Q2 2024 Earnings Forecast for Wynn Resorts, Limited (NASDAQ:WYNN) Issued By Seaport Res Ptn

Wynn Resorts, Limited (NASDAQ:WYNN) – Equities researchers at Seaport Res Ptn dropped their Q2 2024 earnings estimates for Wynn Resorts in a note issued to investors on Monday, July 22nd. Seaport Res Ptn analyst V. Umansky now anticipates that the casino operator will post earnings of $1.04 per share for the quarter, down from their previous forecast of $1.05. Seaport Res Ptn currently 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’ Q4 2024 earnings at $1.51 EPS.

A number of other analysts have also weighed in on the stock. Macquarie decreased their target price on shares of Wynn Resorts from $128.00 to $126.00 and set an “outperform” rating on the stock in a report on Tuesday, July 9th. Jefferies Financial Group decreased their target price on shares of Wynn Resorts from $111.00 to $96.00 and set a “hold” rating on the stock in a report on Thursday, July 11th. Barclays upped their target price on shares of Wynn Resorts from $124.00 to $128.00 and gave the stock an “overweight” rating in a report on Thursday, May 9th. Morgan Stanley decreased their target price on shares of 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, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Wynn Resorts from $132.00 to $131.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Wynn Resorts currently has an average rating of “Moderate Buy” and a consensus price target of $119.53.

Wynn Resorts Stock Up 1.4 %

NASDAQ WYNN opened at $81.61 on Thursday. The company’s 50 day moving average is $89.02 and its 200-day moving average is $95.86. Wynn Resorts has a 12-month low of $80.02 and a 12-month high of $111.09. The firm has a market cap of $9.15 billion, a P/E ratio of 11.18 and a beta of 1.82.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results 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. Wynn Resorts had a net margin of 12.36% and a negative return on equity of 46.04%. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the previous year, the firm posted $0.29 earnings per share. The company’s quarterly revenue was up 30.9% compared to the same quarter last year.

Wynn Resorts Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Monday, May 20th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, May 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.23%. Wynn Resorts’s dividend payout ratio (DPR) is 13.70%.

Insider Activity

In other news, Director Betsy S. Atkins sold 2,446 shares of the company’s stock in a transaction 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 sale, the director now owns 9,226 shares of the company’s stock, valued at approximately $870,842.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.52% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Wynn Resorts

A number of institutional investors have recently made changes to their positions in WYNN. Nisa Investment Advisors LLC boosted its position 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 buying an additional 109 shares during the period. Fifth Third Bancorp raised its holdings in Wynn Resorts by 8.5% in the 1st quarter. Fifth Third Bancorp now owns 1,416 shares of the casino operator’s stock worth $145,000 after purchasing an additional 111 shares in the last quarter. Empirical Finance LLC raised its holdings in Wynn Resorts by 3.7% in the 1st quarter. Empirical Finance LLC now owns 3,220 shares of the casino operator’s stock worth $329,000 after purchasing an additional 114 shares in the last quarter. EntryPoint Capital LLC raised its holdings in Wynn Resorts by 7.2% in the 1st quarter. EntryPoint Capital LLC now owns 1,738 shares of the casino operator’s stock worth $178,000 after purchasing an additional 117 shares in the last quarter. Finally, Federated Hermes Inc. raised its holdings 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 in the last quarter. Hedge funds and other institutional investors own 68.87% of the company’s stock.

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.