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Wyndham shares fall after analyst cuts estimates



By AP
01 October 2008 @ 05:49 pm EST

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.

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WYN 3.02 0.04

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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.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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