WYN raised its full-year 2012 earnings outlook to
a range of $3 to $3.15 per share, up from a prior forecast of $2.85
to $3 per share. The company also increased its share buyback plan,
noting it will spend an additional $750 million to repurchase
Wyndham Worldwide shares were unchanged in premarket trading
The Bottom Line
Shares of Wyndham Worldwide (
) have a 1.95% dividend yield, based on last night's closing stock
price of $47.11. The stock has technical support in the $41-$43
price area. The stock is trading at all-time highs.
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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