FY2020 EPS Estimates for Wynn Resorts, Limited Lowered by Jefferies Financial Group (NASDAQ:WYNN)

Wynn Resorts, Limited (NASDAQ:WYNN) – Equities research analysts at Jefferies Financial Group lowered their FY2020 earnings estimates for Wynn Resorts in a research report issued to clients and investors on Wednesday, November 6th. Jefferies Financial Group analyst D. Katz now expects that the casino operator will earn $6.55 per share for the year, down from their prior forecast of $6.79. Jefferies Financial Group also issued estimates for Wynn Resorts’ FY2021 earnings at $7.03 EPS.

Several other brokerages have also issued reports on WYNN. Citigroup set a $141.00 target price on shares of Wynn Resorts and gave the company a “buy” rating in a research report on Thursday, September 12th. Goldman Sachs Group upgraded shares of Wynn Resorts from a “neutral” rating to a “buy” rating and lifted their target price for the company from $140.00 to $155.00 in a research report on Tuesday, September 24th. Union Gaming Research lowered shares of Wynn Resorts from a “buy” rating to a “hold” rating and dropped their target price for the company from $150.00 to $135.00 in a research report on Thursday. JPMorgan Chase & Co. lifted their target price on shares of Wynn Resorts from $136.00 to $143.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, ValuEngine lowered shares of Wynn Resorts from a “hold” rating to a “sell” rating in a research report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the stock. Wynn Resorts presently has a consensus rating of “Buy” and a consensus target price of $137.59.

Shares of Wynn Resorts stock opened at $126.47 on Friday. Wynn Resorts has a 1 year low of $90.06 and a 1 year high of $151.50. The firm has a market cap of $13.62 billion, a PE ratio of 19.34, a PEG ratio of 2.43 and a beta of 2.07. The company has a debt-to-equity ratio of 5.00, a current ratio of 1.00 and a quick ratio of 0.95. The company has a 50 day simple moving average of $114.45 and a two-hundred day simple moving average of $120.37.

Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Wednesday, November 6th. The casino operator reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.73). Wynn Resorts had a net margin of 12.41% and a return on equity of 34.98%. The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the previous year, the firm earned $1.68 earnings per share. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year.

A number of large investors have recently bought and sold shares of the stock. State of Michigan Retirement System lifted its stake in shares of Wynn Resorts by 0.4% during the third quarter. State of Michigan Retirement System now owns 23,270 shares of the casino operator’s stock worth $2,530,000 after purchasing an additional 100 shares in the last quarter. Golden State Wealth Management LLC grew its stake in Wynn Resorts by 27.1% in the 2nd 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 during the last quarter. World Asset Management Inc grew its stake in Wynn Resorts by 1.5% in the 3rd quarter. World Asset Management Inc now owns 7,242 shares of the casino operator’s stock valued at $787,000 after buying an additional 105 shares during the last quarter. Cookson Peirce & Co. Inc. grew its stake in Wynn Resorts by 2.6% in the 2nd quarter. Cookson Peirce & Co. Inc. now owns 4,290 shares of the casino operator’s stock valued at $532,000 after buying an additional 110 shares during the last quarter. Finally, Northwest Investment Counselors LLC grew its stake in Wynn Resorts by 1.5% in the 3rd quarter. Northwest Investment Counselors LLC now owns 7,798 shares of the casino operator’s stock valued at $848,000 after buying an additional 116 shares during the last quarter. Institutional investors own 75.66% of the company’s stock.

In other news, CEO Matt Maddox sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $110.24, for a total value of $2,756,000.00. Following the completion of the sale, the chief executive officer now directly owns 432,731 shares in the company, valued at approximately $47,704,265.44. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last 90 days, insiders sold 75,000 shares of company stock valued at $8,750,250. Company insiders own 0.58% of the company’s stock.

The firm also recently disclosed a dividend, which will be paid on Friday, November 22nd. Stockholders of record on Thursday, November 14th will be issued a $1.00 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. 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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