NEW YORK - Wyndham Worldwide Corp.'s shares fell Wednesday afternoon after an analyst lowered his 2009 estimates for the lodging company, citing lower room revenue, slower timeshare sales and an uncertain economic outlook.
| WYN | 3.02 |
Wyndham shares lost 42 cents, or 2.7 percent, to $15.29. The stock has traded between $14.38 and $33.80 during the past 52 weeks.
Thomas Weisel Partners analyst Jake Fuller reduced his 2009 earnings estimate to $2.32 per share from $2.38 per share. Analysts polled by Thomson Financial forecast earnings per share of $2.35 per share.
Fuller, however, maintained the Aberdeen, S.D., company's "Overweight" rating.
"We continue to see (Wyndham) as a compelling value on a view that the market is effectively paying nothing for its timeshare business," Fuller wrote in a research note late Tuesday. He said progress on a financial bailout may boost the sector.
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