FY2024 EPS Estimates for Wynn Resorts, Limited Boosted by Analyst (NASDAQ:WYNN)

Wynn Resorts, Limited (NASDAQ:WYNN) – Equities researchers at Seaport Res Ptn lifted their FY2024 EPS estimates for Wynn Resorts in a report released on Wednesday, June 26th. Seaport Res Ptn analyst V. Umansky now anticipates that the casino operator will post earnings of $4.74 per share for the year, up from their prior estimate 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.

Several other brokerages have also recently weighed in on WYNN. Morgan Stanley upped their target price on Wynn Resorts from $107.00 to $114.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Argus raised shares of Wynn Resorts from a “hold” rating to a “buy” rating and set a $110.00 price objective for the company in a research note on Thursday, May 23rd. Wells Fargo & Company raised their target price on shares of Wynn Resorts from $125.00 to $128.00 and gave the company an “overweight” rating in a research report on Wednesday, May 8th. Barclays upped their price target on shares of Wynn Resorts from $124.00 to $128.00 and gave the stock an “overweight” rating in a research report on Thursday, May 9th. Finally, StockNews.com upgraded shares of Wynn Resorts from a “hold” rating to a “buy” rating in a research note on Friday, May 17th. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $121.31.

Wynn Resorts Stock Performance

Shares of NASDAQ WYNN opened at $89.50 on Friday. The stock has a 50 day moving average price of $93.80 and a 200 day moving average price of $96.86. The firm has a market capitalization of $10.03 billion, a price-to-earnings ratio of 12.26 and a beta of 1.85. Wynn Resorts has a 52-week low of $81.65 and a 52-week high of $112.25.

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

Hedge Funds Weigh In On Wynn Resorts

Several hedge funds have recently made changes to their positions in WYNN. Blue Trust Inc. boosted its holdings in shares of Wynn Resorts by 3,000.0% in the 4th quarter. Blue Trust Inc. now owns 279 shares of the casino operator’s stock valued at $25,000 after acquiring an additional 270 shares during the last quarter. ICA Group Wealth Management LLC acquired a new stake in Wynn Resorts during the 4th quarter worth about $27,000. Sunbelt Securities Inc. raised its stake in shares of Wynn Resorts by 4,285.7% during the 3rd quarter. Sunbelt Securities Inc. now owns 307 shares of the casino operator’s stock valued at $28,000 after buying an additional 300 shares during the last quarter. Register Financial Advisors LLC acquired a new position in shares of Wynn Resorts in the 1st quarter valued at about $37,000. Finally, GAMMA Investing LLC purchased a new stake in shares of Wynn Resorts in the fourth quarter worth about $38,000. 68.87% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Wynn Resorts

In related 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 value of $230,877.94. Following the completion of the transaction, the director now directly owns 9,226 shares of the company’s stock, valued at approximately $870,842.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.52% of the stock is currently owned by corporate insiders.

Wynn Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Monday, May 20th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, May 17th. This represents a $1.00 annualized dividend and a yield of 1.12%. Wynn Resorts’s dividend payout ratio (DPR) is 13.70%.

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.