Zacks Investment Research upgraded shares of Wyndham Destinations (NYSE:WYND) from a hold rating to a buy rating in a research report released on Tuesday, Zacks.com reports. The firm currently has $54.00 price objective on the stock.
According to Zacks, “Wyndham Destinations, Inc. operates as a hospitality company. It offers hotel management and vacation exchange and rental services, as well as develops, markets and sells vacation ownership interests to individual consumers. The Company franchises hotels in the upscale, midscale, and economy segments of the lodging industries. Wyndham Destinations, Inc., formerly known as Wyndham Worldwide Corporation, is based in FL, United States. “
Several other brokerages also recently weighed in on WYND. Nomura upped their price objective on Wyndham Destinations from $55.00 to $62.00 and gave the stock a buy rating in a research report on Wednesday, July 31st. Jefferies Financial Group set a $62.00 price objective on Wyndham Destinations and gave the stock a buy rating in a research report on Friday, August 30th. SunTrust Banks set a $75.00 price objective on Wyndham Destinations and gave the stock a buy rating in a research report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. upped their price objective on Wyndham Destinations from $45.00 to $47.00 and gave the stock a neutral rating in a research report on Friday, September 6th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has an average rating of Buy and a consensus target price of $57.63.
Wyndham Destinations (NYSE:WYND) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.09. Wyndham Destinations had a negative return on equity of 90.37% and a net margin of 11.67%. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the prior year, the company earned $1.25 EPS. Wyndham Destinations’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, analysts anticipate that Wyndham Destinations will post 5.54 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be given a $0.45 dividend. The ex-dividend date is Thursday, September 12th. This represents a $1.80 annualized dividend and a yield of 3.87%. Wyndham Destinations’s dividend payout ratio is presently 38.38%.
In other Wyndham Destinations news, Director George Herrera sold 1,904 shares of the stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $48.70, for a total value of $92,724.80. Also, insider Michael Dean Brown bought 5,000 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was purchased at an average price of $40.16 per share, with a total value of $200,800.00. The disclosure for this purchase can be found here. Insiders sold 15,007 shares of company stock valued at $667,440 over the last quarter. Corporate insiders own 1.59% of the company’s stock.
A number of institutional investors have recently bought and sold shares of WYND. NuWave Investment Management LLC bought a new position in Wyndham Destinations in the second quarter valued at about $25,000. Huntington National Bank bought a new position in Wyndham Destinations in the second quarter valued at about $25,000. First Financial Corp IN bought a new position in Wyndham Destinations in the second quarter valued at about $26,000. Manchester Capital Management LLC bought a new position in Wyndham Destinations in the second quarter valued at about $27,000. Finally, Trustcore Financial Services LLC bought a new position in Wyndham Destinations in the second quarter valued at about $28,000. Hedge funds and other institutional investors own 88.35% of the company’s stock.
About Wyndham Destinations
Wyndham Destinations, Inc operates as a vacation ownership and exchange company in the United States and internationally. The company operates in two segments, Vacation Ownership and Exchange & Rentals. The Vacation Ownership segment develops, markets, and sells vacation ownership interests (VOIs) to individual consumers; provides consumer financing in connection with the sale of VOIs; and provides property management services at resorts.
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