Wyndham Worldwide Corp (NYSE:WYN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Monday, October 30th.
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.”
Other analysts have also recently issued reports about the stock. Telsey Advisory Group cut shares of Wyndham Worldwide Corp from an “outperform” rating to a “market perform” rating and set a $115.00 price target on the stock. in a report 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 assigned a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $108.29.
Wyndham Worldwide Corp (NYSE:WYN) traded up $0.57 during trading on Monday, reaching $108.76. 611,720 shares of the company were exchanged, compared to its average volume of 1,110,000. The company has a current ratio of 0.96, a quick ratio of 0.81 and a debt-to-equity ratio of 9.00. Wyndham Worldwide Corp has a 52-week low of $71.87 and a 52-week high of $110.74. The stock has a market capitalization of $11,070.00, a P/E ratio of 17.77 and a beta of 1.35.
Wyndham Worldwide Corp (NYSE:WYN) last posted its earnings results on Wednesday, October 25th. The company reported $2.03 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.01. The business had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.67 billion. Wyndham Worldwide Corp had a net margin of 10.20% and a return on equity of 97.31%. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.89 earnings per share. analysts anticipate that Wyndham Worldwide Corp will post 6.04 EPS for the current fiscal year.
Wyndham Worldwide Corp announced that its board has initiated a share repurchase program on Wednesday, October 25th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
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In other news, Director George Herrera sold 311 shares of the stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $105.82, for a total value of $32,910.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.39% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Smithfield Trust Co. acquired a new position in Wyndham Worldwide Corp in the second quarter worth approximately $170,000. Janus Henderson Group PLC increased its holdings in Wyndham Worldwide Corp by 861.3% in the second quarter. Janus Henderson Group PLC now owns 125,294 shares of the company’s stock worth $12,581,000 after buying an additional 112,260 shares during the last quarter. Lipe & Dalton acquired a new position in Wyndham Worldwide Corp during the second quarter valued at approximately $3,463,000. State of Tennessee Treasury Department grew its holdings in Wyndham Worldwide Corp by 16.6% during the second quarter. State of Tennessee Treasury Department now owns 101,473 shares of the company’s stock valued at $10,189,000 after purchasing an additional 14,437 shares during the last quarter. Finally, Freestone Capital Holdings LLC grew its holdings in Wyndham Worldwide Corp by 9.0% during the second quarter. Freestone Capital Holdings LLC now owns 43,772 shares of the company’s stock valued at $4,395,000 after purchasing an additional 3,614 shares during the last quarter. 95.75% of the stock is owned by institutional investors and hedge funds.
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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