Wyndham Worldwide Profit Jumps 11% on Lower Costs (WYN)

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Hotel and timeshare company Wyndham Worldwide Corporation ( WYN ) said Wednesday that its first quarter profit rose 11% from last year, despite a drop in revenue, as adjusted results beat analyst expectations.

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 million.

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 trading Wednesday.

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 ( WYN ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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