Wynn Resorts, Limited (NASDAQ:WYNN) Expected to Post Earnings of -$1.12 Per Share

Equities research analysts expect Wynn Resorts, Limited (NASDAQ:WYNNGet Rating) to announce earnings of ($1.12) per share for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Wynn Resorts’ earnings. The lowest EPS estimate is ($1.31) and the highest is ($0.51). Wynn Resorts reported earnings per share of ($2.41) during the same quarter last year, which indicates a positive year-over-year growth rate of 53.5%. The firm is scheduled to issue its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Wynn Resorts will report full year earnings of ($0.89) per share for the current year, with EPS estimates ranging from ($2.74) to $0.84. For the next financial year, analysts anticipate that the business will report earnings of $3.84 per share, with EPS estimates ranging from $1.99 to $5.13. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that cover Wynn Resorts.

Wynn Resorts (NASDAQ:WYNNGet Rating) last posted its earnings results on Tuesday, February 15th. The casino operator reported ($1.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.24) by ($0.13). The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the previous year, the company posted ($2.45) EPS.

WYNN has been the topic of several recent analyst reports. Morgan Stanley raised their target price on shares of Wynn Resorts from $117.00 to $123.00 and gave the company an “overweight” rating in a report on Wednesday, February 16th. CBRE Group raised their price target on shares of Wynn Resorts from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, February 16th. Wells Fargo & Company reduced their price target on shares of Wynn Resorts from $99.00 to $97.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 13th. Bank of America lifted their target price on shares of Wynn Resorts from $90.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 16th. Finally, Citigroup upgraded shares of Wynn Resorts from a “neutral” rating to a “buy” rating and cut their target price for the stock from $98.00 to $96.50 in a research report on Friday, April 1st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $111.50.

In other news, Director Patricia Mulroy sold 400 shares of the company’s stock in a transaction on Friday, February 11th. The shares were sold at an average price of $94.25, for a total value of $37,700.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Matt Maddox sold 20,000 shares of the company’s stock in a transaction on Tuesday, January 18th. The stock was sold at an average price of $91.83, for a total transaction of $1,836,600.00. The disclosure for this sale can be found here. Corporate insiders own 0.62% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WYNN. Amundi Pioneer Asset Management Inc. lifted its holdings in Wynn Resorts by 569.1% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 35,590 shares of the casino operator’s stock valued at $4,247,000 after purchasing an additional 30,271 shares during the last quarter. Morgan Stanley increased its position in shares of Wynn Resorts by 20.0% during the second quarter. Morgan Stanley now owns 1,336,851 shares of the casino operator’s stock valued at $163,498,000 after buying an additional 222,922 shares during the period. Avantax Advisory Services Inc. increased its position in shares of Wynn Resorts by 31.9% during the third quarter. Avantax Advisory Services Inc. now owns 4,401 shares of the casino operator’s stock valued at $372,000 after buying an additional 1,065 shares during the period. DekaBank Deutsche Girozentrale increased its position in shares of Wynn Resorts by 62.4% during the third quarter. DekaBank Deutsche Girozentrale now owns 15,037 shares of the casino operator’s stock valued at $1,259,000 after buying an additional 5,775 shares during the period. Finally, Spire Wealth Management increased its position in shares of Wynn Resorts by 75.9% during the third quarter. Spire Wealth Management now owns 985 shares of the casino operator’s stock valued at $83,000 after buying an additional 425 shares during the period. 61.26% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:WYNN traded down $1.45 during mid-day trading on Wednesday, reaching $72.52. 47,958 shares of the company’s stock were exchanged, compared to its average volume of 3,294,817. Wynn Resorts has a one year low of $66.33 and a one year high of $136.83. The business’s fifty day simple moving average is $81.46 and its two-hundred day simple moving average is $85.68.

About Wynn Resorts (Get Rating)

Wynn Resorts, Limited designs, develops, and operates integrated resorts. Its Wynn Palace segment operates 424,000 square feet of casino space with 323 table games, 1,035 slot machines, private gaming salons, and sky casinos; a luxury hotel tower with 1,706 guest rooms, suites, and villas, including a health club, spa, salon, and pool; 14 food and beverage outlets; 107,000 square feet of retail space; 37,000 square feet of meeting and convention space; and performance lake and floral art displays.

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