Wynn Resorts (NASDAQ:WYNN) Releases Earnings Results, Beats Expectations By $0.16 EPS

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

Wynn Resorts Price Performance

Wynn Resorts stock traded down $0.64 during trading hours on Tuesday, hitting $97.23. The company had a trading volume of 2,820,303 shares, compared to its average volume of 1,792,427. Wynn Resorts has a one year low of $81.65 and a one year high of $113.50. The firm has a 50-day moving average of $100.49 and a 200 day moving average of $95.32. The firm has a market cap of $10.90 billion, a PE ratio of 16.26 and a beta of 1.91.

Wynn Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Monday, May 20th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.03%. Wynn Resorts’s payout ratio is 16.72%.

Insider Activity

In other news, CEO Craig Scott Billings sold 19,235 shares of Wynn Resorts stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $108.00, for a total transaction of $2,077,380.00. Following the completion of the sale, the chief executive officer now owns 307,904 shares of the company’s stock, valued at $33,253,632. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Wynn Resorts news, Director Patricia Mulroy sold 960 shares of Wynn Resorts stock in a transaction on Friday, February 9th. The stock was sold at an average price of $105.17, for a total value of $100,963.20. Following the completion of the transaction, the director now directly owns 522 shares of the company’s stock, valued at approximately $54,898.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Craig Scott Billings sold 19,235 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $108.00, for a total value of $2,077,380.00. Following the sale, the chief executive officer now directly owns 307,904 shares in the company, valued at $33,253,632. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,578 shares of company stock valued at $2,850,282. 0.52% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on WYNN. Bank Of America (Bofa) increased their price objective on shares of Wynn Resorts from $95.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 17th. StockNews.com upgraded Wynn Resorts from a “hold” rating to a “buy” rating in a report on Thursday, April 4th. JPMorgan Chase & Co. boosted their target price on Wynn Resorts from $118.00 to $123.00 and gave the company an “overweight” rating in a research note on Tuesday, February 27th. Mizuho assumed coverage on shares of Wynn Resorts in a report on Thursday, April 4th. They issued a “buy” rating and a $131.00 price objective on the stock. Finally, UBS Group reduced their target price on shares of Wynn Resorts from $117.00 to $108.00 and set a “neutral” rating for the company in a report on Tuesday, February 6th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $121.43.

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.