Wynn Resorts (NASDAQ:WYNN) Posts Quarterly Earnings Results, Beats Estimates By $1.15 EPS

Wynn Resorts (NASDAQ:WYNN) posted its quarterly earnings data on Thursday. The casino operator reported $2.42 earnings per share for the quarter, beating the consensus estimate of $1.27 by $1.15, Zacks reports. Wynn Resorts had a net margin of 13.37% and a negative return on equity of 61.16%. The company had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.78 billion.

Wynn Resorts Price Performance

WYNN traded up $8.35 during midday trading on Friday, hitting $88.82. 9,028,540 shares of the company’s stock traded hands, compared to its average volume of 2,352,991. The company has a market cap of $9.75 billion, a PE ratio of 10.95, a price-to-earnings-growth ratio of 2.32 and a beta of 1.76. The stock’s fifty day simple moving average is $85.66 and its 200-day simple moving average is $86.83. Wynn Resorts has a one year low of $71.63 and a one year high of $110.38.

Wynn Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Monday, February 24th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.13%. The ex-dividend date is Monday, February 24th. Wynn Resorts’s payout ratio is presently 12.33%.

Wall Street Analysts Forecast Growth

WYNN has been the subject of several recent analyst reports. Barclays raised their target price on shares of Wynn Resorts from $115.00 to $116.00 and gave the stock an “overweight” rating in a report on Friday. Stifel Nicolaus raised their target price on shares of Wynn Resorts from $123.00 to $128.00 and gave the stock a “buy” rating in a report on Friday. Jefferies Financial Group decreased their target price on shares of Wynn Resorts from $109.00 to $105.00 and set a “hold” rating for the company in a report on Friday, January 3rd. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Wynn Resorts from $122.00 to $118.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Finally, Wells Fargo & Company decreased their price target on shares of Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Three research 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. According to MarketBeat, Wynn Resorts has a consensus rating of “Moderate Buy” and an average target price of $119.50.

About Wynn Resorts

Wynn Resorts, Limited designs, develops, and operates integrated resorts. The company operates through four segments: Wynn Palace, Wynn Macau, Las Vegas Operations, and Encore Boston Harbor. The Wynn Palace segment operates private gaming salons and sky casinos; a luxury hotel tower with suites, and villas, including a health club, spa, salon, and pool; food and beverage outlets; retail space; meeting and convention space; and performance lake and floral art displays.