Starwood Hotels & Resorts Beats Estimates (NYSE: HOT)

White Plains, New York-based Starwood Hotels & Resorts Worldwide Inc. HOT on Thursday morning released financial results that beat Wall Street expectations. Starwood Hotels & Resorts Worldwide Inc reported that it swung to a 4th quarter profit, with net income of $339 million, or $1.78 per share, compared to a net loss of $107 million, or 59 cents per share, a year earlier. Excluding special items, the company earned 52 cents per share. Starwood Hotels & Resorts Worldwide Inc reported revenue of $1.34 billion, up 7.5% from $1.25 billion a year earlier. A poll of analysts conducted by Thomson Reuters showed an average Wall Street estimate of expected earnings of 39 cents per share, on revenue of $1.33 billion. Starwood Hotels & Resorts Worldwide Inc. (HOT) ended the previous trading session at $60.81 per share. Analysts covering the company's stock have a consensus price target of $65.29 per share. Starwood Hotels & Resorts Worldwide Inc is one of the leading hotel and leisure companies in the world with 1025 properties in 100 countries and territories with 145,000 employees at its owned and managed properties. Read more from Benzinga's Company news.