Wynn Resorts (NASDAQ:WYNN) Announces Earnings Results

Wynn Resorts (NASDAQ:WYNN) released its earnings results on Thursday. The casino operator reported $2.42 earnings per share for the quarter, beating 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 Trading Up 2.9 %

Shares of Wynn Resorts stock traded up $2.24 on Thursday, hitting $80.61. 7,133,944 shares of the company traded hands, compared to its average volume of 2,604,400. Wynn Resorts has a 12-month low of $71.63 and a 12-month high of $110.38. The company has a market cap of $8.85 billion, a P/E ratio of 9.94, a P/E/G ratio of 2.32 and a beta of 1.76. The firm’s 50-day simple moving average is $86.05 and its 200 day simple moving average is $86.83.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on WYNN. Jefferies Financial Group decreased their price objective on shares of Wynn Resorts from $109.00 to $105.00 and set a “hold” rating for the company in a research report on Friday, January 3rd. JPMorgan Chase & Co. upped their price target on shares of Wynn Resorts from $101.00 to $113.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Morgan Stanley upped their target price on Wynn Resorts from $112.00 to $115.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Wynn Resorts from $122.00 to $118.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Finally, Wells Fargo & Company reduced their target price on Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Wynn Resorts has a consensus rating of “Moderate Buy” and an average price target 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.