Zacks Investment Research upgraded shares of Wyndham Destinations (NYSE:WYND) from a hold rating to a buy rating in a research note published on Tuesday, Zacks.com reports. Zacks Investment Research 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. “
Other equities analysts have also issued reports about the company. JPMorgan Chase & Co. raised their target price on Wyndham Destinations from $45.00 to $47.00 and gave the company a neutral rating in a report on Friday, September 6th. SunTrust Banks set a $75.00 target price on Wyndham Destinations and gave the company a buy rating in a report on Wednesday, July 31st. Nomura raised their target price on Wyndham Destinations from $55.00 to $62.00 and gave the company a buy rating in a report on Wednesday, July 31st. Finally, Jefferies Financial Group set a $62.00 target price on Wyndham Destinations and gave the company a buy rating in a report on Friday, August 30th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Wyndham Destinations currently has an average rating of Buy and an average price target of $57.63.
Wyndham Destinations (NYSE:WYND) last posted its earnings results on Tuesday, July 30th. The company reported $1.45 earnings per share for the quarter, beating the Thomson Reuters’ 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 company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period last year, the company earned $1.25 earnings per share. The business’s revenue was up 3.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Wyndham Destinations will post 5.54 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.45 per share. The ex-dividend date is Thursday, September 12th. This represents a $1.80 annualized dividend and a yield of 3.82%. Wyndham Destinations’s dividend payout ratio (DPR) is currently 38.38%.
In other news, Director George Herrera sold 1,904 shares of Wyndham Destinations 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 Kimberly Marshall sold 5,300 shares of Wyndham Destinations stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $42.98, for a total value of $227,794.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,007 shares of company stock worth $667,440. Corporate insiders own 1.59% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. bought a new position in shares of Wyndham Destinations in the second quarter worth about $406,681,000. Iridian Asset Management LLC CT acquired a new stake in Wyndham Destinations during the second quarter worth about $310,725,000. Investec Asset Management LTD acquired a new stake in Wyndham Destinations during the second quarter worth about $179,747,000. FMR LLC acquired a new stake in Wyndham Destinations during the first quarter worth about $133,991,000. Finally, LSV Asset Management acquired a new stake in Wyndham Destinations during the second quarter worth about $130,092,000. Institutional investors and hedge funds 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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