Equities Analysts Set Expectations for Wynn Resorts, Limited’s FY2024 Earnings (NASDAQ:WYNN)

Wynn Resorts, Limited (NASDAQ:WYNN) – Investment analysts at Seaport Res Ptn upped their FY2024 earnings per share estimates for shares of Wynn Resorts in a research report issued to clients and investors on Wednesday, June 26th. Seaport Res Ptn analyst V. Umansky now expects that the casino operator will post earnings of $4.74 per share for the year, up from their prior forecast of $4.69. 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’ FY2025 earnings at $5.48 EPS.

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

A number of other analysts have also recently weighed in on the company. Stifel Nicolaus boosted their price target on Wynn Resorts from $135.00 to $138.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Mizuho began coverage on Wynn Resorts in a research report on Thursday, April 4th. They set a “buy” rating and a $131.00 price objective for the company. Argus raised Wynn Resorts from a “hold” rating to a “buy” rating and set a $110.00 price objective for the company in a research report on Thursday, May 23rd. Barclays boosted their price objective on Wynn Resorts from $124.00 to $128.00 and gave the stock an “overweight” rating in a research report on Thursday, May 9th. Finally, Wells Fargo & Company boosted their price objective on Wynn Resorts from $125.00 to $128.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 8th. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $121.31.

Wynn Resorts Price Performance

Shares of NASDAQ WYNN opened at $89.50 on Friday. Wynn Resorts has a one year low of $81.65 and a one year high of $112.25. The business’s 50-day moving average price is $93.80 and its two-hundred day moving average price is $96.78. The company has a market capitalization of $10.03 billion, a P/E ratio of 12.26 and a beta of 1.85.

Wynn Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Monday, May 20th were paid a $0.25 dividend. The ex-dividend date was Friday, May 17th. This represents a $1.00 annualized dividend and a dividend yield of 1.12%. Wynn Resorts’s dividend payout ratio is currently 13.70%.

Insider Activity

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Wynn Resorts by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 11,028,618 shares of the casino operator’s stock worth $1,127,456,000 after buying an additional 166,594 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in Wynn Resorts by 0.5% during the 4th quarter. Fisher Asset Management LLC now owns 3,931,323 shares of the casino operator’s stock worth $358,183,000 after buying an additional 20,091 shares in the last quarter. Norges Bank acquired a new position in Wynn Resorts during the 4th quarter worth $157,305,000. Janus Henderson Group PLC lifted its holdings in Wynn Resorts by 22.2% during the 1st quarter. Janus Henderson Group PLC now owns 1,125,718 shares of the casino operator’s stock worth $115,082,000 after buying an additional 204,852 shares in the last quarter. Finally, Bamco Inc. NY lifted its holdings in Wynn Resorts by 5.1% during the 1st quarter. Bamco Inc. NY now owns 788,335 shares of the casino operator’s stock worth $80,591,000 after buying an additional 38,160 shares in the last quarter. Institutional investors and hedge funds 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.