Marriott Vacations: Timeshare Stock Rocks Since Septembe
Marriott Vacations: Timeshare Stock Rocks Since September
Marriott Vacations Worldwide Corporation (VAC – Snapshot Report) raised its adjusted earnings per share outlook for 2012 during its third-quarter report, which helped this timeshare company hit a 52-week high of $41.73 on October 18. Marriott Vacations Worldwide posted adjusted net income of $8 million for the third quarter; up $5 million from Last year. However, adjusted earnings of 23 cents per share fell short of the Zacks Consensus Estimate.
Total revenue inched up 1.3% to $383 million, benefiting from higher rental revenues, resort management and other services revenues and cost reimbursements. The North America segment continued its strong performance with contract sales up 13% and volume per guest up 19%. Click here for the full story.