Zacks Research Brokers Reduce Earnings Estimates for Wynn Resorts, Limited (NASDAQ:WYNN)

Wynn Resorts, Limited (NASDAQ:WYNN) – Equities researchers at Zacks Research decreased their Q3 2024 earnings per share estimates for shares of Wynn Resorts in a report released on Tuesday, October 15th. Zacks Research analyst M. Kaushik now forecasts that the casino operator will post earnings of $1.16 per share for the quarter, down from their previous forecast of $1.17. The consensus estimate for Wynn Resorts’ current full-year earnings is $5.44 per share. Zacks Research also issued estimates for Wynn Resorts’ FY2025 earnings at $5.34 EPS.

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

A number of other analysts have also commented on WYNN. Macquarie reiterated an “outperform” rating and issued a $126.00 price target on shares of Wynn Resorts in a research note on Wednesday, August 7th. Wells Fargo & Company cut their target price on shares of Wynn Resorts from $126.00 to $115.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. JPMorgan Chase & Co. lowered their price target on Wynn Resorts from $110.00 to $101.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. StockNews.com lowered Wynn Resorts from a “buy” rating to a “hold” rating in a report on Tuesday, September 17th. Finally, 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. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $115.20.

Wynn Resorts Stock Performance

NASDAQ WYNN opened at $100.24 on Thursday. The company has a market capitalization of $11.23 billion, a price-to-earnings ratio of 13.73, a PEG ratio of 2.68 and a beta of 1.81. The stock has a 50-day moving average of $84.49 and a 200 day moving average of $89.35. Wynn Resorts has a one year low of $71.63 and a one year high of $110.38.

Hedge Funds Weigh In On Wynn Resorts

Several large investors have recently made changes to their positions in WYNN. Sei Investments Co. lifted its holdings in Wynn Resorts by 5.6% in the 1st quarter. Sei Investments Co. now owns 139,038 shares of the casino operator’s stock worth $14,214,000 after purchasing an additional 7,380 shares in the last quarter. Concord Investment Counsel Inc. purchased a new position in shares of Wynn Resorts in the first quarter worth $2,461,000. UniSuper Management Pty Ltd boosted its position in shares of Wynn Resorts by 540.6% during the first quarter. UniSuper Management Pty Ltd now owns 10,179 shares of the casino operator’s stock worth $1,041,000 after acquiring an additional 8,590 shares during the last quarter. Vanguard Group Inc. grew its stake in Wynn Resorts by 1.5% during the first quarter. Vanguard Group Inc. now owns 11,028,618 shares of the casino operator’s stock valued at $1,127,456,000 after acquiring an additional 166,594 shares in the last quarter. Finally, OPTIMAS CAPITAL Ltd bought a new stake in Wynn Resorts in the 1st quarter valued at $3,394,000. 68.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Patricia Mulroy sold 2,650 shares of the company’s stock in a transaction 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 completion of the transaction, 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 position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.52% of the company’s stock.

Wynn Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were paid 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 1.00%. Wynn Resorts’s dividend payout ratio (DPR) is presently 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.