$759.80 Million in Sales Expected for Wynn Resorts, Limited (NASDAQ:WYNN) This Quarter


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Equities analysts expect Wynn Resorts, Limited (NASDAQ:WYNN) to announce sales of $759.80 million for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Wynn Resorts’ earnings, with the lowest sales estimate coming in at $738.17 million and the highest estimate coming in at $784.21 million. Wynn Resorts reported sales of $953.72 million in the same quarter last year, which indicates a negative year-over-year growth rate of 20.3%. The business is scheduled to issue its next earnings report on Wednesday, May 5th.

On average, analysts expect that Wynn Resorts will report full year sales of $4.20 billion for the current financial year, with estimates ranging from $3.97 billion to $4.62 billion. For the next year, analysts anticipate that the company will post sales of $6.14 billion, with estimates ranging from $5.54 billion to $6.55 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Wynn Resorts.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Thursday, February 4th. The casino operator reported ($2.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.22) by ($0.23). Wynn Resorts had a negative net margin of 25.71% and a negative return on equity of 96.61%. The firm had revenue of $686.00 million for the quarter, compared to the consensus estimate of $751.05 million. During the same period in the prior year, the business earned $0.86 earnings per share.

A number of brokerages have weighed in on WYNN. JPMorgan Chase & Co. boosted their target price on shares of Wynn Resorts from $119.00 to $143.00 and gave the stock an “overweight” rating in a research note on Monday, March 15th. Credit Suisse Group boosted their target price on shares of Wynn Resorts from $80.00 to $99.00 and gave the stock a “neutral” rating in a research note on Monday, February 8th. Stifel Nicolaus lifted their price target on shares of Wynn Resorts from $135.00 to $157.00 and gave the stock a “buy” rating in a research report on Monday, March 15th. Zacks Investment Research upgraded shares of Wynn Resorts from a “sell” rating to a “hold” rating and set a $114.00 price target for the company in a research report on Friday, February 5th. Finally, Smith Barney Citigroup cut shares of Wynn Resorts from a “buy” rating to a “sell” rating in a research report on Thursday, January 7th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company’s stock. Wynn Resorts presently has a consensus rating of “Hold” and a consensus target price of $108.76.

Shares of NASDAQ WYNN traded down $4.51 during trading on Tuesday, reaching $124.35. The company had a trading volume of 4,776,906 shares, compared to its average volume of 2,654,420. Wynn Resorts has a 52 week low of $67.54 and a 52 week high of $143.88. The stock has a market cap of $14.38 billion, a PE ratio of -11.90 and a beta of 2.32. The company has a debt-to-equity ratio of 45.50, a quick ratio of 2.22 and a current ratio of 2.27. The business’s 50 day moving average price is $129.26 and its 200-day moving average price is $112.17.

In other news, CFO Craig Scott Billings sold 3,015 shares of the company’s stock in a transaction that occurred on Thursday, March 25th. The shares were sold at an average price of $127.50, for a total value of $384,412.50. Following the completion of the transaction, the chief financial officer now owns 101,493 shares in the company, valued at $12,940,357.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Patricia Mulroy sold 400 shares of the company’s stock in a transaction that occurred on Tuesday, February 16th. The shares were sold at an average price of $119.79, for a total transaction of $47,916.00. Following the completion of the transaction, the director now owns 6,897 shares of the company’s stock, valued at approximately $826,191.63. The disclosure for this sale can be found here. 0.75% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the company. Creative Financial Designs Inc. ADV acquired a new position in shares of Wynn Resorts in the fourth quarter valued at approximately $25,000. Eudaimonia Partners LLC acquired a new position in shares of Wynn Resorts in the fourth quarter valued at approximately $26,000. International Assets Investment Management LLC boosted its holdings in shares of Wynn Resorts by 235.3% in the first quarter. International Assets Investment Management LLC now owns 285 shares of the casino operator’s stock valued at $35,000 after buying an additional 200 shares during the period. Reilly Financial Advisors LLC lifted its position in shares of Wynn Resorts by 200.0% in the first quarter. Reilly Financial Advisors LLC now owns 300 shares of the casino operator’s stock worth $38,000 after purchasing an additional 200 shares in the last quarter. Finally, Manchester Financial Inc. lifted its position in shares of Wynn Resorts by 45.1% in the fourth quarter. Manchester Financial Inc. now owns 344 shares of the casino operator’s stock worth $39,000 after purchasing an additional 107 shares in the last quarter. Institutional investors own 69.49% of the company’s stock.

About Wynn Resorts

Wynn Resorts Ltd. is a holding company, which engages in the design, development, and operation of destination casino resorts. It operates through the following segments: Wynn Palace, Wynn Macau, Las Vegas Operations, and Encore Boston Harbor. The company was founded by Stephen Alan Wynn, Elaine P. Wynn, and Kazuo Okada in 2002 and is headquartered in Las Vegas, NV.

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Earnings History and Estimates for Wynn Resorts (NASDAQ:WYNN)

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