Wynn Resorts (NASDAQ:WYNN) Issues Earnings Results

Wynn Resorts (NASDAQ:WYNN - Get Free Report) announced its quarterly earnings data on Tuesday. The casino operator reported $1.59 earnings per share (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 analysts' expectations of $1.80 billion. Wynn Resorts had a net margin of 11.18% and a negative return on equity of 31.17%. The firm's revenue was up 30.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.29 EPS.

Wynn Resorts Trading Down 0.7 %

WYNN traded down $0.64 during trading on Tuesday, reaching $97.23. The stock had a trading volume of 2,946,604 shares, compared to its average volume of 1,793,711. Wynn Resorts has a one year low of $81.65 and a one year high of $113.50. The company has a market capitalization of $10.90 billion, a price-to-earnings ratio of 16.26 and a beta of 1.91. The stock's 50 day moving average is $100.49 and its two-hundred day moving average is $95.32.

Wynn Resorts Dividend Announcement

The company also recently declared 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 annualized dividend and a dividend yield of 1.03%. Wynn Resorts's dividend payout ratio is presently 16.72%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on WYNN shares. Wells Fargo & Company boosted their target price on Wynn Resorts from $122.00 to $124.00 and gave the company an "overweight" rating in a research note on Thursday, February 8th. StockNews.com upgraded shares of Wynn Resorts from a "hold" rating to a "buy" rating in a report on Thursday, April 4th. Susquehanna upped their price target on shares of Wynn Resorts from $105.00 to $115.00 and gave the company a "positive" rating in a report on Thursday, February 8th. Macquarie raised their price target on shares of Wynn Resorts from $122.00 to $128.00 and gave the stock an "outperform" rating in a report on Friday, February 9th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Wynn Resorts from $118.00 to $123.00 and gave the company an "overweight" rating in a research note on Tuesday, February 27th. Four equities 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 stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $121.43.

Insider Activity

In related news, Director Patricia Mulroy sold 960 shares of Wynn Resorts stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $105.17, for a total transaction 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 filing with the SEC, which is available at this hyperlink. In related news, Director Patricia Mulroy sold 960 shares of the firm's stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $105.17, for a total transaction of $100,963.20. Following the completion of the transaction, the director now owns 522 shares of the company's stock, valued at approximately $54,898.74. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Craig Scott Billings sold 19,235 shares of the business's 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 completion of 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. In the last 90 days, insiders have sold 26,578 shares of company stock worth $2,850,282. Corporate insiders own 0.52% of the company's stock.

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.