Brokerages Expect Wynn Resorts, Limited (WYNN) Will Announce Quarterly Sales of $1.54 Billion

Equities research analysts expect Wynn Resorts, Limited (NASDAQ:WYNN) to post sales of $1.54 billion for the current quarter, according to Zacks. Four analysts have issued estimates for Wynn Resorts’ earnings, with estimates ranging from $1.50 billion to $1.58 billion. Wynn Resorts reported sales of $1.30 billion in the same quarter last year, which indicates a positive year over year growth rate of 18.5%. The business is expected to announce its next earnings results on Thursday, January 25th.

On average, analysts expect that Wynn Resorts will report full year sales of $1.54 billion for the current year, with estimates ranging from $6.12 billion to $6.20 billion. For the next year, analysts forecast that the business will post sales of $6.46 billion per share, with estimates ranging from $6.17 billion to $6.72 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Wynn Resorts.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Thursday, October 26th. The casino operator reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.24. Wynn Resorts had a return on equity of 132.96% and a net margin of 6.24%. The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same period last year, the company earned $0.74 EPS. Wynn Resorts’s revenue for the quarter was up 45.3% compared to the same quarter last year.

A number of equities research analysts have recently weighed in on WYNN shares. Stifel Nicolaus lifted their price objective on Wynn Resorts from $134.00 to $153.00 and gave the stock a “hold” rating in a research report on Friday, October 27th. Deutsche Bank reiterated a “buy” rating and issued a $167.00 price objective on shares of Wynn Resorts in a research report on Tuesday, November 21st. Morgan Stanley reiterated a “hold” rating and issued a $151.00 price objective (down from $158.00) on shares of Wynn Resorts in a research report on Thursday, October 12th. Barclays lifted their price objective on Wynn Resorts to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, December 14th. Finally, Citigroup lifted their price objective on Wynn Resorts to $161.00 and gave the stock a “buy” rating in a research report on Monday, October 16th. Eleven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $151.67.

Wynn Resorts (WYNN) traded up $1.09 on Tuesday, reaching $164.49. The company had a trading volume of 2,190,000 shares, compared to its average volume of 1,420,000. The company has a current ratio of 1.72, a quick ratio of 1.68 and a debt-to-equity ratio of 24.54. Wynn Resorts has a fifty-two week low of $89.60 and a fifty-two week high of $171.06. The company has a market cap of $16,910.00, a price-to-earnings ratio of 45.57 and a beta of 1.73.

In related news, President Matt Maddox sold 59,260 shares of Wynn Resorts stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $155.12, for a total transaction of $9,192,411.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Alvin V. Shoemaker sold 15,000 shares of Wynn Resorts stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $151.74, for a total value of $2,276,100.00. Following the sale, the director now owns 19,162 shares in the company, valued at $2,907,641.88. The disclosure for this sale can be found here. Insiders have sold 95,055 shares of company stock worth $14,629,975 over the last 90 days. 13.20% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WYNN. GSA Capital Partners LLP purchased a new position in Wynn Resorts during the third quarter valued at $544,000. Coastline Trust Co purchased a new position in Wynn Resorts during the third quarter valued at $375,000. Moors & Cabot Inc. purchased a new position in Wynn Resorts during the third quarter valued at $222,000. IFM Investors Pty Ltd purchased a new position in Wynn Resorts during the third quarter valued at $323,000. Finally, Neuberger Berman Group LLC purchased a new position in Wynn Resorts during the third quarter valued at $234,000. Institutional investors own 71.95% of the company’s stock.

COPYRIGHT VIOLATION WARNING: This piece was published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this piece on another website, it was illegally copied and reposted in violation of United States and international copyright & trademark laws. The original version of this piece can be accessed at https://ledgergazette.com/2018/01/13/brokerages-expect-wynn-resorts-limited-wynn-will-announce-quarterly-sales-of-1-54-billion.html.

About Wynn Resorts

Wynn Resorts, Limited (Wynn Resorts) is a developer, owner and operator of destination casino resorts that integrate accommodations and a range of amenities, including dining outlets, retail offerings, entertainment theaters and meeting complexes. The Company’s segments include Macau Operations and Las Vegas Operations.

Get a free copy of the Zacks research report on Wynn Resorts (WYNN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Wynn Resorts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wynn Resorts and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply