Wall Street analysts expect Wynn Resorts, Limited (NASDAQ:WYNN) to announce $1.68 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Wynn Resorts’ earnings, with estimates ranging from $1.62 billion to $1.78 billion. Wynn Resorts posted sales of $1.61 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 4.3%. The firm is expected to issue its next quarterly earnings results on Thursday, October 25th.
According to Zacks, analysts expect that Wynn Resorts will report full year sales of $6.75 billion for the current financial year, with estimates ranging from $6.61 billion to $7.10 billion. For the next financial year, analysts expect that the business will post sales of $7.41 billion per share, with estimates ranging from $7.14 billion to $7.65 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Wynn Resorts.
Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Wednesday, August 1st. The casino operator reported $1.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.96 by ($0.43). Wynn Resorts had a net margin of 7.90% and a return on equity of 69.17%. The company had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter last year, the company earned $1.18 earnings per share. Wynn Resorts’s revenue for the quarter was up 9.0% on a year-over-year basis.
A number of research firms recently commented on WYNN. Nomura upped their price objective on Wynn Resorts from $210.00 to $215.00 and gave the company a “buy” rating in a report on Wednesday, April 25th. Credit Suisse Group began coverage on Wynn Resorts in a report on Tuesday. They issued a “neutral” rating and a $155.00 price objective on the stock. ValuEngine cut Wynn Resorts from a “hold” rating to a “sell” rating in a report on Wednesday. Barclays decreased their price objective on Wynn Resorts from $224.00 to $213.00 and set an “overweight” rating on the stock in a report on Thursday, August 2nd. Finally, Jefferies Financial Group decreased their price objective on Wynn Resorts from $230.00 to $229.00 and set a “buy” rating on the stock in a report on Friday, June 29th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $189.63.
WYNN traded up $2.73 during trading hours on Monday, reaching $142.33. The company’s stock had a trading volume of 1,797,053 shares, compared to its average volume of 3,258,735. Wynn Resorts has a fifty-two week low of $132.26 and a fifty-two week high of $203.63. The stock has a market capitalization of $16.14 billion, a PE ratio of 26.07 and a beta of 1.39. The company has a debt-to-equity ratio of 4.47, a quick ratio of 1.04 and a current ratio of 1.08.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 28th. Shareholders of record on Thursday, August 16th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date is Wednesday, August 15th. Wynn Resorts’s dividend payout ratio (DPR) is 54.95%.
A number of large investors have recently added to or reduced their stakes in WYNN. BlackRock Inc. raised its stake in shares of Wynn Resorts by 12.6% in the second quarter. BlackRock Inc. now owns 5,723,598 shares of the casino operator’s stock valued at $957,788,000 after acquiring an additional 641,845 shares in the last quarter. Winslow Capital Management LLC acquired a new stake in shares of Wynn Resorts in the first quarter valued at $184,340,000. Massachusetts Financial Services Co. MA raised its stake in shares of Wynn Resorts by 15.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,010,495 shares of the casino operator’s stock valued at $169,096,000 after acquiring an additional 136,113 shares in the last quarter. Putnam Investments LLC raised its stake in shares of Wynn Resorts by 34.9% in the second quarter. Putnam Investments LLC now owns 761,801 shares of the casino operator’s stock valued at $127,480,000 after acquiring an additional 197,228 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Wynn Resorts by 8.6% in the second quarter. Bank of New York Mellon Corp now owns 735,421 shares of the casino operator’s stock valued at $123,065,000 after acquiring an additional 58,243 shares in the last quarter. Institutional investors own 76.95% of the company’s stock.
About Wynn Resorts
Wynn Resorts, Limited develops, owns, and operates destination casino resorts. As of February 15, 2018, the company's Wynn Macau segment had approximately 273,000 square feet of casino space, which offered 316 table games and 988 slot machines, private gaming salons, sky casinos, and a poker pit; 2 luxury hotel towers with a total of 1,008 guest rooms and suites; 8 food and beverage outlets; 59,000 square feet of retail space; 31,000 square feet of meeting and convention space; recreation and leisure facilities comprising 2 health clubs, spas, a salon, and a pool; and a rotunda show, a Chinese zodiac-inspired ceiling.
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