Wynn Resorts, Limited (NASDAQ:WYNN - Get Free Report)'s stock price fell 5.9% on Tuesday following a dissappointing earnings announcement. The company traded as low as $88.96 and last traded at $90.02. 721,479 shares were traded during mid-day trading, a decline of 66% from the average session volume of 2,108,536 shares. The stock had previously closed at $95.65.
The casino operator reported $0.90 earnings per share for the quarter, missing analysts' consensus estimates of $1.01 by ($0.11). Wynn Resorts had a negative return on equity of 53.84% and a net margin of 12.22%. The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same period last year, the company earned $0.99 earnings per share. The business's revenue for the quarter was up 1.3% compared to the same quarter last year.
Analyst Ratings Changes
A number of analysts have commented on the company. JPMorgan Chase & Co. boosted their target price on Wynn Resorts from $101.00 to $113.00 and gave the stock an "overweight" rating in a research report on Tuesday. Susquehanna increased their price objective on shares of Wynn Resorts from $92.00 to $122.00 and gave the company a "positive" rating in a research note on Friday, October 11th. StockNews.com cut shares of Wynn Resorts from a "buy" rating to a "hold" rating in a research report on Tuesday, September 17th. Stifel Nicolaus lowered their price target on shares of Wynn Resorts from $121.00 to $103.00 and set a "buy" rating on the stock in a research report on Friday, September 13th. Finally, Jefferies Financial Group dropped their price objective on shares of Wynn Resorts from $111.00 to $96.00 and set a "hold" rating for the company in a research note on Thursday, July 11th. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Wynn Resorts presently has a consensus rating of "Moderate Buy" and an average target price of $115.71.
Read Our Latest Research Report on Wynn Resorts
Insider Buying and Selling at Wynn Resorts
In other news, Director Patricia Mulroy sold 2,650 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $78.73, for a total transaction of $208,634.50. Following the transaction, the director now directly owns 5,689 shares in the company, valued at $447,894.97. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.52% of the stock is owned by company insiders.
Institutional Investors Weigh In On Wynn Resorts
A number of institutional investors have recently added to or reduced their stakes in WYNN. Vanguard Group Inc. raised its holdings in Wynn Resorts by 1.5% in the first quarter. Vanguard Group Inc. now owns 11,028,618 shares of the casino operator's stock valued at $1,127,456,000 after buying an additional 166,594 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Wynn Resorts by 29.1% during the 2nd quarter. Renaissance Technologies LLC now owns 1,345,100 shares of the casino operator's stock valued at $120,386,000 after acquiring an additional 303,033 shares in the last quarter. Janus Henderson Group PLC boosted its position in Wynn Resorts by 22.2% during the 1st quarter. Janus Henderson Group PLC now owns 1,125,718 shares of the casino operator's stock worth $115,082,000 after purchasing an additional 204,852 shares during the period. Bamco Inc. NY increased its holdings in Wynn Resorts by 5.1% in the 1st quarter. Bamco Inc. NY now owns 788,335 shares of the casino operator's stock valued at $80,591,000 after purchasing an additional 38,160 shares in the last quarter. Finally, Regal Partners Ltd lifted its stake in shares of Wynn Resorts by 5.6% during the second quarter. Regal Partners Ltd now owns 724,700 shares of the casino operator's stock worth $64,861,000 after purchasing an additional 38,344 shares in the last quarter. Hedge funds and other institutional investors own 68.87% of the company's stock.
Wynn Resorts Price Performance
The company has a market cap of $9.63 billion, a PE ratio of 10.79, a P/E/G ratio of 2.48 and a beta of 1.80. The company has a 50-day moving average price of $90.19 and a two-hundred day moving average price of $88.75.
About Wynn Resorts
(
Get Free Report)
Wynn Resorts, Limited designs, develops, and operates integrated resorts. The company operates through four segments: Wynn Palace, Wynn Macau, Las Vegas Operations, and Encore Boston Harbor. The Wynn Palace segment operates private gaming salons and sky casinos; a luxury hotel tower with suites, and villas, including a health club, spa, salon, and pool; food and beverage outlets; retail space; meeting and convention space; and performance lake and floral art displays.
Read More
Before you consider Wynn Resorts, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Wynn Resorts wasn't on the list.
While Wynn Resorts currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
