Seaport Res Ptn Weighs in on Wynn Resorts, Limited’s Q2 2024 Earnings (NASDAQ:WYNN)

Wynn Resorts, Limited (NASDAQ:WYNN) – Investment analysts at Seaport Res Ptn upped their Q2 2024 earnings estimates for Wynn Resorts in a research report issued on Wednesday, June 26th. Seaport Res Ptn analyst V. Umansky now expects that the casino operator will post earnings per share of $1.05 for the quarter, up from their previous forecast of $1.00. Seaport Res Ptn currently has a “Strong-Buy” rating on the stock. The consensus estimate for Wynn Resorts’ current full-year earnings is $5.59 per share. Seaport Res Ptn also issued estimates for Wynn Resorts’ Q3 2024 earnings at $1.02 EPS and Q4 2024 earnings at $1.42 EPS.

Other equities analysts also recently issued reports about the stock. Mizuho assumed coverage on shares of Wynn Resorts in a research note on Thursday, April 4th. They issued a “buy” rating and a $131.00 price target on the stock. StockNews.com raised shares of Wynn Resorts from a “hold” rating to a “buy” rating in a research note on Friday, May 17th. Stifel Nicolaus lifted their target price on shares of Wynn Resorts from $135.00 to $138.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Citigroup boosted their price target on shares of Wynn Resorts from $132.00 to $138.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Finally, Wells Fargo & Company boosted their price target on shares of Wynn Resorts from $125.00 to $128.00 and gave the company an “overweight” rating in a research note on Wednesday, May 8th. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $121.31.

Wynn Resorts Trading Down 0.2 %

NASDAQ:WYNN opened at $88.13 on Thursday. The company’s 50-day moving average price is $94.05 and its 200-day moving average price is $96.81. The company has a market cap of $9.88 billion, a P/E ratio of 12.07 and a beta of 1.85. Wynn Resorts has a twelve month low of $81.65 and a twelve month high of $112.25.

Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Tuesday, May 7th. The casino operator reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.16. The business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.80 billion. Wynn Resorts had a net margin of 12.36% and a negative return on equity of 46.04%. The company’s revenue for the quarter was up 30.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.29 earnings per share.

Wynn Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Monday, May 20th were given a dividend of $0.25 per share. The ex-dividend date was Friday, May 17th. This represents a $1.00 annualized dividend and a dividend yield of 1.13%. Wynn Resorts’s dividend payout ratio is presently 13.70%.

Insider Activity at Wynn Resorts

In related news, Director Betsy S. Atkins sold 2,446 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $94.39, for a total value of $230,877.94. Following the completion of the sale, the director now owns 9,226 shares in the company, valued at approximately $870,842.14. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.52% of the stock is owned by insiders.

Hedge Funds Weigh In On Wynn Resorts

A number of large investors have recently bought and sold shares of WYNN. Norges Bank acquired a new position in shares of Wynn Resorts during the 4th quarter worth $157,305,000. Interval Partners LP grew its stake in Wynn Resorts by 999.0% in the 1st quarter. Interval Partners LP now owns 400,911 shares of the casino operator’s stock valued at $40,985,000 after acquiring an additional 364,432 shares during the last quarter. Janus Henderson Group PLC grew its stake in Wynn Resorts by 22.2% in the 1st quarter. Janus Henderson Group PLC now owns 1,125,718 shares of the casino operator’s stock valued at $115,082,000 after acquiring an additional 204,852 shares during the last quarter. Vanguard Group Inc. grew its stake in Wynn Resorts by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 11,028,618 shares of the casino operator’s stock valued at $1,127,456,000 after acquiring an additional 166,594 shares during the last quarter. Finally, Eminence Capital LP acquired a new stake in Wynn Resorts in the 4th quarter valued at about $15,089,000. Hedge funds and other institutional investors own 68.87% of the company’s stock.

About Wynn Resorts

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.