Q3 2024 EPS Estimates for Wynn Resorts, Limited Raised by Analyst (NASDAQ:WYNN)

Wynn Resorts, Limited (NASDAQ:WYNN) – Equities research analysts at Seaport Res Ptn boosted their Q3 2024 earnings estimates for shares of Wynn Resorts in a research note issued on Wednesday, August 7th. Seaport Res Ptn analyst V. Umansky now forecasts that the casino operator will post earnings per share of $1.15 for the quarter, up from their prior forecast of $1.10. Seaport Res Ptn has a “Strong-Buy” rating on the stock. The consensus estimate for Wynn Resorts’ current full-year earnings is $5.62 per share. Seaport Res Ptn also issued estimates for Wynn Resorts’ FY2024 earnings at $5.00 EPS and FY2025 earnings at $5.57 EPS.

A number of other research analysts also recently issued reports on WYNN. Macquarie reissued an “outperform” rating and set a $126.00 price objective on shares of Wynn Resorts in a research report on Wednesday. Citigroup increased their price target on shares of Wynn Resorts from $132.00 to $138.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Deutsche Bank Aktiengesellschaft cut 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. Morgan Stanley reduced their target price on Wynn Resorts from $115.00 to $107.00 and set an “equal weight” rating on the stock in a report on Friday, July 12th. Finally, Argus upgraded Wynn Resorts from a “hold” rating to a “buy” rating and set a $110.00 price target on the stock in a research report on Thursday, May 23rd. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $116.73.

Wynn Resorts Stock Performance

WYNN opened at $74.63 on Thursday. The stock’s 50 day moving average price is $85.68 and its 200-day moving average price is $94.76. Wynn Resorts has a 52-week low of $71.63 and a 52-week high of $110.38. The stock has a market capitalization of $8.36 billion, a PE ratio of 10.22 and a beta of 1.82.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Tuesday, August 6th. The casino operator reported $1.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). Wynn Resorts had a net margin of 12.22% and a negative return on equity of 50.07%. The business had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter in the prior year, the firm earned $0.91 EPS. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis.

Wynn Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Monday, August 19th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, August 19th. This represents a $1.00 dividend on an annualized basis and a yield of 1.34%. Wynn Resorts’s dividend payout ratio is currently 13.70%.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Wynn Resorts

Several institutional investors have recently modified their holdings of WYNN. Nisa Investment Advisors LLC lifted its stake in Wynn Resorts by 0.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 27,904 shares of the casino operator’s stock valued at $2,542,000 after acquiring an additional 109 shares during the period. Fifth Third Bancorp lifted its position in Wynn Resorts by 8.5% during the first quarter. Fifth Third Bancorp now owns 1,416 shares of the casino operator’s stock valued at $145,000 after purchasing an additional 111 shares during the period. Empirical Finance LLC lifted its position in Wynn Resorts by 3.7% during the first quarter. Empirical Finance LLC now owns 3,220 shares of the casino operator’s stock valued at $329,000 after purchasing an additional 114 shares during the period. EntryPoint Capital LLC boosted its holdings in Wynn Resorts by 7.2% in the first quarter. EntryPoint Capital LLC now owns 1,738 shares of the casino operator’s stock worth $178,000 after purchasing an additional 117 shares during the last quarter. Finally, Federated Hermes Inc. grew its position in Wynn Resorts by 47.5% in the 4th quarter. Federated Hermes Inc. now owns 435 shares of the casino operator’s stock worth $40,000 after purchasing an additional 140 shares during the period. 68.87% of the stock is owned by hedge funds and other institutional investors.

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.