Wyndham Worldwide Corp. (WYN) Shares Gap Up to $70.43
Wyndham Worldwide Corp. (NYSE:WYN) shares gapped up prior to trading 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.
A number of research analysts have commented on WYN shares. Stifel Nicolaus upped their price objective on Wyndham Worldwide Corp. from $80.00 to $83.00 and gave the company a “buy” rating in a report on Tuesday, March 15th. Telsey Advisory Group increased their target price on Wyndham Worldwide Corp. from $93.00 to $95.00 and gave the stock an “outperform” rating in a report on Wednesday, April 27th. MKM Partners increased their target price on Wyndham Worldwide Corp. from $88.00 to $89.00 and gave the stock a “buy” rating in a report on Wednesday, April 27th. Deutsche Bank AG reissued a “hold” rating on shares of Wyndham Worldwide Corp. in a report on Sunday, June 26th. Finally, Zacks Investment Research lowered Wyndham Worldwide Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, June 29th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $83.33.
The firm has a 50 day moving average of $68.66 and a 200 day moving average of $70.71. The firm has a market capitalization of $8.10 billion and a price-to-earnings ratio of 14.46.
Wyndham Worldwide Corp. (NYSE:WYN) last issued its earnings results on Tuesday, April 26th. The company reported $1.12 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.01. The firm earned $1.30 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the previous year, the firm earned $1.03 earnings per share. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. Analysts predict that Wyndham Worldwide Corp. will post $5.71 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, June 10th. Shareholders of record on Friday, May 27th were paid a $0.50 dividend. The ex-dividend date was Wednesday, May 25th. This represents a $2.00 annualized dividend and a dividend yield of 2.76%.
In other Wyndham Worldwide Corp. news, Director George Herrera sold 456 shares of the business’s stock in a transaction on Wednesday, June 1st. The stock was sold at an average price of $67.48, for a total value of $30,770.88. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Several hedge funds recently added to or reduced their stakes in the stock. Iridian Asset Management LLC CT raised its stake 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 worth $499,825,000 after buying an additional 1,311,799 shares during the last quarter. Morgan Stanley raised its stake in Wyndham Worldwide Corp. by 43.5% in the fourth quarter. Morgan Stanley now owns 587,404 shares of the company’s stock worth $42,675,000 after buying an additional 178,035 shares during the last quarter. Vanguard Group Inc. raised its stake 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 worth $725,784,000 after buying an additional 92,621 shares during the last quarter. Krasney Financial LLC bought a new stake in Wyndham Worldwide Corp. during the fourth quarter worth about $5,011,000. Finally, New York State Common Retirement Fund raised its stake in Wyndham Worldwide Corp. by 8.5% in the fourth quarter. New York State Common Retirement Fund now owns 590,092 shares of the company’s stock worth $42,870,000 after buying an additional 46,260 shares during the last quarter.
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.
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