Wynn Resorts (NASDAQ:WYNN) Posts Quarterly Earnings Results, Beats Expectations By $1.15 EPS

Wynn Resorts (NASDAQ:WYNN) posted its quarterly earnings data on Thursday. The casino operator reported $2.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 Price Performance

Wynn Resorts stock traded up $2.24 during trading hours on Thursday, reaching $80.61. The stock had a trading volume of 7,133,944 shares, compared to its average volume of 2,604,400. The company has a market cap of $8.85 billion, a price-to-earnings ratio of 9.94, a PEG ratio of 2.32 and a beta of 1.76. The business’s 50 day moving average price is $86.05 and its 200-day moving average price is $86.83. Wynn Resorts has a 52 week low of $71.63 and a 52 week high of $110.38.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on WYNN shares. Wells Fargo & Company cut their price target on Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Jefferies Financial Group cut their price objective on shares of Wynn Resorts from $109.00 to $105.00 and set a “hold” rating for the company in a report on Friday, January 3rd. Barclays dropped their target price on shares of Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Morgan Stanley lifted 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. Finally, Macquarie restated an “outperform” rating and set a $120.00 price objective on shares of Wynn Resorts in a research report on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $118.00.

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.