Wynn Resorts (NASDAQ:WYNN) Announces Earnings Results, Misses Estimates By $0.11 EPS

Wynn Resorts (NASDAQ:WYNN) announced its earnings results on Monday. The casino operator reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.11), RTT News reports. The firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.73 billion. Wynn Resorts had a net margin of 13.37% and a negative return on equity of 62.44%. Wynn Resorts’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period last year, the firm earned $0.99 earnings per share.

Wynn Resorts Stock Performance

WYNN traded up $2.09 during trading on Thursday, reaching $87.41. 1,170,777 shares of the company’s stock were exchanged, compared to its average volume of 2,162,591. The company’s fifty day moving average price is $90.58 and its 200-day moving average price is $88.67. The firm has a market capitalization of $9.70 billion, a PE ratio of 10.52, a P/E/G ratio of 2.48 and a beta of 1.80. Wynn Resorts has a fifty-two week low of $71.63 and a fifty-two week high of $110.38.

Wynn Resorts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.14%. Wynn Resorts’s payout ratio is currently 12.33%.

Wall Street Analyst Weigh In

WYNN has been the subject of a number of analyst reports. Jefferies Financial Group reduced their price objective on shares of Wynn Resorts from $111.00 to $96.00 and set a “hold” rating for the company in a research note on Thursday, July 11th. Susquehanna increased their price objective on shares of Wynn Resorts from $92.00 to $122.00 and gave the company a “positive” rating in a research note on Friday, October 11th. Macquarie restated an “outperform” rating and set a $120.00 price target on shares of Wynn Resorts in a research note on Tuesday. JPMorgan Chase & Co. raised their target price on Wynn Resorts from $101.00 to $113.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Wynn Resorts from $122.00 to $118.00 and set a “buy” rating on the stock in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $115.71.

Insider Transactions at Wynn Resorts

In other news, Director Patricia Mulroy sold 2,650 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $78.73, for a total transaction of $208,634.50. Following the completion of the transaction, the director now directly owns 5,689 shares in the company, valued at approximately $447,894.97. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.52% of the stock is owned by corporate insiders.

About Wynn Resorts

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.