Research Analysts Set Expectations for Wynn Resorts, Limited’s FY2020 Earnings (NASDAQ:WYNN)
Wynn Resorts, Limited (NASDAQ:WYNN) – Equities research analysts at Jefferies Financial Group lowered their FY2020 EPS estimates for shares of Wynn Resorts in a report released on Wednesday, November 6th. Jefferies Financial Group analyst D. Katz now expects that the casino operator will post earnings per share of $6.55 for the year, down from their prior forecast of $6.79. Jefferies Financial Group also issued estimates for Wynn Resorts’ FY2021 earnings at $7.03 EPS.
WYNN has been the topic of several other research reports. JPMorgan Chase & Co. lifted their price objective on shares of Wynn Resorts from $136.00 to $143.00 and gave the company an “overweight” rating in a research report on Thursday. Union Gaming Research cut shares of Wynn Resorts from a “buy” rating to a “hold” rating and reduced their price objective for the company from $150.00 to $135.00 in a research report on Thursday. BidaskClub upgraded shares of Wynn Resorts from a “sell” rating to a “hold” rating in a research report on Saturday, October 12th. Goldman Sachs Group upgraded shares of Wynn Resorts from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $140.00 to $155.00 in a research report on Tuesday, September 24th. Finally, Deutsche Bank set a $150.00 price objective on shares of Wynn Resorts and gave the company a “buy” rating in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $137.59.
Wynn Resorts (NASDAQ:WYNN) last issued its earnings results on Wednesday, November 6th. The casino operator reported $0.17 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.90 by ($0.73). Wynn Resorts had a return on equity of 34.98% and a net margin of 12.41%. The business had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.67 billion. During the same period last year, the firm posted $1.68 EPS. Wynn Resorts’s quarterly revenue was down 3.6% compared to the same quarter last year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Thursday, November 14th will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date is Wednesday, November 13th. Wynn Resorts’s dividend payout ratio (DPR) is presently 61.16%.
In related news, CEO Matt Maddox sold 25,000 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $122.47, for a total value of $3,061,750.00. Following the completion of the transaction, the chief executive officer now directly owns 407,107 shares of the company’s stock, valued at $49,858,394.29. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last three months, insiders sold 75,000 shares of company stock valued at $8,750,250. 0.58% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of the stock. State of Michigan Retirement System boosted its stake in shares of Wynn Resorts by 0.4% during the third quarter. State of Michigan Retirement System now owns 23,270 shares of the casino operator’s stock valued at $2,530,000 after purchasing an additional 100 shares during the period. Golden State Wealth Management LLC boosted its stake in shares of Wynn Resorts by 27.1% during the second quarter. Golden State Wealth Management LLC now owns 479 shares of the casino operator’s stock valued at $59,000 after purchasing an additional 102 shares during the period. World Asset Management Inc boosted its stake in shares of Wynn Resorts by 1.5% during the third quarter. World Asset Management Inc now owns 7,242 shares of the casino operator’s stock valued at $787,000 after purchasing an additional 105 shares during the period. Cookson Peirce & Co. Inc. boosted its stake in shares of Wynn Resorts by 2.6% during the second quarter. Cookson Peirce & Co. Inc. now owns 4,290 shares of the casino operator’s stock valued at $532,000 after purchasing an additional 110 shares during the period. Finally, Northwest Investment Counselors LLC boosted its stake in shares of Wynn Resorts by 1.5% during the third quarter. Northwest Investment Counselors LLC now owns 7,798 shares of the casino operator’s stock valued at $848,000 after purchasing an additional 116 shares during the period. 75.66% of the stock is owned by hedge funds and other institutional investors.
About Wynn Resorts
Wynn Resorts, Limited owns and operates destination casino resorts. As of February 20, 2019, the company's Wynn Palace segment had approximately 424,000 square feet of casino space, which offered 320 table games and 1,041 slot machines, private gaming salons, and sky casinos; a luxury hotel towers with 1,706 guest rooms, suites, and villas; 13 food and beverage outlets; 106,000 square feet of retail space; 37,000 square feet of meeting and convention space; recreation and leisure facilities comprising a gondola ride, health club, spa, salon, and pool; and public attractions, such as performance lake and floral art displays.
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