Equities Analysts Set Expectations for Wynn Resorts, Limited’s FY2024 Earnings (NASDAQ:WYNN)

Wynn Resorts, Limited (NASDAQ:WYNN) – Research analysts at Zacks Research decreased their FY2024 earnings per share estimates for Wynn Resorts in a note issued to investors on Tuesday, October 15th. Zacks Research analyst M. Kaushik now expects that the casino operator will earn $5.33 per share for the year, down from their previous estimate of $5.34. The consensus estimate for Wynn Resorts’ current full-year earnings is $5.44 per share. Zacks Research also issued estimates for Wynn Resorts’ Q4 2024 earnings at $1.45 EPS, Q1 2025 earnings at $1.41 EPS, Q3 2025 earnings at $1.31 EPS, Q4 2025 earnings at $1.43 EPS, Q1 2026 earnings at $1.28 EPS, Q2 2026 earnings at $1.22 EPS, Q3 2026 earnings at $1.32 EPS and FY2026 earnings at $5.38 EPS.

A number of other research analysts have also recently weighed in on WYNN. Macquarie reiterated an “outperform” rating and issued a $126.00 target price on shares of Wynn Resorts in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft dropped their target price on Wynn Resorts from $131.00 to $122.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. StockNews.com downgraded shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Tuesday, September 17th. Stifel Nicolaus lowered their price target on Wynn Resorts from $121.00 to $103.00 and set a “buy” rating for the company in a report on Friday, September 13th. Finally, UBS Group upgraded Wynn Resorts to a “hold” rating in a research note on Friday, August 23rd. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $115.20.

Wynn Resorts Stock Down 4.6 %

WYNN opened at $99.22 on Wednesday. The firm has a market cap of $11.01 billion, a P/E ratio of 13.46, a PEG ratio of 2.68 and a beta of 1.81. The business’s fifty day simple moving average is $83.98 and its 200 day simple moving average is $89.27. Wynn Resorts has a 52 week low of $71.63 and a 52 week high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last issued its earnings results on Tuesday, August 6th. The casino operator reported $1.12 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.02). The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.74 billion. Wynn Resorts had a negative return on equity of 53.84% and a net margin of 12.22%. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.91 earnings per share.

Wynn Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 19th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.01%. Wynn Resorts’s dividend payout ratio is currently 13.57%.

Insider Activity

In other news, Director Patricia Mulroy sold 2,650 shares of Wynn Resorts stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $78.73, for a total value of $208,634.50. Following the transaction, the director now owns 5,689 shares of the company’s stock, valued at $447,894.97. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.52% of the stock is currently owned by insiders.

Institutional Trading of Wynn Resorts

Several hedge funds have recently added to or reduced their stakes in the business. International Assets Investment Management LLC acquired a new position in shares of Wynn Resorts during the second quarter worth approximately $25,000. Register Financial Advisors LLC bought a new stake in Wynn Resorts in the 1st quarter valued at $37,000. Versant Capital Management Inc acquired a new stake in Wynn Resorts in the 2nd quarter worth $51,000. Covestor Ltd increased its holdings in shares of Wynn Resorts by 421.7% during the 1st quarter. Covestor Ltd now owns 626 shares of the casino operator’s stock worth $64,000 after purchasing an additional 506 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of Wynn Resorts by 66.3% during the first quarter. GAMMA Investing LLC now owns 662 shares of the casino operator’s stock valued at $68,000 after buying an additional 264 shares during the last quarter. 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.