Wynn Resorts (NASDAQ:WYNN) Announces Earnings Results

Wynn Resorts (NASDAQ:WYNN) released its quarterly earnings results on Tuesday. The casino operator reported $1.59 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.16, RTT News reports. The firm had revenue of $1.86 billion during 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 quarterly revenue was up 30.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.29 EPS.

Wynn Resorts Trading Down 0.7 %

NASDAQ WYNN opened at $97.23 on Wednesday. Wynn Resorts has a 52 week low of $81.65 and a 52 week high of $113.50. The stock has a market cap of $10.90 billion, a price-to-earnings ratio of 16.26 and a beta of 1.91. The company has a 50-day moving average price of $100.38 and a two-hundred day moving average price of $95.38.

Wynn Resorts Dividend Announcement

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

Insiders Place Their Bets

In other news, CEO Craig Scott Billings sold 19,235 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $108.00, for a total value of $2,077,380.00. Following the completion of the transaction, the chief executive officer now directly owns 307,904 shares in the company, valued at $33,253,632. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Patricia Mulroy sold 960 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $105.17, for a total value of $100,963.20. Following the completion of the sale, the director now owns 522 shares in the company, valued at approximately $54,898.74. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Craig Scott Billings sold 19,235 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $108.00, for a total transaction of $2,077,380.00. Following the completion of the transaction, the chief executive officer now owns 307,904 shares in the company, valued at approximately $33,253,632. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,578 shares of company stock worth $2,850,282. Insiders own 0.52% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on WYNN shares. StockNews.com upgraded Wynn Resorts from a “hold” rating to a “buy” rating in a report on Thursday, April 4th. Macquarie upped their price target on Wynn Resorts from $122.00 to $128.00 and gave the stock an “outperform” rating in a report on Friday, February 9th. Barclays increased their target price on Wynn Resorts from $123.00 to $124.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Wells Fargo & Company raised their price target on shares of Wynn Resorts from $122.00 to $124.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. Finally, Mizuho initiated coverage on shares of Wynn Resorts in a research report on Thursday, April 4th. They set a “buy” rating and a $131.00 price target for the company. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus 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.