Wynn Resorts, Limited (NASDAQ:WYNN) Expected to Post Quarterly Sales of $759.80 Million


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Wall Street brokerages expect Wynn Resorts, Limited (NASDAQ:WYNN) to post sales of $759.80 million for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Wynn Resorts’ earnings, with the highest sales estimate coming in at $784.21 million and the lowest estimate coming in at $738.17 million. Wynn Resorts reported sales of $953.72 million during the same quarter last year, which indicates a negative year-over-year growth rate of 20.3%. The business is scheduled to issue its next quarterly earnings report on Wednesday, May 5th.

According to Zacks, analysts expect that Wynn Resorts will report full-year sales of $4.20 billion for the current year, with estimates ranging from $3.97 billion to $4.62 billion. For the next year, analysts anticipate that the firm will post sales of $6.14 billion, with estimates ranging from $5.54 billion to $6.55 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Wynn Resorts.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Thursday, February 4th. The casino operator reported ($2.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.22) by ($0.23). The business had revenue of $686.00 million for the quarter, compared to the consensus estimate of $751.05 million. Wynn Resorts had a negative net margin of 25.71% and a negative return on equity of 96.61%. During the same period in the previous year, the company earned $0.86 earnings per share.

A number of research firms have weighed in on WYNN. Deutsche Bank Aktiengesellschaft increased their target price on Wynn Resorts from $120.00 to $125.00 and gave the company a “buy” rating in a report on Monday, February 8th. JPMorgan Chase & Co. increased their target price on Wynn Resorts from $119.00 to $143.00 and gave the company an “overweight” rating in a report on Monday, March 15th. Morgan Stanley increased their target price on Wynn Resorts from $120.00 to $129.00 and gave the company an “overweight” rating in a report on Wednesday, January 20th. Smith Barney Citigroup downgraded Wynn Resorts from a “buy” rating to a “sell” rating in a report on Thursday, January 7th. They noted that the move was a valuation call. Finally, Credit Suisse Group upped their price target on Wynn Resorts from $80.00 to $99.00 and gave the stock a “neutral” rating in a research report on Monday, February 8th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $108.76.

WYNN stock traded down $4.51 during trading on Tuesday, reaching $124.35. The stock had a trading volume of 4,776,906 shares, compared to its average volume of 2,654,420. Wynn Resorts has a 52 week low of $67.54 and a 52 week high of $143.88. The stock’s 50 day moving average is $129.26 and its two-hundred day moving average is $112.17. The company has a current ratio of 2.27, a quick ratio of 2.22 and a debt-to-equity ratio of 45.50. The firm has a market cap of $14.38 billion, a PE ratio of -11.90 and a beta of 2.32.

In other Wynn Resorts news, Director Patricia Mulroy sold 400 shares of the firm’s stock in a transaction that occurred on Tuesday, February 16th. The stock was sold at an average price of $119.79, for a total transaction of $47,916.00. Following the completion of the transaction, the director now owns 6,897 shares in the company, valued at approximately $826,191.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Craig Scott Billings sold 3,015 shares of the firm’s stock in a transaction that occurred on Thursday, March 25th. The shares were sold at an average price of $127.50, for a total value of $384,412.50. Following the transaction, the chief financial officer now owns 101,493 shares of the company’s stock, valued at approximately $12,940,357.50. The disclosure for this sale can be found here. Company insiders own 0.75% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Creative Financial Designs Inc. ADV bought a new stake in shares of Wynn Resorts in the 4th quarter valued at approximately $25,000. Eudaimonia Partners LLC bought a new stake in shares of Wynn Resorts in the 4th quarter valued at approximately $26,000. International Assets Investment Management LLC lifted its stake in shares of Wynn Resorts by 235.3% in the 1st quarter. International Assets Investment Management LLC now owns 285 shares of the casino operator’s stock valued at $35,000 after purchasing an additional 200 shares during the last quarter. Reilly Financial Advisors LLC lifted its stake in shares of Wynn Resorts by 200.0% in the 1st quarter. Reilly Financial Advisors LLC now owns 300 shares of the casino operator’s stock valued at $38,000 after purchasing an additional 200 shares during the last quarter. Finally, Manchester Financial Inc. lifted its stake in shares of Wynn Resorts by 45.1% in the 4th quarter. Manchester Financial Inc. now owns 344 shares of the casino operator’s stock valued at $39,000 after purchasing an additional 107 shares during the last quarter. Institutional investors and hedge funds own 69.49% of the company’s stock.

Wynn Resorts Company Profile

Wynn Resorts Ltd. is a holding company, which engages in the design, development, and operation of destination casino resorts. It operates through the following segments: Wynn Palace, Wynn Macau, Las Vegas Operations, and Encore Boston Harbor. The company was founded by Stephen Alan Wynn, Elaine P. Wynn, and Kazuo Okada in 2002 and is headquartered in Las Vegas, NV.

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

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