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.
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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.
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