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

Wynn Resorts (NASDAQ:WYNN) posted its quarterly earnings results on Monday. The casino operator reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11), RTT News reports. The business had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.73 billion. Wynn Resorts had a negative return on equity of 62.44% and a net margin of 13.37%. The business’s revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.99 earnings per share.

Wynn Resorts Stock Up 0.3 %

NASDAQ:WYNN traded up $0.29 on Wednesday, reaching $87.01. 1,491,591 shares of the company’s stock were exchanged, compared to its average volume of 2,152,234. The firm has a market capitalization of $9.66 billion, a price-to-earnings ratio of 10.69, a price-to-earnings-growth ratio of 2.48 and a beta of 1.80. Wynn Resorts has a 52-week low of $71.63 and a 52-week high of $110.38. The business has a fifty day moving average of $90.38 and a 200-day moving average of $88.69.

Wynn Resorts Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on WYNN. Macquarie restated an “outperform” rating and set a $120.00 target price on shares of Wynn Resorts in a report on Tuesday. UBS Group raised Wynn Resorts to a “hold” rating in a research note on Friday, August 23rd. JPMorgan Chase & Co. raised their target price on Wynn Resorts from $101.00 to $113.00 and gave the stock an “overweight” rating in a research note on Tuesday. Susquehanna boosted their price target on shares of Wynn Resorts from $92.00 to $122.00 and gave the company a “positive” rating in a research report on Friday, October 11th. Finally, StockNews.com lowered shares of Wynn Resorts from a “buy” rating to a “hold” rating in a report on Tuesday, September 17th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $115.71.

Insider Activity

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $78.73, for a total transaction of $208,634.50. Following the sale, the director now directly 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 filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.52% of the company’s stock.

About Wynn Resorts

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.