Wynn Resorts (NASDAQ:WYNN) Announces Quarterly Earnings Results

Wynn Resorts (NASDAQ:WYNN) released its quarterly earnings results on Thursday. The casino operator reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $1.15, Zacks reports. Wynn Resorts had a net margin of 13.37% and a negative return on equity of 61.16%.

Wynn Resorts Stock Up 2.9 %

Shares of NASDAQ WYNN traded up $2.24 during midday trading on Thursday, reaching $80.61. The company had a trading volume of 6,983,048 shares, compared to its average volume of 2,553,210. The stock has a market cap of $8.85 billion, a PE ratio of 9.94, a price-to-earnings-growth ratio of 2.32 and a beta of 1.76. Wynn Resorts has a one year low of $71.63 and a one year high of $110.38. The firm’s fifty day moving average price is $86.05 and its 200-day moving average price is $86.83.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on WYNN shares. Jefferies Financial Group reduced their target price on Wynn Resorts from $109.00 to $105.00 and set a “hold” rating for the company in a research report on Friday, January 3rd. Deutsche Bank Aktiengesellschaft cut their price objective on Wynn Resorts from $122.00 to $118.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. JPMorgan Chase & Co. raised their target price on shares of Wynn Resorts from $101.00 to $113.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Macquarie reissued an “outperform” rating and issued a $120.00 price target on shares of Wynn Resorts in a research note on Tuesday, November 5th. Finally, Wells Fargo & Company lowered their price objective on shares of Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $118.00.

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.