Wynn Resorts (NASDAQ:WYNN) Announces Quarterly Earnings Results

Wynn Resorts (NASDAQ:WYNN) announced its earnings results on Tuesday. The casino operator reported $1.59 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.16, RTT News reports. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.80 billion. Wynn Resorts had a negative return on equity of 31.17% and a net margin of 11.18%. The firm’s revenue for the quarter was up 30.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.29 earnings per share.

Wynn Resorts Trading Up 0.7 %

WYNN stock traded up $0.66 during midday trading on Thursday, hitting $96.41. The company’s stock had a trading volume of 352,991 shares, compared to its average volume of 1,804,503. The company has a market cap of $10.81 billion, a PE ratio of 16.01 and a beta of 1.91. The firm’s 50-day moving average is $100.24 and its 200-day moving average is $95.39. Wynn Resorts has a 12 month low of $81.65 and a 12 month high of $113.50.

Wynn Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Monday, May 20th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.04%. Wynn Resorts’s payout ratio is currently 16.72%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on WYNN shares. Wells Fargo & Company raised their target price on shares of Wynn Resorts from $125.00 to $128.00 and gave the stock an “overweight” rating in a research report on Wednesday. Bank Of America (Bofa) raised their target price on Wynn Resorts from $95.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, January 17th. JPMorgan Chase & Co. upped their price target on Wynn Resorts from $118.00 to $123.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 27th. Macquarie raised their price objective on Wynn Resorts from $122.00 to $128.00 and gave the company an “outperform” rating in a research report on Friday, February 9th. Finally, Susquehanna upped their target price on shares of Wynn Resorts from $105.00 to $115.00 and gave the stock a “positive” rating in a research report on Thursday, February 8th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $122.64.

Insider Transactions at Wynn Resorts

In related news, CFO Julie Cameron-Doe sold 6,383 shares of Wynn Resorts stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $105.27, for a total value of $671,938.41. Following the completion of the sale, the chief financial officer now directly owns 78,150 shares in the company, valued at approximately $8,226,850.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Wynn Resorts news, Director Patricia Mulroy sold 960 shares of the stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $105.17, for a total value of $100,963.20. Following the transaction, the director now owns 522 shares of the company’s stock, valued at $54,898.74. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Julie Cameron-Doe sold 6,383 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $105.27, for a total value of $671,938.41. Following the sale, the chief financial officer now owns 78,150 shares of the company’s stock, valued at $8,226,850.50. The disclosure for this sale can be found here. Company insiders own 0.52% of the company’s stock.

Wynn Resorts Company Profile

Wynn Resorts, Limited designs, develops, and operates integrated resorts. The company operates through four segments: Wynn Palace, Wynn Macau, Las Vegas Operations, and Encore Boston Harbor. The Wynn Palace segment operates private gaming salons and sky casinos; a luxury hotel tower with suites, and villas, including a health club, spa, salon, and pool; food and beverage outlets; retail space; meeting and convention space; and performance lake and floral art displays.