Analysts Offer Predictions for Wynn Resorts FY2024 Earnings

Wynn Resorts, Limited (NASDAQ:WYNN) – Seaport Res Ptn cut their FY2024 earnings estimates for shares of Wynn Resorts in a research note issued on Tuesday, November 5th. Seaport Res Ptn analyst V. Umansky now expects that the casino operator will post earnings of $3.73 per share for the year, down from their previous forecast of $5.00. The consensus estimate for Wynn Resorts’ current full-year earnings is $5.42 per share. Seaport Res Ptn also issued estimates for Wynn Resorts’ Q4 2024 earnings at $1.52 EPS and FY2025 earnings at $3.63 EPS.

Several other research analysts also recently commented on the company. Stifel Nicolaus reduced their price objective on Wynn Resorts from $121.00 to $103.00 and set a “buy” rating for the company in a research note on Friday, September 13th. Barclays decreased their price target on shares of Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating on the stock in a research note on Tuesday. Jefferies Financial Group lowered their target price on Wynn Resorts from $111.00 to $96.00 and set a “hold” rating on the stock in a report on Thursday, July 11th. Deutsche Bank Aktiengesellschaft cut their price target on Wynn Resorts from $122.00 to $118.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Wells Fargo & Company lowered their price target on shares of Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating on the stock in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $115.71.

Wynn Resorts Price Performance

Shares of Wynn Resorts stock opened at $85.32 on Thursday. The stock has a market capitalization of $9.47 billion, a P/E ratio of 10.52, a PEG ratio of 2.48 and a beta of 1.80. The business has a 50 day simple moving average of $90.58 and a two-hundred day simple moving average of $88.67. Wynn Resorts has a 12 month low of $71.63 and a 12 month high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Monday, November 4th. The casino operator reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). The company had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.73 billion. Wynn Resorts had a negative return on equity of 62.44% and a net margin of 13.37%. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.99 EPS.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in WYNN. Empirical Finance LLC lifted its position in shares of Wynn Resorts by 3.7% during 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 during the last quarter. EntryPoint Capital LLC lifted its stake in Wynn Resorts by 7.2% during 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. Fifth Third Bancorp lifted its position in shares of Wynn Resorts by 8.5% during the 2nd quarter. Fifth Third Bancorp now owns 1,536 shares of the casino operator’s stock worth $137,000 after buying an additional 120 shares during the last quarter. Allworth Financial LP boosted its holdings in shares of Wynn Resorts by 17.5% in the 3rd quarter. Allworth Financial LP now owns 895 shares of the casino operator’s stock valued at $86,000 after buying an additional 133 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its stake in Wynn Resorts by 2.8% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 5,540 shares of the casino operator’s stock valued at $496,000 after buying an additional 149 shares during the last quarter. Institutional investors and hedge funds own 68.87% of the company’s stock.

Insider Activity

In other news, Director Patricia Mulroy sold 2,650 shares of the company’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 represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.52% of the company’s stock.

Wynn Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a yield of 1.17%. Wynn Resorts’s dividend payout ratio (DPR) is presently 12.33%.

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.