Wyndham Worldwide Q2 Profit Jumps 34%; Forecast Raised Above View (WYN)

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Hotel operator Wyndham Worldwide Corporation ( WYN ) said Wednesday that its second quarter profit jumped 34% from last year, prompting the company to raise its full-year outlook.

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 share.

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 Wednesday.

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 ( WYN ) 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 .



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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