Wynn Resorts, Limited (NASDAQ:WYNN) Expected to Announce Earnings of $0.93 Per Share

Brokerages expect Wynn Resorts, Limited (NASDAQ:WYNN) to announce earnings per share (EPS) of $0.93 for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Wynn Resorts’ earnings, with estimates ranging from $0.78 to $1.39. Wynn Resorts posted earnings of $1.06 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 12.3%. The firm is expected to report its next quarterly earnings report on Wednesday, January 29th.

On average, analysts expect that Wynn Resorts will report full year earnings of $4.18 per share for the current financial year, with EPS estimates ranging from $4.03 to $4.61. For the next fiscal year, analysts anticipate that the company will report earnings of $5.36 per share, with EPS estimates ranging from $4.56 to $6.55. Zacks’ earnings per share averages are an average based on a survey of research firms that follow Wynn Resorts.

Wynn Resorts (NASDAQ:WYNN) last posted 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). The firm had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.67 billion. Wynn Resorts had a return on equity of 25.33% and a net margin of 10.12%. The company’s revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.68 earnings per share.

A number of analysts have commented on WYNN shares. JPMorgan Chase & Co. increased their price objective on shares of Wynn Resorts from $136.00 to $143.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Barclays cut their price objective on shares of Wynn Resorts from $157.00 to $150.00 and set an “overweight” rating for the company in a report on Thursday, September 12th. Standpoint Research started coverage on shares of Wynn Resorts in a report on Wednesday, September 4th. They issued a “buy” rating for the company. Citigroup set a $141.00 price objective on shares of Wynn Resorts and gave the company a “buy” rating in a report on Thursday, September 12th. Finally, Union Gaming Research downgraded shares of Wynn Resorts from a “buy” rating to a “hold” rating and cut their price target for the stock from $150.00 to $135.00 in a report on Thursday, November 7th. Nine research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $137.41.

In related news, CEO Matt Maddox sold 25,000 shares of Wynn Resorts stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $120.18, for a total value of $3,004,500.00. Following the completion of the sale, the chief executive officer now owns 368,651 shares in the company, valued at approximately $44,304,477.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Craig Scott Billings sold 3,750 shares of Wynn Resorts stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $119.85, for a total transaction of $449,437.50. Following the completion of the sale, the chief financial officer now owns 66,451 shares of the company’s stock, valued at approximately $7,964,152.35. The disclosure for this sale can be found here. Insiders sold a total of 103,750 shares of company stock valued at $12,204,188 in the last quarter. 0.58% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the business. Point72 Hong Kong Ltd purchased a new position in Wynn Resorts in the 2nd quarter valued at approximately $31,000. Sumitomo Mitsui Financial Group Inc. purchased a new position in Wynn Resorts in the 2nd quarter valued at approximately $35,000. Lenox Wealth Advisors LLC purchased a new position in Wynn Resorts in the 3rd quarter valued at approximately $35,000. Howe & Rusling Inc. purchased a new position in Wynn Resorts in the 3rd quarter valued at approximately $48,000. Finally, CSat Investment Advisory L.P. boosted its position in Wynn Resorts by 128.8% in the 2nd quarter. CSat Investment Advisory L.P. now owns 476 shares of the casino operator’s stock valued at $60,000 after buying an additional 268 shares during the period. 73.17% of the stock is owned by institutional investors.

WYNN stock traded down $0.93 during mid-day trading on Friday, reaching $119.46. The company’s stock had a trading volume of 55,924 shares, compared to its average volume of 1,309,540. The stock has a market cap of $13.06 billion, a PE ratio of 18.26, a P/E/G ratio of 2.91 and a beta of 2.08. The company has a current ratio of 1.09, a quick ratio of 1.05 and a debt-to-equity ratio of 5.75. Wynn Resorts has a fifty-two week low of $90.06 and a fifty-two week high of $151.50. The company’s 50 day moving average is $120.64 and its two-hundred day moving average is $117.99.

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Thursday, November 14th were issued a $1.00 dividend. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $4.00 annualized dividend and a yield of 3.35%. Wynn Resorts’s dividend payout ratio (DPR) is presently 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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