FY2024 EPS Estimates for Wynn Resorts, Limited Cut by Zacks Research (NASDAQ:WYNN)

Wynn Resorts, Limited (NASDAQ:WYNN) – Analysts at Zacks Research decreased their FY2024 earnings per share estimates for shares of Wynn Resorts in a research report issued on Tuesday, October 15th. Zacks Research analyst M. Kaushik now forecasts that the casino operator will earn $5.33 per share for the year, down from their prior forecast of $5.34. The consensus estimate for Wynn Resorts’ current full-year earnings is $5.44 per share. Zacks Research also issued estimates for Wynn Resorts’ Q4 2024 earnings at $1.45 EPS, Q1 2025 earnings at $1.41 EPS, Q3 2025 earnings at $1.31 EPS, Q4 2025 earnings at $1.43 EPS, Q1 2026 earnings at $1.28 EPS, Q2 2026 earnings at $1.22 EPS, Q3 2026 earnings at $1.32 EPS and FY2026 earnings at $5.38 EPS.

A number of other research firms have also commented on WYNN. Morgan Stanley increased their price target on Wynn Resorts from $104.00 to $112.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Deutsche Bank Aktiengesellschaft decreased their price objective on Wynn Resorts from $131.00 to $122.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. JPMorgan Chase & Co. decreased their price objective on Wynn Resorts from $110.00 to $101.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Jefferies Financial Group decreased their price objective on Wynn Resorts from $111.00 to $96.00 and set a “hold” rating on the stock in a research report on Thursday, July 11th. Finally, Susquehanna increased their price objective on Wynn Resorts from $92.00 to $122.00 and gave the company a “positive” rating in a research report on Friday, October 11th. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $115.20.

Wynn Resorts Price Performance

NASDAQ WYNN opened at $100.24 on Wednesday. The firm has a market cap of $11.23 billion, a PE ratio of 13.73, a price-to-earnings-growth ratio of 2.68 and a beta of 1.81. Wynn Resorts has a one year low of $71.63 and a one year high of $110.38. The stock’s 50 day simple moving average is $84.49 and its 200 day simple moving average is $89.35.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings results on Tuesday, August 6th. The casino operator reported $1.12 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.74 billion. Wynn Resorts had a negative return on equity of 53.84% and a net margin of 12.22%. The firm’s revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the company earned $0.91 earnings per share.

Institutional Trading of Wynn Resorts

Several hedge funds have recently added to or reduced their stakes in WYNN. Interval Partners LP raised its stake in Wynn Resorts by 999.0% during the 1st quarter. Interval Partners LP now owns 400,911 shares of the casino operator’s stock worth $40,985,000 after buying an additional 364,432 shares during the period. Renaissance Technologies LLC raised its stake in shares of Wynn Resorts by 29.1% in the 2nd quarter. Renaissance Technologies LLC now owns 1,345,100 shares of the casino operator’s stock valued at $120,386,000 after purchasing an additional 303,033 shares during the period. Sequoia Financial Advisors LLC raised its stake in shares of Wynn Resorts by 6,720.4% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 257,537 shares of the casino operator’s stock valued at $23,050,000 after purchasing an additional 253,761 shares during the period. Janus Henderson Group PLC raised its stake in shares of 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 purchasing an additional 204,852 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of 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 purchasing an additional 166,594 shares during the period. Institutional investors and hedge funds own 68.87% of the company’s stock.

Insider Transactions at Wynn Resorts

In related news, Director Patricia Mulroy sold 2,650 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $78.73, for a total transaction of $208,634.50. Following the sale, the director now owns 5,689 shares of the company’s stock, valued at approximately $447,894.97. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.52% of the stock is owned by corporate insiders.

Wynn Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were given a $0.25 dividend. The ex-dividend date was Monday, August 19th. This represents a $1.00 annualized dividend and a dividend yield of 1.00%. Wynn Resorts’s dividend payout ratio is currently 13.70%.

Wynn Resorts Company Profile

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.