Wynn Resorts FY2024 EPS Forecast Lowered by Zacks Research

Wynn Resorts, Limited (NASDAQ:WYNN) – Stock analysts at Zacks Research reduced their FY2024 earnings estimates for Wynn Resorts in a research report issued on Monday, November 25th. Zacks Research analyst M. Kaushik now forecasts that the casino operator will post earnings per share of $4.69 for the year, down from their previous forecast of $5.33. The consensus estimate for Wynn Resorts’ current full-year earnings is $4.87 per share. Zacks Research also issued estimates for Wynn Resorts’ Q4 2024 earnings at $1.08 EPS, Q1 2025 earnings at $1.14 EPS, Q3 2025 earnings at $1.08 EPS, FY2025 earnings at $4.58 EPS and FY2026 earnings at $4.62 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 business had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.73 billion. Wynn Resorts had a net margin of 13.37% and a negative return on equity of 61.16%. Wynn Resorts’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.99 EPS.

WYNN has been the subject of several other reports. JPMorgan Chase & Co. boosted their price objective on shares of Wynn Resorts from $101.00 to $113.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Wells Fargo & Company cut their target price on shares of Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Macquarie reissued an “outperform” rating and set a $120.00 price target on shares of Wynn Resorts in a report on Tuesday, November 5th. Barclays cut their price objective on Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Finally, Morgan Stanley upped their price objective on Wynn Resorts from $112.00 to $115.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Four investment 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’s stock. Based on data from MarketBeat.com, Wynn Resorts has an average rating of “Moderate Buy” and a consensus price target of $115.71.

Wynn Resorts Trading Down 0.2 %

WYNN stock opened at $91.67 on Thursday. The stock’s 50 day simple moving average is $94.38 and its 200 day simple moving average is $87.98. Wynn Resorts has a 12-month low of $71.63 and a 12-month high of $110.38. The stock has a market capitalization of $10.07 billion, a PE ratio of 11.30, a price-to-earnings-growth ratio of 3.30 and a beta of 1.80.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Franklin Resources Inc. increased its holdings in shares of Wynn Resorts by 0.5% in the third quarter. Franklin Resources Inc. now owns 250,962 shares of the casino operator’s stock valued at $26,088,000 after purchasing an additional 1,165 shares during the last quarter. Synovus Financial Corp acquired a new stake in shares of Wynn Resorts in the 3rd quarter worth $202,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Wynn Resorts in the 3rd quarter worth $31,000. Sunbelt Securities Inc. raised its holdings in shares of Wynn Resorts by 618.3% during the 3rd quarter. Sunbelt Securities Inc. now owns 2,672 shares of the casino operator’s stock worth $256,000 after acquiring an additional 2,300 shares during the period. Finally, Chiron Investment Management LLC acquired a new position in shares of Wynn Resorts during the 3rd quarter valued at about $850,000. Institutional investors and hedge funds own 68.87% of the company’s stock.

Insider Activity

In related 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 completion of the transaction, the director now owns 5,689 shares in the company, valued at $447,894.97. The trade was a 31.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.52% of the company’s stock.

Wynn Resorts Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Friday, November 15th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.09%. The ex-dividend date was Friday, November 15th. Wynn Resorts’s payout ratio is 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.