Hotel and timeshare company Wyndham Worldwide Corporation (
) said Wednesday that its first quarter profit rose 11% from last
year, despite a drop in revenue, as adjusted results beat analyst
The Parsippany, NJ-based company reported first quarter net
income of $50 million, or 27 cents per share, compared with $45
million, or 25 cents per share, in the year-ago period. Excluding
one-time items, adjusted profit was 34 cents per share.
Revenue fell 1.7% from last year, to $886 million
On average, Wall Street analysts expected a smaller adjusted
profit of 30 cents per share, on smaller revenue of $848
Looking ahead, the company raised its full-year revenue forecast
to a range of $3.6 billion to $3.9 billion, up from a prior outlook
for $3.5 billion to $3.9 billion.
Wyndham Worldwide shares fell 20 cents, or -0.8%, in premarket
The Bottom Line
Shares of WYN has a dividend yield of 1.80%, based on last night's
closing stock price of $26.63. The stock has technical support in
the $22-$23 price area. If the shares can firm up, we see overhead
resistance around the $29-$30 price levels. We would remain on the
sidelines for now.
Wyndham Worldwide Corporation (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.3 out of 5 stars.
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