Wynn Resorts, Limited (NASDAQ:WYNN - Get Free Report) saw strong trading volume on Friday after the company announced better than expected quarterly earnings. 3,423,229 shares were traded during trading, an increase of 30% from the previous session's volume of 2,636,404 shares.The stock last traded at $87.30 and had previously closed at $80.47.
The casino operator reported $2.42 earnings per share for the quarter, beating the consensus estimate of $1.27 by $1.15. Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. The firm had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.78 billion.
Wynn Resorts Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Monday, February 24th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.10%. The ex-dividend date is Monday, February 24th. Wynn Resorts's payout ratio is currently 12.33%.
Wall Street Analysts Forecast Growth
WYNN has been the topic of a number of recent analyst reports. Stifel Nicolaus boosted their price target on shares of Wynn Resorts from $123.00 to $128.00 and gave the stock a "buy" rating in a research report on Friday. Deutsche Bank Aktiengesellschaft dropped their target price on Wynn Resorts from $122.00 to $118.00 and set a "buy" rating on the stock in a report on Tuesday, November 5th. Barclays increased their price target on Wynn Resorts from $115.00 to $116.00 and gave the company an "overweight" rating in a research note on Friday. Mizuho boosted their price objective on Wynn Resorts from $118.00 to $132.00 and gave the stock an "outperform" rating in a research note on Friday. Finally, StockNews.com raised shares of Wynn Resorts from a "hold" rating to a "buy" rating in a research note on Tuesday. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $120.58.
View Our Latest Stock Analysis on WYNN
Institutional Investors Weigh In On Wynn Resorts
Hedge funds have recently made changes to their positions in the company. Fisher Asset Management LLC raised its stake in Wynn Resorts by 70.7% during the 3rd quarter. Fisher Asset Management LLC now owns 3,971,846 shares of the casino operator's stock valued at $380,821,000 after purchasing an additional 1,644,965 shares during the period. Barrow Hanley Mewhinney & Strauss LLC raised its position in Wynn Resorts by 18.4% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,125,668 shares of the casino operator's stock valued at $269,308,000 after buying an additional 485,204 shares during the period. Geode Capital Management LLC lifted its stake in Wynn Resorts by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 2,433,052 shares of the casino operator's stock worth $209,120,000 after acquiring an additional 26,792 shares in the last quarter. Jefferies Financial Group Inc. boosted its position in Wynn Resorts by 9.0% during the 4th quarter. Jefferies Financial Group Inc. now owns 1,683,600 shares of the casino operator's stock worth $145,059,000 after acquiring an additional 139,270 shares during the period. Finally, Renaissance Technologies LLC boosted its position in Wynn Resorts by 16.4% during the 4th quarter. Renaissance Technologies LLC now owns 1,616,756 shares of the casino operator's stock worth $139,300,000 after acquiring an additional 228,000 shares during the period. Hedge funds and other institutional investors own 88.64% of the company's stock.
Wynn Resorts Stock Performance
The company has a 50 day simple moving average of $85.45 and a two-hundred day simple moving average of $87.06. The company has a market cap of $10.02 billion, a PE ratio of 11.25, a PEG ratio of 2.32 and a beta of 1.76.
About Wynn Resorts
(
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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.
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