Wynn Resorts (NASDAQ:WYNN – Get Rating) released its quarterly earnings data on Tuesday. The casino operator reported ($1.21) earnings per share for the quarter, missing the consensus estimate of ($1.15) by ($0.06), MarketWatch Earnings reports. The company posted revenue of $953.40 million in the quarter, compared to analyst estimates of $986.35 million. During the same period of the previous year, the company posted an EPS of ($2.41). The company’s revenue for the quarter increased 31.4% year over year.
Shares of Wynn Resorts opened at $61.65 on Wednesday. The company has a market capitalization of $7.15 billion, a price-earnings ratio of -9.24 and a beta of 2.22. The stock has a fifty-day simple moving average of $74.68 and a two-hundred-day simple moving average of $83.54. Wynn Resorts has a 12 month minimum of $59.72 and a 12 month maximum of $136.83.
In other Wynn Resorts news, Director Patricia Mulroy sold 400 shares of Wynn Resorts in a trade on Friday, February 11. The stock was 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. 0.62% of the shares are currently held by insiders of the company.
Several institutional investors and hedge funds have recently changed their holdings in WYNN. Cubist Systematic Strategies LLC increased its holdings of Wynn Resorts stock by 393.4% in the fourth quarter. Cubist Systematic Strategies LLC now owns 28,582 shares of the casino operator worth $2,431,000 after acquiring an additional 22,789 shares during the period. Allstate Corp increased its position in Wynn Resorts by 647.6% during the fourth quarter. Allstate Corp now owns 21,979 shares of the casino operator worth $1,869,000 after buying an additional 19,039 shares last quarter. The Tennessee State Treasury Department increased its position in Wynn Resorts by 74.8% during the fourth quarter. The Tennessee State Treasury Department now owns 31,080 shares of the casino operator worth $2,643,000 after purchasing an additional 13,297 shares last quarter. NewEdge Advisors LLC bought a new position in Wynn Resorts during the fourth quarter worth $610,000. Finally, Stifel Financial Corp increased its position in Wynn Resorts by 33.8% during the fourth quarter. Stifel Financial Corp now owns 24,443 shares of the casino operator valued at $2,079,000 after buying an additional 6,169 shares last quarter. 62.72% of the shares are held by institutional investors.
A number of research companies have recently commented on WYNN. Jefferies Financial Group raised its price target on Wynn Resorts from $90.00 to $105.00 in a Friday, January 21 research note. StockNews.com began covering Wynn Resorts in a research note on Thursday, March 31. They issued a “sell” rating for the company. Deutsche Bank Aktiengesellschaft lowered its target price on Wynn Resorts from $123.00 to $92.00 in a research note on Wednesday. Bank of America raised its price target on Wynn Resorts from $90.00 to $100.00 and gave the company a “neutral” rating in a Wednesday, Feb. 16 research note. Finally, Union Gaming Research raised its target price on Wynn Resorts from $125.00 to $130.00 and gave the company a “buy” rating in a Wednesday, February 16 research note. One analyst rated the stock with a sell rating, seven assigned a hold rating and six assigned the company a buy rating. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $105.19.
About Wynn Hotels (Get a 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 lounges and aerial casinos; a luxury hotel tower with 1,706 rooms, suites and villas, including a health club, spa, salon and swimming pool; 14 food and beverage outlets; 107,000 square feet of retail space; 37,000 square feet of meeting and convention space; and floral art and performance lake exhibits.
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