Wynn Resorts, Limited (NASDAQ:WYNN) Releases Earnings Results, Beats Estimates By $0.02 EPS
Wynn Resorts, Limited (NASDAQ:WYNN) posted its quarterly earnings data on Tuesday. The casino operator reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.02, Bloomberg Earnings reports. Wynn Resorts, Limited had a return on equity of 264.58% and a net margin of 5.41%. The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.47 billion. During the same period in the prior year, the business earned $1.07 EPS. The company’s revenue for the quarter was up 44.5% compared to the same quarter last year.
Wynn Resorts, Limited (NASDAQ WYNN) traded down 7.174% on Wednesday, reaching $129.009. The company had a trading volume of 1,827,216 shares. Wynn Resorts, Limited has a 52 week low of $82.51 and a 52 week high of $139.67. The company has a market capitalization of $13.13 billion, a P/E ratio of 49.034 and a beta of 1.73. The stock’s 50-day moving average is $134.02 and its 200-day moving average is $115.62.
In related news, President Matt Maddox sold 60,000 shares of Wynn Resorts, Limited stock in a transaction on Thursday, April 27th. The shares were sold at an average price of $124.25, for a total transaction of $7,455,000.00. Following the sale, the president now directly owns 354,895 shares in the company, valued at approximately $44,095,703.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John J. Hagenbuch sold 1,150 shares of Wynn Resorts, Limited stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $128.40, for a total transaction of $147,660.00. Following the sale, the director now owns 11,662 shares in the company, valued at $1,497,400.80. The disclosure for this sale can be found here. Insiders have sold a total of 130,309 shares of company stock worth $16,761,891 over the last quarter. 13.20% of the stock is owned by company insiders.
A number of equities analysts have recently issued reports on WYNN shares. Union Gaming Research upgraded Wynn Resorts, Limited from a “hold” rating to a “buy” rating in a report on Wednesday, April 26th. Zacks Investment Research upgraded Wynn Resorts, Limited from a “hold” rating to a “strong-buy” rating and set a $144.00 target price for the company in a report on Friday, April 28th. Aegis restated a “buy” rating and set a $132.00 target price (up from $121.00) on shares of Wynn Resorts, Limited in a report on Saturday, April 29th. Sanford C. Bernstein restated an “outperform” rating on shares of Wynn Resorts, Limited in a report on Wednesday, May 24th. Finally, Vetr upgraded Wynn Resorts, Limited from a “hold” rating to a “buy” rating and set a $119.59 target price for the company in a report on Monday, April 17th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $125.30.
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Wynn Resorts, Limited Company Profile
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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