FY2024 EPS Estimates for Wynn Resorts Lowered by Analyst

Wynn Resorts, Limited (NASDAQ:WYNN) – Investment analysts at Zacks Research dropped their FY2024 EPS estimates for shares of Wynn Resorts in a report released on Monday, November 25th. Zacks Research analyst M. Kaushik now forecasts that the casino operator will post earnings of $4.69 per share for the year, down from their prior estimate 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 issued its quarterly earnings data on Monday, November 4th. The casino operator reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). Wynn Resorts had a net margin of 13.37% and a negative return on equity of 61.16%. The business had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the prior year, the business earned $0.99 earnings per share. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year.

Several other research analysts have also recently issued reports on WYNN. Susquehanna lifted their target price on Wynn Resorts from $92.00 to $122.00 and gave the company a “positive” rating in a research report on Friday, October 11th. Macquarie reaffirmed an “outperform” rating and set a $120.00 price objective on shares of Wynn Resorts in a report on Tuesday, November 5th. JPMorgan Chase & Co. raised their price target on shares of Wynn Resorts from $101.00 to $113.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. UBS Group raised shares of Wynn Resorts to a “hold” rating in a research report on Friday, August 23rd. Finally, Stifel Nicolaus dropped their target price on shares of Wynn Resorts from $121.00 to $103.00 and set a “buy” rating on the stock in a research report on Friday, September 13th. Four equities 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 company. Based on data from MarketBeat.com, Wynn Resorts has a consensus rating of “Moderate Buy” and an average target price of $115.71.

Wynn Resorts Stock Performance

WYNN stock opened at $91.67 on Thursday. The business has a 50-day simple moving average of $94.12 and a two-hundred day simple moving average of $87.96. The company has a market capitalization of $10.07 billion, a P/E ratio of 11.30, a price-to-earnings-growth ratio of 3.30 and a beta of 1.80. Wynn Resorts has a 52-week low of $71.63 and a 52-week high of $110.38.

Wynn Resorts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.09%. Wynn Resorts’s dividend payout ratio is presently 12.33%.

Insider Transactions at Wynn Resorts

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $78.73, for a total transaction of $208,634.50. Following the sale, the director now directly owns 5,689 shares of the company’s stock, valued at $447,894.97. This represents a 31.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.52% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Wynn Resorts

Several large investors have recently modified their holdings of WYNN. International Assets Investment Management LLC bought a new position in Wynn Resorts in the 2nd quarter worth approximately $25,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Wynn Resorts during the third quarter worth $31,000. Blue Trust Inc. boosted its holdings in shares of Wynn Resorts by 556.0% in the third quarter. Blue Trust Inc. now owns 551 shares of the casino operator’s stock worth $49,000 after acquiring an additional 467 shares during the period. Versant Capital Management Inc purchased a new position in shares of Wynn Resorts in the second quarter valued at $51,000. Finally, GAMMA Investing LLC raised its stake in shares of Wynn Resorts by 25.1% during the 2nd quarter. GAMMA Investing LLC now owns 828 shares of the casino operator’s stock valued at $74,000 after purchasing an additional 166 shares during the period. 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.