Wynn Resorts (NASDAQ:WYNN) Releases Earnings Results, Misses Expectations By $0.11 EPS

Wynn Resorts (NASDAQ:WYNN) announced its quarterly earnings data on Monday. The casino operator reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.11), RTT News reports. The firm had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.73 billion. Wynn Resorts had a negative return on equity of 62.44% and a net margin of 13.37%. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period last year, the company earned $0.99 EPS.

Wynn Resorts Price Performance

NASDAQ WYNN traded up $0.29 on Wednesday, hitting $87.01. The company had a trading volume of 1,491,591 shares, compared to its average volume of 2,152,234. The company has a market capitalization of $9.66 billion, a PE ratio of 10.69, a PEG ratio of 2.48 and a beta of 1.80. Wynn Resorts has a 12-month low of $71.63 and a 12-month high of $110.38. The company’s fifty day moving average price is $90.38 and its 200-day moving average price is $88.69.

Wynn Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend is Friday, November 15th. Wynn Resorts’s dividend payout ratio (DPR) is presently 12.33%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on WYNN shares. Macquarie restated an “outperform” rating and issued a $120.00 price objective on shares of Wynn Resorts in a report on Tuesday. JPMorgan Chase & Co. boosted their price target on Wynn Resorts from $101.00 to $113.00 and gave the stock an “overweight” rating in a research note on Tuesday. StockNews.com lowered Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Tuesday, September 17th. Morgan Stanley increased their price objective on Wynn Resorts from $112.00 to $115.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Finally, Wells Fargo & Company decreased their target price on Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating for the company in a report on Tuesday. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Wynn Resorts has an average rating of “Moderate Buy” and a consensus price target of $115.71.

Insider Activity

In related news, Director Patricia Mulroy sold 2,650 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $78.73, for a total transaction of $208,634.50. Following the completion of the transaction, the director now owns 5,689 shares in the company, valued at $447,894.97. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.52% 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.