Zacks Investment Research cut shares of Wyndham Worldwide Corp (NYSE:WYN) from a hold rating to a sell rating in a report published on Monday morning.
According to Zacks, “Wyndham’s Q3 adjusted earnings of $2.03 per share beat the Zacks Consensus Estimate by 1.5% and were up 7.4% year over year (y/y) on higher revenues and lower share count. Revenues rose 4% y/y due to increased contribution from all segments and outpaced the consensus mark by 2%. The plan to spin-off its Hotel Group segment is expected to increase the fit, focus and strategic flexibility of both the post spin-off companies. Going forward, the company’s robust developmental pipeline and prudent acquisitions is likely to continue to spur growth. Its superior loyalty program and technological upgrades bode well too. However, Wyndham’s shares underperformed its industry in the last six months. Although the new owner strategy is expected to benefit its timeshare business in the long run, it is currently weighing on the company’s EBITDA. Lingering global uncertainty in a few regions and currency movements further add to concerns.”
Several other analysts have also weighed in on WYN. Telsey Advisory Group lowered shares of Wyndham Worldwide Corp from an outperform rating to a market perform rating and set a $115.00 price objective for the company. in a research note on Friday, August 4th. BidaskClub lowered shares of Wyndham Worldwide Corp from a buy rating to a hold rating in a research note on Saturday, August 5th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $108.29.
Wyndham Worldwide Corp (NYSE:WYN) traded up 0.96% on Monday, hitting $106.76. 327,192 shares of the stock traded hands. The company has a market cap of $10.97 billion, a price-to-earnings ratio of 19.66 and a beta of 1.36. Wyndham Worldwide Corp has a 1-year low of $64.14 and a 1-year high of $110.74. The stock has a 50-day moving average price of $105.81 and a 200 day moving average price of $100.84.
Wyndham Worldwide Corp (NYSE:WYN) last released its quarterly earnings data on Wednesday, October 25th. The company reported $2.03 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.01. The company had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.67 billion. Wyndham Worldwide Corp had a net margin of 10.20% and a return on equity of 97.31%. Wyndham Worldwide Corp’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.89 EPS. On average, analysts anticipate that Wyndham Worldwide Corp will post $6.08 EPS for the current fiscal year.
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Wyndham Worldwide Corp announced that its Board of Directors has approved a share buyback plan on Wednesday, October 25th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.
In other Wyndham Worldwide Corp news, Director George Herrera sold 323 shares of the business’s stock in a transaction on Friday, August 11th. The shares were sold at an average price of $97.60, for a total transaction of $31,524.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.39% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. Creative Planning increased its stake in Wyndham Worldwide Corp by 0.7% during the 2nd quarter. Creative Planning now owns 6,182 shares of the company’s stock valued at $621,000 after purchasing an additional 42 shares in the last quarter. Contravisory Investment Management Inc. increased its stake in Wyndham Worldwide Corp by 1.3% during the 2nd quarter. Contravisory Investment Management Inc. now owns 3,284 shares of the company’s stock valued at $330,000 after purchasing an additional 43 shares in the last quarter. HighTower Advisors LLC increased its stake in Wyndham Worldwide Corp by 1.2% during the 2nd quarter. HighTower Advisors LLC now owns 4,705 shares of the company’s stock valued at $476,000 after purchasing an additional 54 shares in the last quarter. BB&T Securities LLC increased its stake in Wyndham Worldwide Corp by 2.3% during the 2nd quarter. BB&T Securities LLC now owns 2,499 shares of the company’s stock valued at $250,000 after purchasing an additional 56 shares in the last quarter. Finally, Empirical Finance LLC increased its stake in Wyndham Worldwide Corp by 0.5% during the 2nd quarter. Empirical Finance LLC now owns 12,758 shares of the company’s stock valued at $1,282,000 after purchasing an additional 63 shares in the last quarter. Institutional investors and hedge funds own 94.59% of the company’s stock.
About Wyndham Worldwide Corp
Wyndham Worldwide Corporation is a hospitality company. The Company offers a range of hospitality services and products through its global portfolio of brands. The Company operates through three segments: Wyndham Hotel Group, Wyndham Destination Network and Wyndham Vacation Ownership. The Company’s brands include Wyndham Hotels and Resorts, Ramada, Days Inn, Super 8, Howard Johnson, Wingate by Wyndham, Microtel Inns & Suites by Wyndham, TRYP by Wyndham, Dolce Hotels and Resorts, RCI, Landal GreenParks, Novasol, Hoseasons, cottages.com, James Villa Holidays, Wyndham Vacation Rentals, Wyndham Vacation Resorts, Shell Vacations Club and WorldMark by Wyndham.
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