Wynn Resorts (NASDAQ:WYNN - Get Free Report) posted its earnings results on Thursday. The casino operator reported $1.09 earnings per share for the quarter, missing analysts' consensus estimates of $1.20 by ($0.11), Zacks reports. The company had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.74 billion. Wynn Resorts had a net margin of 5.51% and a negative return on equity of 56.78%. The firm's revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.12 EPS.
Wynn Resorts Stock Down 1.2%
Shares of NASDAQ WYNN traded down $1.29 during midday trading on Wednesday, reaching $111.20. The company had a trading volume of 763,243 shares, compared to its average volume of 2,465,010. Wynn Resorts has a one year low of $65.25 and a one year high of $112.57. The firm's fifty day moving average price is $100.72 and its 200-day moving average price is $90.08. The stock has a market cap of $11.56 billion, a PE ratio of 33.37, a price-to-earnings-growth ratio of 2.99 and a beta of 1.41.
Wynn Resorts Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Monday, August 18th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Monday, August 18th. Wynn Resorts's payout ratio is 30.03%.
Insider Buying and Selling at Wynn Resorts
In other news, Director Patricia Mulroy sold 2,262 shares of the business's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $92.12, for a total value of $208,375.44. Following the completion of the sale, the director owned 3,066 shares of the company's stock, valued at approximately $282,439.92. The trade was a 42.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.52% of the company's stock.
Institutional Investors Weigh In On Wynn Resorts
A number of hedge funds and other institutional investors have recently modified their holdings of WYNN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Wynn Resorts by 10.5% in the 1st 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 last quarter. Woodline Partners LP raised its position in Wynn Resorts by 36.2% during the 1st quarter. Woodline Partners LP now owns 7,568 shares of the casino operator's stock valued at $632,000 after purchasing an additional 2,012 shares during the last quarter. Geneos Wealth Management Inc. raised its position in Wynn Resorts by 69.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator's stock valued at $32,000 after purchasing an additional 156 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its position in Wynn Resorts by 13.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,659 shares of the casino operator's stock valued at $155,000 after purchasing an additional 201 shares during the last quarter. Institutional investors own 88.64% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts recently commented on WYNN shares. Macquarie lifted their price target on Wynn Resorts from $110.00 to $124.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Bank of America upgraded Wynn Resorts from a "neutral" rating to a "buy" rating and set a $100.00 price target on the stock in a report on Wednesday, May 7th. Jefferies Financial Group lifted their price target on Wynn Resorts from $130.00 to $133.00 and gave the stock a "buy" rating in a report on Monday. UBS Group reiterated a "neutral" rating and set a $101.00 price target (up from $83.00) on shares of Wynn Resorts in a report on Tuesday, July 8th. Finally, Morgan Stanley raised their target price on Wynn Resorts from $111.00 to $113.00 and gave the stock an "overweight" rating in a research report on Tuesday. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $118.64.
Check Out Our Latest Research Report on WYNN
Wynn Resorts Company Profile
(
Get Free Report)
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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