Hotel operator Wyndham Worldwide Corporation (
) said Wednesday that its second quarter profit jumped 34% from
last year, prompting the company to raise its full-year
The Parsippany, NJ-based company reported second quarter net
income of $95 million, or 51 cents per share, compared with $71
million, or 39 cents per share, in the year-ago period. On average,
Wall Street analysts expected a much smaller profit of 40 cents per
Overall revenue rose 5% from last year, $963 million.
Looking ahead, the company boosted its full-year earnings
outlook to a range of $1.78 to $1.88 per share, which would beat
analysts' forecast of $1.68 per share for the year.
Wyndham shares rose 73 cents, or +3.1%, in premarket trading
The Bottom Line
Shares of WYN has a dividend yield of 2.06%, based on last night's
closing stock price of $23.27. The stock has technical support in
the $20 price area. If the shares can firm up, we see overhead
resistance around the $26-$27 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 3.4 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
Created by Dividend.com