$1.73 Billion in Sales Expected for Wynn Resorts, Limited (NASDAQ:WYNN) This Quarter

Equities research analysts expect Wynn Resorts, Limited (NASDAQ:WYNN) to announce sales of $1.73 billion for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Wynn Resorts’ earnings. The lowest sales estimate is $1.65 billion and the highest is $1.83 billion. Wynn Resorts reported sales of $1.71 billion in the same quarter last year, which would suggest a positive year over year growth rate of 1.2%. The company is expected to announce its next quarterly earnings report on Wednesday, November 6th.

On average, analysts expect that Wynn Resorts will report full-year sales of $6.87 billion for the current fiscal year, with estimates ranging from $6.68 billion to $7.08 billion. For the next fiscal year, analysts expect that the business will report sales of $7.61 billion, with estimates ranging from $7.09 billion to $8.06 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that cover Wynn Resorts.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Tuesday, August 6th. The casino operator reported $1.44 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.44. The company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.60 billion. Wynn Resorts had a return on equity of 34.98% and a net margin of 12.41%. Wynn Resorts’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.53 EPS.

WYNN has been the subject of a number of research analyst reports. Bank of America upgraded Wynn Resorts from a “neutral” rating to a “buy” rating and increased their price target for the company from $150.00 to $165.00 in a research note on Thursday, April 25th. Nomura lowered their price target on Wynn Resorts from $142.00 to $126.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. BidaskClub downgraded Wynn Resorts from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. ValuEngine upgraded Wynn Resorts from a “sell” rating to a “hold” rating in a research report on Tuesday, July 9th. Finally, Deutsche Bank set a $150.00 price target on Wynn Resorts and gave the stock a “buy” rating in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. Wynn Resorts currently has an average rating of “Hold” and an average target price of $138.69.

Institutional investors have recently made changes to their positions in the stock. First Republic Investment Management Inc. grew its stake in shares of Wynn Resorts by 1.8% in the first quarter. First Republic Investment Management Inc. now owns 5,420 shares of the casino operator’s stock valued at $647,000 after buying an additional 97 shares in the last quarter. Golden State Wealth Management LLC grew its stake in shares of Wynn Resorts by 27.1% in the second quarter. Golden State Wealth Management LLC now owns 479 shares of the casino operator’s stock valued at $59,000 after buying an additional 102 shares in the last quarter. Cookson Peirce & Co. Inc. grew its stake in Wynn Resorts by 2.6% during the 2nd quarter. Cookson Peirce & Co. Inc. now owns 4,290 shares of the casino operator’s stock worth $532,000 after purchasing an additional 110 shares in the last quarter. Beddow Capital Management Inc. grew its stake in Wynn Resorts by 0.3% during the 2nd quarter. Beddow Capital Management Inc. now owns 45,885 shares of the casino operator’s stock worth $5,689,000 after purchasing an additional 125 shares in the last quarter. Finally, Securian Asset Management Inc grew its stake in Wynn Resorts by 1.3% during the 1st quarter. Securian Asset Management Inc now owns 9,943 shares of the casino operator’s stock worth $1,186,000 after purchasing an additional 131 shares in the last quarter. Hedge funds and other institutional investors own 79.03% of the company’s stock.

Wynn Resorts stock traded up $6.66 during midday trading on Friday, reaching $112.21. The company’s stock had a trading volume of 86,816 shares, compared to its average volume of 2,008,681. The stock’s 50-day simple moving average is $126.77 and its 200-day simple moving average is $126.36. The company has a debt-to-equity ratio of 5.00, a current ratio of 1.00 and a quick ratio of 1.16. Wynn Resorts has a 52-week low of $90.06 and a 52-week high of $151.93. The stock has a market capitalization of $11.03 billion, a P/E ratio of 17.16, a PEG ratio of 1.77 and a beta of 1.95.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 27th. Investors of record on Friday, August 16th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $4.00 dividend on an annualized basis and a yield of 3.56%. Wynn Resorts’s payout ratio is 61.16%.

About Wynn Resorts

Wynn Resorts, Limited owns and operates destination casino resorts. As of February 20, 2019, the company's Wynn Palace segment had approximately 424,000 square feet of casino space, which offered 320 table games and 1,041 slot machines, private gaming salons, and sky casinos; a luxury hotel towers with 1,706 guest rooms, suites, and villas; 13 food and beverage outlets; 106,000 square feet of retail space; 37,000 square feet of meeting and convention space; recreation and leisure facilities comprising a gondola ride, health club, spa, salon, and pool; and public attractions, such as performance lake and floral art displays.

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Earnings History and Estimates for Wynn Resorts (NASDAQ:WYNN)

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