Wynn Resorts (NASDAQ:WYNN) Releases Quarterly Earnings Results, Beats Expectations By $0.16 EPS

Wynn Resorts (NASDAQ:WYNN) announced its earnings results on Tuesday. The casino operator reported $1.59 EPS for the quarter, beating the consensus estimate of $1.43 by $0.16, RTT News reports. The business had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.80 billion. Wynn Resorts had a negative return on equity of 31.17% and a net margin of 11.18%. The company’s revenue was up 30.9% on a year-over-year basis. During the same period last year, the business posted $0.29 EPS.

Wynn Resorts Price Performance

NASDAQ:WYNN opened at $97.19 on Friday. Wynn Resorts has a 12-month low of $81.65 and a 12-month high of $113.50. The firm has a market capitalization of $10.89 billion, a P/E ratio of 16.25 and a beta of 1.91. The business has a 50 day simple moving average of $100.08 and a 200 day simple moving average of $95.40.

Wynn Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Monday, May 20th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, May 17th. This represents a $1.00 dividend on an annualized basis and a yield of 1.03%. Wynn Resorts’s dividend payout ratio is currently 16.72%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. lifted their price objective on Wynn Resorts from $118.00 to $123.00 and gave the stock an “overweight” rating in a report on Tuesday, February 27th. Barclays lifted their price objective on Wynn Resorts from $124.00 to $128.00 and gave the stock an “overweight” rating in a report on Thursday. Morgan Stanley lifted their price objective on Wynn Resorts from $107.00 to $114.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Citigroup lifted their price objective on Wynn Resorts from $132.00 to $138.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Susquehanna lifted their price objective on Wynn Resorts from $105.00 to $115.00 and gave the stock a “positive” rating in a report on Thursday, February 8th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Wynn Resorts currently has a consensus rating of “Moderate Buy” and a consensus price target of $122.93.

About Wynn Resorts

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.