Wynn Resorts (NASDAQ:WYNN) Announces Earnings Results

Wynn Resorts (NASDAQ:WYNN) issued its earnings results on Thursday. The casino operator reported $2.42 earnings per share for the quarter, beating the consensus estimate of $1.27 by $1.15, Zacks reports. Wynn Resorts had a net margin of 13.37% and a negative return on equity of 61.16%.

Wynn Resorts Stock Performance

Shares of WYNN stock traded up $8.08 during mid-day trading on Friday, hitting $88.55. 4,161,464 shares of the stock traded hands, compared to its average volume of 2,670,163. The company’s 50-day simple moving average is $85.77 and its 200-day simple moving average is $86.78. Wynn Resorts has a twelve month low of $71.63 and a twelve month high of $110.38. The firm has a market cap of $9.72 billion, a price-to-earnings ratio of 10.88, a price-to-earnings-growth ratio of 2.32 and a beta of 1.76.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Jefferies Financial Group lowered their price objective on Wynn Resorts from $109.00 to $105.00 and set a “hold” rating on the stock in a report on Friday, January 3rd. Deutsche Bank Aktiengesellschaft decreased their price target on Wynn Resorts from $122.00 to $118.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Wells Fargo & Company cut their price objective on Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Barclays boosted their target price on shares of Wynn Resorts from $115.00 to $116.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Morgan Stanley increased their price target on shares of Wynn Resorts from $112.00 to $115.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Three research 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.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $117.83.

Wynn Resorts Company Profile

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.