Analysts predict that Wynn Resorts (NASDAQ:WYNN) will announce $1.70 billion in sales for the current quarter, according to Zacks. Four analysts have provided estimates for Wynn Resorts’ earnings. The lowest sales estimate is $1.65 billion and the highest is $1.77 billion. Wynn Resorts reported sales of $1.48 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 14.9%. The firm is scheduled to report its next quarterly earnings results on Tuesday, April 24th.
According to Zacks, analysts expect that Wynn Resorts will report full year sales of $6.95 billion for the current year, with estimates ranging from $6.69 billion to $7.15 billion. For the next year, analysts forecast that the company will post sales of $7.65 billion per share, with estimates ranging from $7.36 billion to $8.07 billion. Zacks’ sales calculations are an average based on a survey of research analysts that follow Wynn Resorts.
Wynn Resorts (NASDAQ:WYNN) last issued its earnings results on Monday, January 22nd. The casino operator reported $1.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.07. Wynn Resorts had a return on equity of 100.14% and a net margin of 11.85%. The business had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same quarter in the previous year, the firm earned $0.50 EPS. Wynn Resorts’s revenue was up 29.9% on a year-over-year basis.
Several research firms have recently commented on WYNN. Morgan Stanley reaffirmed a “hold” rating and set a $194.00 price target (up previously from $193.00) on shares of Wynn Resorts in a research report on Thursday, March 15th. Jefferies Group reaffirmed a “positive” rating and set a $220.00 price target on shares of Wynn Resorts in a research report on Tuesday, January 23rd. UBS lowered shares of Wynn Resorts from a “buy” rating to a “neutral” rating and set a $174.00 price target for the company. in a research report on Monday, January 29th. JPMorgan Chase raised shares of Wynn Resorts from a “neutral” rating to an “overweight” rating in a research report on Wednesday, February 7th. Finally, Zacks Investment Research lowered shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. Nine analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Wynn Resorts currently has a consensus rating of “Buy” and an average price target of $190.03.
Shares of NASDAQ WYNN traded down $1.26 during midday trading on Friday, hitting $191.65. 1,842,747 shares of the company’s stock traded hands, compared to its average volume of 3,999,928. Wynn Resorts has a 1 year low of $114.40 and a 1 year high of $203.63. The firm has a market capitalization of $19,666.90, a P/E ratio of 35.10 and a beta of 1.40. The company has a quick ratio of 1.74, a current ratio of 1.77 and a debt-to-equity ratio of 8.87.
In related news, major shareholder Stephen A. Wynn sold 4,104,999 shares of the stock in a transaction that occurred on Wednesday, March 21st. The shares were sold at an average price of $180.00, for a total value of $738,899,820.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 13.20% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in WYNN. Mckinley Capital Management LLC Delaware purchased a new stake in Wynn Resorts in the 4th quarter worth approximately $171,000. Calton & Associates Inc. purchased a new stake in Wynn Resorts in the 4th quarter worth approximately $178,000. IBM Retirement Fund purchased a new stake in Wynn Resorts in the 4th quarter worth approximately $201,000. FDx Advisors Inc. purchased a new stake in Wynn Resorts in the 4th quarter worth approximately $203,000. Finally, Segment Wealth Management LLC purchased a new stake in Wynn Resorts in the 4th quarter worth approximately $217,000. 70.21% of the stock is owned by institutional investors.
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Wynn Resorts Company Profile
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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