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

Key Points

• Wynn Resorts reported an earnings per share (EPS) of $1.09 for the quarter, missing analysts' expectations of $1.20 by $0.11.
• The company has announced a quarterly dividend of $0.25 per share, representing an annual yield of 0.9%.
• Despite the earnings miss, analysts maintain a consensus rating of "Moderate Buy" with an average target price of $116.57 for the stock.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) announced its earnings results on Thursday. The casino operator reported $1.09 EPS for the quarter, missing analysts' consensus estimates of $1.20 by ($0.11), Zacks reports. Wynn Resorts had a net margin of 5.51% and a negative return on equity of 58.99%. The business had revenue of $1.74 billion for the quarter, compared to analysts' expectations of $1.74 billion. During the same period in the prior year, the company posted $1.12 earnings per share. The firm's quarterly revenue was up .6% on a year-over-year basis.

Wynn Resorts Stock Performance

WYNN stock traded down $0.82 during trading on Friday, hitting $106.41. 4,211,185 shares of the company's stock traded hands, compared to its average volume of 1,679,787. Wynn Resorts has a 52 week low of $65.25 and a 52 week high of $112.36. The business has a fifty day simple moving average of $99.81 and a 200 day simple moving average of $89.69. The stock has a market capitalization of $11.13 billion, a price-to-earnings ratio of 31.96, a P/E/G ratio of 2.96 and a beta of 1.41.

Wynn Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Monday, August 18th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, August 18th. This represents a $1.00 annualized dividend and a yield of 0.9%. Wynn Resorts's dividend payout ratio (DPR) is 27.78%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on WYNN shares. Mizuho reduced their target price on shares of Wynn Resorts from $132.00 to $122.00 and set an "outperform" rating for the company in a report on Thursday, May 8th. Barclays upped their target price on shares of Wynn Resorts from $101.00 to $127.00 and gave the company an "overweight" rating in a report on Friday, July 18th. The Goldman Sachs Group initiated coverage on shares of Wynn Resorts in a research note on Monday, July 7th. They issued a "buy" rating and a $122.00 price objective for the company. UBS Group reissued a "neutral" rating and issued a $101.00 price objective (up from $83.00) on shares of Wynn Resorts in a research note on Tuesday, July 8th. Finally, Stifel Nicolaus increased their price objective on shares of Wynn Resorts from $113.00 to $130.00 and gave the stock a "buy" rating in a research note on Friday. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Wynn Resorts currently has a consensus rating of "Moderate Buy" and a consensus target price of $116.57.

Insider Buying and Selling

In other Wynn Resorts news, Director Patricia Mulroy sold 2,262 shares of the stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $92.12, for a total transaction of $208,375.44. Following the completion of the transaction, the director owned 3,066 shares in the company, valued at $282,439.92. This trade represents a 42.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.52% of the stock is owned by company insiders.

Institutional Investors Weigh In On Wynn Resorts

Several hedge funds and other institutional investors have recently made changes to their positions in WYNN. Woodline Partners LP raised its stake in shares of Wynn Resorts by 36.2% in the first quarter. Woodline Partners LP now owns 7,568 shares of the casino operator's stock valued at $632,000 after acquiring an additional 2,012 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Wynn Resorts by 10.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,961 shares of the casino operator's stock valued at $665,000 after acquiring an additional 754 shares during the period. Finally, Geneos Wealth Management Inc. raised its stake in shares of Wynn Resorts by 69.0% in the first quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator's stock valued at $32,000 after acquiring an additional 156 shares during the period. Hedge funds and other institutional investors own 88.64% of the company's stock.

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.

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