Wynn Resorts, Limited Sees Unusually-High Trading Volume on Strong Earnings (WYNN)
Wynn Resorts, Limited (NASDAQ:WYNN) saw strong trading volume on Tuesday following a better than expected earnings announcement, Analyst Ratings.Net reports. 3,491,377 shares changed hands during trading, an increase of 143% from the previous session’s volume of 1,433,948 shares.The stock last traded at $219.34 and had previously closed at $210.97.
The company reported $2.11 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.95 by $0.16. The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter last year, the company posted $1.51 earnings per share. Wynn Resorts, Limited’s revenue was up 6.0% compared to the same quarter last year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, August 26th. Shareholders of record on Tuesday, August 12th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.30%.
A number of research firms have recently commented on WYNN. Analysts at Goldman Sachs reiterated a “positive” rating on shares of Wynn Resorts, Limited in a research note on Tuesday. Separately, analysts at FBR Capital Markets reiterated a “market perform” rating on shares of Wynn Resorts, Limited in a research note on Tuesday. Finally, analysts at Susquehanna cut their price target on shares of Wynn Resorts, Limited from $239.00 to $232.00 in a research note on Monday. They now have a “positive” rating on the stock. One analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $224.00.
The stock’s 50-day moving average is $203.6 and its 200-day moving average is $213.0. The company has a market cap of $21.919 billion and a P/E ratio of 28.54. Wynn Resorts, Limited also saw some unusual options trading activity on Monday. Stock investors purchased 17,912 call options on the stock. This is an increase of approximately 471% compared to the typical volume of 3,137 call options.
Wynn Resorts, Limited is a developer, owner and operator of destination casino resorts. The Company owns and operates two destination casino resorts.
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