Analysts Expect Wynn Resorts, Limited (NASDAQ:WYNN) Will Post Earnings of -$0.80 Per Share

Equities research analysts predict that Wynn Resorts, Limited (NASDAQ:WYNN – Get Rating) will announce earnings of ($0.80) per share for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Wynn Resorts’ earnings, with the lowest EPS estimate coming in at ($1.14) and the highest estimate coming in at ($0.29). Wynn Resorts reported earnings per share of ($1.12) during the same quarter last year, which suggests a positive year-over-year growth rate of 28.6%. The company is scheduled to report its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Wynn Resorts will report full-year earnings of ($2.96) per share for the current financial year, with EPS estimates ranging from ($3.65) to ($1.49). For the next year, analysts expect that the business will post earnings of $1.81 per share, with EPS estimates ranging from $0.23 to $3.34. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow Wynn Resorts.

Wynn Resorts (NASDAQ:WYNN – Get Rating) last posted its quarterly earnings data on Tuesday, May 10th. The casino operator reported ($1.21) earnings per share for the quarter, missing the consensus estimate of ($1.15) by ($0.06). The firm had revenue of $953.40 million for the quarter, compared to the consensus estimate of $986.35 million. During the same period in the previous year, the business posted ($2.41) EPS. The firm’s revenue for the quarter was up 31.4% compared to the same quarter last year.

Several research firms have recently weighed in on WYNN. Morgan Stanley decreased their price objective on shares of Wynn Resorts from $123.00 to $90.00 and set an “overweight” rating for the company in a research report on Monday, April 25th. CBRE Group raised their price target on shares of Wynn Resorts from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, February 16th. Wells Fargo & Company reduced their price target on shares of Wynn Resorts from $97.00 to $79.00 in a report on Wednesday, May 11th. StockNews.com initiated coverage on shares of Wynn Resorts in a report on Thursday, March 31st. They issued a “sell” rating for the company. Finally, Bank of America raised their price target on shares of Wynn Resorts from $90.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, February 16th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Wynn Resorts currently has a consensus rating of “Hold” and a consensus price target of $100.96.

WYNN opened at $58.19 on Wednesday. Wynn Resorts has a twelve month low of $56.36 and a twelve month high of $136.83. The company has a fifty day moving average of $72.18 and a 200-day moving average of $81.45. The stock has a market cap of $6.75 billion, a PE ratio of -10.16 and a beta of 2.22.

A number of hedge funds have recently made changes to their positions in the business. Norges Bank purchased a new position in shares of Wynn Resorts in the fourth quarter worth about $64,347,000. Voloridge Investment Management LLC increased its stake in shares of Wynn Resorts by 2,448.4% in the third quarter. Voloridge Investment Management LLC now owns 611,259 shares of the casino operator’s stock worth $51,804,000 after purchasing an additional 587,273 shares in the last quarter. Suvretta Capital Management LLC purchased a new position in shares of Wynn Resorts in the first quarter worth about $29,190,000. Bank of Montreal Can increased its stake in shares of Wynn Resorts by 344.7% in the fourth quarter. Bank of Montreal Can now owns 415,496 shares of the casino operator’s stock worth $36,045,000 after purchasing an additional 322,073 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of Wynn Resorts by 65.7% in the third quarter. Franklin Resources Inc. now owns 681,375 shares of the casino operator’s stock worth $57,746,000 after purchasing an additional 270,203 shares in the last quarter. 62.72% of the stock is currently owned by institutional investors and hedge funds.

About Wynn Resorts (Get Rating)

Wynn Resorts, Limited designs, develops, and operates integrated resorts. Its Wynn Palace segment operates 424,000 square feet of casino space with 323 table games, 1,035 slot machines, private gaming salons, and sky casinos; a luxury hotel tower with 1,706 guest rooms, suites, and villas, including a health club, spa, salon, and pool; 14 food and beverage outlets; 107,000 square feet of retail space; 37,000 square feet of meeting and convention space; and performance lake and floral art displays.

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