Wynn Resorts, Limited (NASDAQ:WYNN) – Equities researchers at Jefferies Financial Group cut their FY2019 EPS estimates for shares of Wynn Resorts in a research note issued to investors on Wednesday, November 6th. Jefferies Financial Group analyst D. Katz now forecasts that the casino operator will post earnings of $4.61 per share for the year, down from their prior forecast of $6.22. Jefferies Financial Group also issued estimates for Wynn Resorts’ Q4 2019 earnings at $1.39 EPS.
Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Wednesday, November 6th. The casino operator reported $0.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.90 by ($0.73). Wynn Resorts had a return on equity of 25.33% and a net margin of 10.12%. The firm had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same period in the previous year, the firm earned $1.68 EPS. Wynn Resorts’s revenue for the quarter was down 3.6% on a year-over-year basis.
WYNN has been the topic of several other research reports. Barclays dropped their target price on Wynn Resorts from $157.00 to $150.00 and set an “overweight” rating on the stock in a report on Thursday, September 12th. BidaskClub raised Wynn Resorts from a “sell” rating to a “hold” rating in a report on Saturday, October 12th. Citigroup set a $141.00 target price on Wynn Resorts and gave the stock a “buy” rating in a report on Thursday, September 12th. UBS Group dropped their target price on Wynn Resorts from $119.00 to $114.00 and set a “neutral” rating on the stock in a report on Wednesday, August 21st. Finally, Union Gaming Research cut Wynn Resorts from a “buy” rating to a “hold” rating and dropped their target price for the stock from $150.00 to $135.00 in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the company. Wynn Resorts currently has an average rating of “Buy” and a consensus target price of $137.59.
Shares of NASDAQ:WYNN opened at $120.74 on Monday. Wynn Resorts has a 12 month low of $90.06 and a 12 month high of $151.50. The stock has a market cap of $13.58 billion, a price-to-earnings ratio of 18.46, a PEG ratio of 2.76 and a beta of 2.07. The stock’s 50 day moving average price is $115.39 and its 200 day moving average price is $120.11. The company has a debt-to-equity ratio of 5.75, a current ratio of 1.09 and a quick ratio of 1.05.
A number of institutional investors have recently bought and sold shares of the business. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in Wynn Resorts by 24.0% during the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 16,148 shares of the casino operator’s stock worth $2,002,000 after purchasing an additional 3,129 shares in the last quarter. CSat Investment Advisory L.P. grew its position in Wynn Resorts by 128.8% during the 2nd quarter. CSat Investment Advisory L.P. now owns 476 shares of the casino operator’s stock worth $60,000 after purchasing an additional 268 shares in the last quarter. Gamco Investors INC. ET AL grew its position in Wynn Resorts by 0.8% during the 2nd quarter. Gamco Investors INC. ET AL now owns 103,166 shares of the casino operator’s stock worth $12,792,000 after purchasing an additional 770 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its position in Wynn Resorts by 60.4% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,328 shares of the casino operator’s stock worth $165,000 after purchasing an additional 500 shares in the last quarter. Finally, Beddow Capital Management Inc. grew its position in Wynn Resorts by 0.3% during the 2nd quarter. Beddow Capital Management Inc. now owns 45,885 shares of the casino operator’s stock worth $5,689,000 after purchasing an additional 125 shares in the last quarter. Hedge funds and other institutional investors own 75.76% of the company’s stock.
In other Wynn Resorts news, CEO Matt Maddox sold 25,000 shares of Wynn Resorts stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $122.47, for a total value of $3,061,750.00. Following the transaction, the chief executive officer now owns 407,107 shares in the company, valued at $49,858,394.29. The transaction was disclosed in a document filed with the SEC, which is available at this link. In the last 90 days, insiders sold 75,000 shares of company stock worth $8,750,250. 0.58% of the stock is currently owned by company insiders.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Thursday, November 14th will be given a $1.00 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $4.00 annualized dividend and a yield of 3.31%. Wynn Resorts’s dividend payout ratio (DPR) is 61.16%.
Wynn Resorts Company Profile
Wynn Resorts, Limited owns and operates destination casino resorts. As of February 20, 2019, the company's Wynn Palace segment had approximately 424,000 square feet of casino space, which offered 320 table games and 1,041 slot machines, private gaming salons, and sky casinos; a luxury hotel towers with 1,706 guest rooms, suites, and villas; 13 food and beverage outlets; 106,000 square feet of retail space; 37,000 square feet of meeting and convention space; recreation and leisure facilities comprising a gondola ride, health club, spa, salon, and pool; and public attractions, such as performance lake and floral art displays.
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