Wynn Resorts, Limited (NASDAQ:WYNN) – Equities researchers at Jefferies Financial Group reduced their Q2 2020 EPS estimates for Wynn Resorts in a research note issued on Thursday, July 9th. Jefferies Financial Group analyst D. Katz now anticipates that the casino operator will earn ($3.54) per share for the quarter, down from their previous forecast of ($3.23). Jefferies Financial Group currently has a “Buy” rating and a $92.00 target price on the stock. Jefferies Financial Group also issued estimates for Wynn Resorts’ Q3 2020 earnings at ($1.63) EPS, Q4 2020 earnings at ($0.43) EPS, Q1 2021 earnings at $1.04 EPS, Q2 2021 earnings at $0.84 EPS, Q3 2021 earnings at $0.68 EPS, Q4 2021 earnings at $0.79 EPS and FY2021 earnings at $3.35 EPS.
A number of other research analysts have also recently weighed in on WYNN. Roth Capital reduced their target price on Wynn Resorts from $140.00 to $104.00 and set a “buy” rating on the stock in a report on Wednesday, May 6th. Credit Suisse Group reduced their target price on Wynn Resorts from $125.00 to $72.00 and set a “neutral” rating on the stock in a report on Thursday, May 21st. JPMorgan Chase & Co. lifted their target price on Wynn Resorts from $93.00 to $98.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. BidaskClub lowered Wynn Resorts from a “hold” rating to a “sell” rating in a research report on Saturday, June 20th. Finally, Union Gaming Research raised Wynn Resorts from a “hold” rating to a “buy” rating and set a $110.00 price objective on the stock in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company. Wynn Resorts has an average rating of “Buy” and an average target price of $109.00.
Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data on Wednesday, May 6th. The casino operator reported ($3.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.05) by ($2.49). Wynn Resorts had a negative return on equity of 17.92% and a negative net margin of 6.49%. The business had revenue of $953.70 million for the quarter, compared to analyst estimates of $887.81 million. During the same quarter last year, the business earned $1.61 EPS. Wynn Resorts’s revenue for the quarter was down 42.2% compared to the same quarter last year.
In other news, CFO Craig Scott Billings sold 6,000 shares of Wynn Resorts stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $84.77, for a total transaction of $508,620.00. Following the sale, the chief financial officer now directly owns 84,287 shares of the company’s stock, valued at $7,145,008.99. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.75% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Procyon Private Wealth Partners LLC acquired a new position in Wynn Resorts in the fourth quarter worth about $42,000. Joseph P. Lucia & Associates LLC grew its stake in Wynn Resorts by 297.0% in the second quarter. Joseph P. Lucia & Associates LLC now owns 397 shares of the casino operator’s stock worth $30,000 after purchasing an additional 297 shares in the last quarter. Quadrant Capital Group LLC grew its stake in Wynn Resorts by 153.5% in the fourth quarter. Quadrant Capital Group LLC now owns 431 shares of the casino operator’s stock worth $53,000 after purchasing an additional 261 shares in the last quarter. Parallel Advisors LLC grew its stake in Wynn Resorts by 84.0% in the first quarter. Parallel Advisors LLC now owns 447 shares of the casino operator’s stock worth $26,000 after purchasing an additional 204 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC grew its stake in Wynn Resorts by 1,384.4% in the first quarter. Wealthcare Advisory Partners LLC now owns 475 shares of the casino operator’s stock worth $29,000 after purchasing an additional 443 shares in the last quarter. 74.80% of the stock is currently owned by institutional investors and hedge funds.
Wynn Resorts Company Profile
Wynn Resorts, Limited owns and operates destination casino resorts. As of February 20, 2019, the company's Wynn Palace segment had approximately 424,000 square feet of casino space, which offered 320 table games and 1,041 slot machines, private gaming salons, and sky casinos; a luxury hotel towers with 1,706 guest rooms, suites, and villas; 13 food and beverage outlets; 106,000 square feet of retail space; 37,000 square feet of meeting and convention space; recreation and leisure facilities comprising a gondola ride, health club, spa, salon, and pool; and public attractions, such as performance lake and floral art displays.
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