Wynn Resorts Limited [NASDAQ: WYNN] traded at a high on 11/09/20, posting a 27.69 gain after which it closed the day’ session at $102.24. The company report on November 6, 2020 that Wynn Resorts, Limited Reports Third Quarter 2020 Results.
Wynn Resorts, Limited (NASDAQ: WYNN) (the “Company”) today reported financial results for the quarter ended September 30, 2020.
Operating revenues were $370.5 million for the third quarter of 2020, a decrease of 77.5%, or $1.28 billion, from $1.65 billion for the third quarter of 2019. Net loss attributable to Wynn Resorts, Limited was $758.1 million, or $7.10 per diluted share, for the third quarter of 2020, compared to net loss attributable to Wynn Resorts, Limited of $3.5 million, or $0.03 per diluted share, in the third quarter of 2019. Net loss attributable to Wynn Resorts, Limited for the third quarter of 2020 reflects a provision for income taxes of $407.4 million, primarily related to an increase in the valuation allowance against deferred tax assets no longer expected to be realized. Adjusted Property EBITDA (1) was $(65.9) million for the third quarter of 2020, compared to Adjusted Property EBITDA of $396.9 million in the third quarter of 2019.
The results of the trading session contributed to over 18768215 shares changing hands. Over the past one week, the price volatility of Wynn Resorts Limited stands at 6.05% while the volatility over the past one month is 4.32%.
The market cap for WYNN stock reached $11.03 billion, with 106.71 million shares outstanding and 97.62 million shares in the current float. Compared to the average trading volume of 3.79M shares, WYNN reached a trading volume of 18768215 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Wynn Resorts Limited [WYNN]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for WYNN shares is $90.81 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on WYNN stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Morgan Stanley have made an estimate for Wynn Resorts Limited shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on November 02, 2020. While these analysts kept the previous recommendation, Jefferies raised their target price from $111 to $81. The new note on the price target was released on October 16, 2020, representing the official price target for Wynn Resorts Limited stock. Previously, the target price had yet another drop from $99 to $75, while ROTH Capital kept a Neutral rating on WYNN stock.
The Average True Range (ATR) for Wynn Resorts Limited is set at 4.83, with the Price to Sales ratio for WYNN stock in the period of the last 12 months amounting to 3.60. The Price to Book ratio for the last quarter was 17.60, with the Price to Cash per share for the same quarter was set at 35.19.
How has WYNN stock performed recently?
Wynn Resorts Limited [WYNN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 34.79. With this latest performance, WYNN shares gained by 40.69% in over the last four-week period, additionally plugging by 29.98% over the last 6 months – not to mention a drop of -19.16% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for WYNN stock in for the last two-week period is set at 79.62, with the RSI for the last a single of trading hit 86.97, and the three-weeks RSI is set at 73.88 for Wynn Resorts Limited [WYNN]. The present Moving Average for the last 50 days of trading for this stock 76.82, while it was recorded at 82.63 for the last single week of trading, and 83.68 for the last 200 days.
Wynn Resorts Limited [WYNN]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Wynn Resorts Limited [WYNN] shares currently have an operating margin of +14.83 and a Gross Margin at +29.03. Wynn Resorts Limited’s Net Margin is presently recorded at +1.86.
Return on Total Capital for WYNN is now 8.39, given the latest momentum, and Return on Invested Capital for the company is 1.05. Return on Equity for this stock inclined to 6.51, with Return on Assets sitting at 0.90. When it comes to the capital structure of this company, Wynn Resorts Limited [WYNN] has a Total Debt to Total Equity ratio set at 608.12. Additionally, WYNN Total Debt to Total Capital is recorded at 85.88, with Total Debt to Total Assets ending up at 76.14. Long-Term Debt to Equity for the company is recorded at 588.45, with the Long-Term Debt to Total Capital now at 83.10.
Reflecting on the efficiency of the workforce at the company, Wynn Resorts Limited [WYNN] managed to generate an average of $4,072 per employee. Receivables Turnover for the company is 21.22 with a Total Asset Turnover recorded at a value of 0.49.Wynn Resorts Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.20 and a Current Ratio set at 2.30.
Earnings analysis for Wynn Resorts Limited [WYNN]
With the latest financial reports released by the company, Wynn Resorts Limited posted 0.86/share EPS, while the average EPS was predicted by analysts to be reported at 0.91/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -5.50%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for WYNN. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Wynn Resorts Limited go to -13.97%.
Insider trade positions for Wynn Resorts Limited [WYNN]
There are presently around $7,709 million, or 71.70% of WYNN stock, in the hands of institutional investors. The top three institutional holders of WYNN stocks are: VANGUARD GROUP INC with ownership of 10,526,953, which is approximately 2.304% of the company’s market cap and around 0.60% of the total institutional ownership; PRICE T ROWE ASSOCIATES INC /MD/, holding 8,488,105 shares of the stock with an approximate value of $867.82 million in WYNN stocks shares; and BLACKROCK INC., currently with $691.16 million in WYNN stock with ownership of nearly -2.213% of the company’s market capitalization.
Positions in Wynn Resorts Limited stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 238 institutional holders increased their position in Wynn Resorts Limited [NASDAQ:WYNN] by around 9,038,487 shares. Additionally, 227 investors decreased positions by around 16,339,608 shares, while 55 investors held positions by with 50,024,985 shares. The mentioned changes placed institutional holdings at 75,403,080 shares, according to the latest SEC report filing. WYNN stock had 77 new institutional investments in for a total of 2,607,991 shares, while 62 institutional investors sold positions of 2,540,042 shares during the same period.