Seaport Res Ptn Lowers Earnings Estimates for Wynn Resorts

Wynn Resorts, Limited (NASDAQ:WYNN) – Equities researchers at Seaport Res Ptn decreased their FY2024 EPS estimates for Wynn Resorts in a research report issued to clients and investors on Tuesday, November 5th. Seaport Res Ptn analyst V. Umansky now anticipates that the casino operator will post earnings per share of $3.73 for the year, down from their prior estimate of $5.00. The consensus estimate for Wynn Resorts’ current full-year earnings is $5.42 per share. Seaport Res Ptn also issued estimates for Wynn Resorts’ Q4 2024 earnings at $1.52 EPS and FY2025 earnings at $3.63 EPS.

Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Monday, November 4th. The casino operator reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). The company had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Wynn Resorts had a net margin of 13.37% and a negative return on equity of 62.44%. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.99 earnings per share.

Several other research analysts also recently commented on WYNN. Barclays decreased their target price on shares of Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating on the stock in a research note on Tuesday. Susquehanna lifted their target price on shares of Wynn Resorts from $92.00 to $122.00 and gave the stock a “positive” rating in a research note on Friday, October 11th. JPMorgan Chase & Co. lifted their target price on shares of Wynn Resorts from $101.00 to $113.00 and gave the stock an “overweight” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft cut their price target on shares of Wynn Resorts from $122.00 to $118.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, StockNews.com cut shares of Wynn Resorts from a “buy” rating to a “hold” rating in a report on Tuesday, September 17th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Wynn Resorts has a consensus rating of “Moderate Buy” and an average price target of $115.71.

Wynn Resorts Stock Performance

WYNN stock opened at $87.17 on Thursday. The company has a market capitalization of $9.67 billion, a PE ratio of 10.75, a price-to-earnings-growth ratio of 2.48 and a beta of 1.80. Wynn Resorts has a one year low of $71.63 and a one year high of $110.38. The company’s 50 day moving average price is $90.81 and its two-hundred day moving average price is $88.65.

Institutional Investors Weigh In On Wynn Resorts

A number of large investors have recently bought and sold shares of the company. Norden Group LLC acquired a new position in Wynn Resorts in the first quarter valued at approximately $231,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Wynn Resorts by 25.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,810 shares of the casino operator’s stock worth $1,567,000 after buying an additional 2,982 shares during the period. Daiwa Securities Group Inc. raised its stake in shares of Wynn Resorts by 10.8% during the 1st quarter. Daiwa Securities Group Inc. now owns 9,883 shares of the casino operator’s stock worth $1,010,000 after buying an additional 965 shares during the period. BI Asset Management Fondsmaeglerselskab A S raised its stake in shares of Wynn Resorts by 42.9% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 5,796 shares of the casino operator’s stock worth $593,000 after buying an additional 1,740 shares during the period. Finally, Texas Permanent School Fund Corp raised its stake in shares of Wynn Resorts by 2.8% during the 1st quarter. Texas Permanent School Fund Corp now owns 19,706 shares of the casino operator’s stock worth $2,015,000 after buying an additional 531 shares during the period. Hedge funds and other institutional investors own 68.87% of the company’s stock.

Insider Activity at Wynn Resorts

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of Wynn Resorts stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $78.73, for a total value of $208,634.50. Following the transaction, the director now owns 5,689 shares in the company, valued at $447,894.97. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.52% of the stock is currently owned by corporate insiders.

Wynn Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Friday, November 15th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.00 annualized dividend and a dividend yield of 1.15%. Wynn Resorts’s payout ratio is currently 12.33%.

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.