Wyndham Worldwide Reports Decent 4Q Results This Morning

JP Morgan has published a research report on Wyndham Worldwide

after the company reported its decent 4Q results this morning. In the report, JP Morgan writes "4Q10 adjusted EPS of $0.46 was $0.02 ahead of our estimate/Consensus and guidance of $0.40 to $0.44. We calculate adjusted EBITDA of $190m, which was a hair below our $193m estimate and the Street's $194m. Revenues of $937m were right in line with our estimate. Across WYN's three segments, there were no large variances in reported results versus our segment forecasts. The $0.03 of EPS variance (actual vs. JPM estimate) is related to lower-than-forecasted D&A, interest expense and share count (as WYN purchased $47m of stock in the 4Q, $30m more than we forecast)." JP Morgan maintains its Overweight rating on Wyndham Worldwide, which closed yesterday at $30.85.