Wyndham Worldwide Corp. (WYN) Shares Gap Up to $70.43
Wyndham Worldwide Corp. (NYSE:WYN) gapped up before the market opened on Thursday . The stock had previously closed at $70.31, but opened at $70.43. Wyndham Worldwide Corp. shares last traded at $70.78, with a volume of 294,575 shares changing hands.
Several brokerages have recently weighed in on WYN. Wolfe Research began coverage on Wyndham Worldwide Corp. in a research report on Wednesday. They set an “outperform” rating on the stock. Zacks Investment Research cut Wyndham Worldwide Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, June 29th. Deutsche Bank AG reissued a “hold” rating on shares of Wyndham Worldwide Corp. in a report on Sunday, June 26th. MKM Partners boosted their price objective on Wyndham Worldwide Corp. from $88.00 to $89.00 and gave the stock a “buy” rating in a report on Wednesday, April 27th. Finally, Telsey Advisory Group boosted their price objective on Wyndham Worldwide Corp. from $93.00 to $95.00 and gave the stock an “outperform” rating in a report on Wednesday, April 27th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $83.33.
The stock has a market capitalization of $7.95 billion and a price-to-earnings ratio of 14.19. The stock has a 50 day moving average of $68.49 and a 200 day moving average of $70.70.
Wyndham Worldwide Corp. (NYSE:WYN) last announced its earnings results on Tuesday, April 26th. The company reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.01. During the same period in the previous year, the business posted $1.03 earnings per share. The firm earned $1.30 billion during the quarter, compared to analysts’ expectations of $1.31 billion. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, equities research analysts expect that Wyndham Worldwide Corp. will post $5.70 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 10th. Stockholders of record on Friday, May 27th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.82%. The ex-dividend date of this dividend was Wednesday, May 25th.
In other news, Director George Herrera sold 456 shares of the firm’s stock in a transaction dated Wednesday, June 1st. The stock was sold at an average price of $67.48, for a total value of $30,770.88. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Other hedge funds and institutional investors recently bought and sold shares of the company. Mizuho Trust & Banking Co. Ltd. increased its position in Wyndham Worldwide Corp. by 4.6% in the fourth quarter. Mizuho Trust & Banking Co. Ltd. now owns 241,085 shares of the company’s stock valued at $17,570,000 after buying an additional 10,523 shares during the period. Vanguard Group Inc. increased its position in Wyndham Worldwide Corp. by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 9,990,134 shares of the company’s stock valued at $725,784,000 after buying an additional 92,621 shares during the period. Krasney Financial LLC bought a new position in Wyndham Worldwide Corp. during the fourth quarter valued at approximately $5,011,000. Usca Ria LLC increased its position in Wyndham Worldwide Corp. by 37.1% in the fourth quarter. Usca Ria LLC now owns 17,761 shares of the company’s stock valued at $1,290,000 after buying an additional 4,810 shares during the period. Finally, Iridian Asset Management LLC CT increased its position in Wyndham Worldwide Corp. by 23.6% in the fourth quarter. Iridian Asset Management LLC CT now owns 6,879,900 shares of the company’s stock valued at $499,825,000 after buying an additional 1,311,799 shares during the period.
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: Hotel Group, Destination Network and Vacation Ownership. The Hotel Group segment has approximately 7,800 hotels and over 678,000 hotel rooms around the world.