Starwood Hotels & Resorts Worldwide Inc (HOT) reported quarterly earnings results on Tuesday, May-3-2016. The company said it had a profit of $0.70 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.11. Analysts had a consensus of $0.59. The company posted revenue of $1404.00 million in the period, compared to analysts expectations of $1333.30 million. The company’s revenue was down -.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.65 EPS.
Many Wall Street Analysts have commented on Starwood Hotels & Resorts Worldwide Inc. Starwood Hotels & Resorts Worldwide Inc was Upgraded by Susquehanna to ” Positive” on Apr 4, 2016. Company shares were Reiterated by Canaccord Genuity on Mar 23, 2016 to “Buy”, Firm has raised the Price Target to $ 88 from a previous price target of $76 .Starwood Hotels & Resorts Worldwide Inc was Downgraded by Susquehanna to ” Neutral” on Mar 22, 2016.
Starwood Hotels & Resorts Worldwide Inc opened for trading at $82.03 and hit $82.36 on the upside on Monday, eventually ending the session at $82.12, with a gain of 0.29% or 0.24 points. The heightened volatility saw the trading volume jump to 34,53,994 shares. Company has a market cap of $13,841 M.
In a different news, on Mar 9, 2016, Martha Poulter (EVP & CIO) sold 2,481 shares at $70.61 per share price. According to the SEC, on Feb 26, 2016, Thomas E Clarke (director) sold 2,852 shares at $65.96 per share price. On Feb 26, 2016, Charlene Barshefsky (director) sold 2,286 shares at $65.97 per share price, according to the Form-4 filing with the securities and exchange commission.
Starwood Hotels & Resorts Worldwide Inc. is a hotel and leisure company. The Companys hotel business is focused on the global operation of hotels and resorts primarily in the luxury and upper upscale segments of the lodging industry. The Company owns Starwood Vacation Ownership Inc. a provider of world-class vacation experiences through villa-style resorts and privileged access to Starwood brands. It manages and operates its hotel business in three hotel segments: the Americas Europe Africa and the Middle East (EAME) and Asia Pacific. Its vacation ownership and residential business is a separate segment. As of December 31 2014 the Companys hotel business included 1207 owned managed or franchised hotels with approximately 346600 rooms comprising 36 hotels that it owns or leases or in which the Company has a majority equity interest 583 hotels managed by the Company on behalf of third-party owners and 588 hotels for which it receives franchise fees.