Wynn Resorts (NASDAQ:WYNN) Releases Quarterly Earnings Results

Wynn Resorts (NASDAQ:WYNNGet Free Report) issued its quarterly earnings data on Thursday. The casino operator reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.20), Zacks reports. Wynn Resorts had a net margin of 7.09% and a negative return on equity of 54.88%. The company had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.85 billion.

Wynn Resorts Trading Down 6.6%

Wynn Resorts stock traded down $7.66 during midday trading on Thursday, hitting $107.85. The stock had a trading volume of 2,676,055 shares, compared to its average volume of 1,370,138. The business has a fifty day moving average price of $118.99 and a 200 day moving average price of $120.19. Wynn Resorts has a 12 month low of $65.25 and a 12 month high of $134.72. The stock has a market cap of $11.21 billion, a P/E ratio of 24.13, a P/E/G ratio of 10.09 and a beta of 1.06.

Institutional Investors Weigh In On Wynn Resorts

Several institutional investors and hedge funds have recently made changes to their positions in WYNN. Palidye Holdings Caymans Ltd acquired a new stake in shares of Wynn Resorts in the 2nd quarter worth about $104,629,000. Zurich Insurance Group Ltd FI bought a new position in Wynn Resorts in the 3rd quarter worth about $110,213,000. Barrow Hanley Mewhinney & Strauss LLC increased its stake in shares of Wynn Resorts by 9.5% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,680,631 shares of the casino operator’s stock valued at $442,890,000 after purchasing an additional 320,502 shares during the period. Comerica Bank boosted its position in shares of Wynn Resorts by 820.1% during the third quarter. Comerica Bank now owns 225,616 shares of the casino operator’s stock worth $28,940,000 after buying an additional 201,096 shares during the period. Finally, Marshall Wace LLP grew its holdings in Wynn Resorts by 119.5% in the 2nd quarter. Marshall Wace LLP now owns 24,532 shares of the casino operator’s stock worth $2,298,000 after buying an additional 150,032 shares in the last quarter. 88.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WYNN has been the topic of several recent analyst reports. Susquehanna reissued a “positive” rating and issued a $133.00 price target on shares of Wynn Resorts in a research note on Thursday. UBS Group increased their price target on Wynn Resorts from $147.00 to $148.00 and gave the company a “buy” rating in a report on Friday, January 16th. Stifel Nicolaus boosted their price objective on Wynn Resorts from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, December 8th. Jefferies Financial Group boosted their target price on shares of Wynn Resorts from $146.00 to $155.00 and gave the stock a “buy” rating in a research report on Monday, December 8th. Finally, Wells Fargo & Company started coverage on Wynn Resorts in a research note on Tuesday, November 18th. They set an “overweight” rating and a $151.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $139.64.

Check Out Our Latest Stock Analysis on Wynn Resorts

Key Headlines Impacting Wynn Resorts

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About Wynn Resorts

(Get Free Report)

Wynn Resorts, Limited (NASDAQ: WYNN) is a global developer and operator of luxury resorts and casinos, renowned for its premium hospitality offerings and integrated entertainment experiences. The company specializes in high-end hotel accommodations, gaming operations, fine dining restaurants, retail outlets, meeting and convention spaces, and live entertainment venues. Its properties are designed to cater to both leisure and business travelers seeking upscale environments and world-class service.

Founded in 2002 by hospitality entrepreneur Steve Wynn, the company opened its flagship property, Wynn Las Vegas, on the Las Vegas Strip in 2005, followed by Encore Las Vegas in 2008.

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Earnings History for Wynn Resorts (NASDAQ:WYNN)

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