$1.70 Billion in Sales Expected for Wynn Resorts (WYNN) This Quarter

Wall Street brokerages expect Wynn Resorts (NASDAQ:WYNN) to announce $1.70 billion in sales for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Wynn Resorts’ earnings, with estimates ranging from $1.55 billion to $1.78 billion. Wynn Resorts posted sales of $1.53 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 11.1%. The business is scheduled to report its next earnings results on Tuesday, July 24th.

On average, analysts expect that Wynn Resorts will report full year sales of $6.91 billion for the current fiscal year, with estimates ranging from $6.64 billion to $7.10 billion. For the next financial year, analysts anticipate that the company will post sales of $7.61 billion per share, with estimates ranging from $7.32 billion to $7.88 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Wynn Resorts.

Wynn Resorts (NASDAQ:WYNN) last issued its earnings results on Tuesday, April 24th. The casino operator reported $2.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.98 by $0.32. The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.75 billion. Wynn Resorts had a return on equity of 101.01% and a net margin of 6.75%. The business’s revenue was up 20.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.24 earnings per share.

Several brokerages have issued reports on WYNN. Morgan Stanley restated a “hold” rating and issued a $194.00 target price (up from $193.00) on shares of Wynn Resorts in a research note on Thursday, March 15th. Jefferies Group restated a “positive” rating and issued a $220.00 target price on shares of Wynn Resorts in a research note on Tuesday, January 23rd. Nomura boosted their target price on Wynn Resorts from $210.00 to $215.00 and gave the company a “buy” rating in a research note on Wednesday, April 25th. UBS lowered Wynn Resorts from a “buy” rating to a “neutral” rating and set a $174.00 target price on the stock. in a research note on Monday, January 29th. Finally, JPMorgan Chase & Co. upgraded Wynn Resorts from a “neutral” rating to an “overweight” rating in a research note on Wednesday, February 7th. Eight equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Wynn Resorts has a consensus rating of “Buy” and an average price target of $199.94.

In related news, Director Robert Jos Miller sold 10,000 shares of the business’s stock in a transaction dated Wednesday, May 2nd. The stock was sold at an average price of $191.73, for a total transaction of $1,917,300.00. Following the completion of the transaction, the director now directly owns 19,162 shares in the company, valued at $3,673,930.26. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Stephen A. Wynn sold 4,104,999 shares of the business’s stock in a transaction dated Wednesday, March 21st. The stock was sold at an average price of $180.00, for a total value of $738,899,820.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,133,449 shares of company stock worth $744,342,731. 0.95% of the stock is currently owned by corporate insiders.

Institutional investors have recently bought and sold shares of the stock. Mackenzie Financial Corp grew its position in Wynn Resorts by 1,522.7% during the fourth quarter. Mackenzie Financial Corp now owns 371,560 shares of the casino operator’s stock worth $62,641,000 after buying an additional 348,662 shares in the last quarter. Virtue Capital Management LLC purchased a new position in Wynn Resorts during the fourth quarter worth about $549,000. Oakbrook Investments LLC grew its position in Wynn Resorts by 78.3% during the fourth quarter. Oakbrook Investments LLC now owns 6,845 shares of the casino operator’s stock worth $1,154,000 after buying an additional 3,005 shares in the last quarter. American Assets Capital Advisers LLC grew its position in Wynn Resorts by 62.5% during the fourth quarter. American Assets Capital Advisers LLC now owns 130,000 shares of the casino operator’s stock worth $21,916,000 after buying an additional 50,000 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in Wynn Resorts by 9.3% during the fourth quarter. The Manufacturers Life Insurance Company now owns 93,205 shares of the casino operator’s stock worth $15,714,000 after buying an additional 7,965 shares in the last quarter. Institutional investors and hedge funds own 75.75% of the company’s stock.

Shares of WYNN traded up $0.73 during mid-day trading on Friday, hitting $194.61. The stock had a trading volume of 1,245,162 shares, compared to its average volume of 3,575,478. The firm has a market cap of $21.09 billion, a PE ratio of 35.64 and a beta of 1.39. The company has a debt-to-equity ratio of 11.97, a current ratio of 1.17 and a quick ratio of 1.13. Wynn Resorts has a 52 week low of $123.32 and a 52 week high of $203.63.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 29th. Investors of record on Thursday, May 17th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.54%. This is a positive change from Wynn Resorts’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Wednesday, May 16th. Wynn Resorts’s payout ratio is presently 54.95%.

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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Earnings History and Estimates for Wynn Resorts (NASDAQ:WYNN)

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