Wyndham Worldwide (WYN) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Wyndham Worldwide (NYSE:WYN) from a hold rating to a buy rating in a research report released on Tuesday morning. The firm currently has $130.00 price objective on the stock.
According to Zacks, “Wyndham’s shares have outperformed S&P 500 in the last year. The company’s plan to spin-off its Hotel Group segment is expected to increase the fit, focus and strategic flexibility of both the companies. Going forward, Wyndham’s strong developmental pipeline, large international exposure and prudent acquisitions should boost earnings. Initiatives to increase occupancy like the remodeled loyalty program, technological upgrades and marketing efforts are expected to drive growth too. Focus on returning wealth to shareholders through buybacks and dividend hikes also bode well. It has a positive record of earnings surprises in recent quarters and estimates are stable ahead of its third-quarter earnings release. Lingering global uncertainties in some economies and currency fluctuations might limit revenue growth in the near term. Also, soft demand in oil producing regions might hurt RevPAR.”
Several other analysts also recently issued reports on WYN. Stifel Nicolaus upped their price objective on Wyndham Worldwide from $113.00 to $123.00 in a research report on Friday, January 5th. They noted that the move was a valuation call. ValuEngine upgraded Wyndham Worldwide from a hold rating to a buy rating in a research report on Friday, February 2nd. SunTrust Banks increased their target price on Wyndham Worldwide to $131.00 and gave the stock a buy rating in a research report on Thursday, February 15th. Jefferies Group began coverage on Wyndham Worldwide in a research report on Friday, January 19th. They set a buy rating and a $202.00 target price on the stock. Finally, Macquarie began coverage on Wyndham Worldwide in a research report on Friday, January 5th. They set an underperform rating on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $128.75.
Wyndham Worldwide (NYSE:WYN) last issued its quarterly earnings data on Wednesday, February 14th. The company reported $1.49 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.35 by $0.14. Wyndham Worldwide had a return on equity of 92.39% and a net margin of 15.35%. The business had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same period in the prior year, the business earned $1.35 earnings per share. The business’s revenue was up 5.6% on a year-over-year basis. sell-side analysts anticipate that Wyndham Worldwide will post 7.03 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Thursday, March 15th will be given a dividend of $0.66 per share. The ex-dividend date of this dividend is Wednesday, March 14th. This is an increase from Wyndham Worldwide’s previous quarterly dividend of $0.58. This represents a $2.64 annualized dividend and a yield of 2.29%. Wyndham Worldwide’s dividend payout ratio is 31.21%.
In related news, CEO Geoffrey A. Ballotti sold 3,731 shares of the stock in a transaction dated Tuesday, March 6th. The stock was sold at an average price of $117.04, for a total transaction of $436,676.24. Following the transaction, the chief executive officer now directly owns 117,843 shares in the company, valued at $13,792,344.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director George Herrera sold 270 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $121.76, for a total value of $32,875.20. The disclosure for this sale can be found here. Insiders have sold 19,510 shares of company stock worth $2,273,541 over the last quarter. 2.39% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Eagle Asset Management Inc. raised its holdings in shares of Wyndham Worldwide by 1.4% in the 4th quarter. Eagle Asset Management Inc. now owns 32,981 shares of the company’s stock worth $3,831,000 after purchasing an additional 459 shares during the period. M&T Bank Corp raised its holdings in shares of Wyndham Worldwide by 2.2% in the 4th quarter. M&T Bank Corp now owns 21,777 shares of the company’s stock worth $2,522,000 after purchasing an additional 464 shares during the period. Boston Private Wealth LLC raised its holdings in shares of Wyndham Worldwide by 3.9% in the 3rd quarter. Boston Private Wealth LLC now owns 12,577 shares of the company’s stock worth $1,326,000 after purchasing an additional 476 shares during the period. ETRADE Capital Management LLC raised its holdings in shares of Wyndham Worldwide by 16.2% in the 3rd quarter. ETRADE Capital Management LLC now owns 3,588 shares of the company’s stock worth $378,000 after purchasing an additional 499 shares during the period. Finally, Public Employees Retirement Association of Colorado raised its holdings in shares of Wyndham Worldwide by 2.7% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 20,678 shares of the company’s stock worth $2,396,000 after purchasing an additional 539 shares during the period. Institutional investors own 92.92% of the company’s stock.
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About Wyndham Worldwide
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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