Wynn Resorts FY2024 EPS Forecast Decreased by Zacks Research

Wynn Resorts, Limited (NASDAQ:WYNN) – Investment analysts at Zacks Research decreased their FY2024 earnings per share (EPS) estimates for shares of Wynn Resorts in a report issued on Monday, November 25th. Zacks Research analyst M. Kaushik now expects that the casino operator will post earnings per share of $4.69 for the year, down from their previous forecast 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.

Other equities research analysts have also issued reports about the stock. Wells Fargo & Company decreased their price target on shares of Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. UBS Group upgraded shares of Wynn Resorts to a “hold” rating in a report on Friday, August 23rd. Macquarie reissued 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. upped their target price on Wynn Resorts from $101.00 to $113.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, Barclays cut their price target on Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Wynn Resorts currently has a consensus rating of “Moderate Buy” and an average target price of $115.71.

Wynn Resorts Stock Down 0.2 %

Wynn Resorts stock opened at $91.67 on Thursday. The stock has a market cap of $10.07 billion, a PE ratio of 11.30, a P/E/G ratio of 3.30 and a beta of 1.80. Wynn Resorts has a 12-month low of $71.63 and a 12-month high of $110.38. The business’s 50-day moving average price is $94.12 and its two-hundred day moving average price is $87.96.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data 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 the consensus estimate of $1.73 billion. Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. Wynn Resorts’s revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the business earned $0.99 EPS.

Wynn Resorts Announces Dividend

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

Insider Activity at Wynn Resorts

In other news, Director Patricia Mulroy sold 2,650 shares of Wynn Resorts stock in a transaction dated Monday, September 16th. The stock was 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 directly owns 5,689 shares of the company’s stock, valued at approximately $447,894.97. This trade represents a 31.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.52% of the stock is owned by company insiders.

Institutional Investors Weigh In On Wynn Resorts

Large investors have recently added to or reduced their stakes in the business. IHT Wealth Management LLC boosted its holdings in shares of Wynn Resorts by 1.7% during the 3rd quarter. IHT Wealth Management LLC now owns 6,766 shares of the casino operator’s stock worth $654,000 after buying an additional 112 shares in the last quarter. Fifth Third Bancorp boosted its stake in Wynn Resorts by 8.5% during the second quarter. Fifth Third Bancorp now owns 1,536 shares of the casino operator’s stock worth $137,000 after acquiring an additional 120 shares in the last quarter. Allworth Financial LP grew its holdings in Wynn Resorts by 17.5% in the third quarter. Allworth Financial LP now owns 895 shares of the casino operator’s stock worth $86,000 after purchasing an additional 133 shares during the period. Vanguard Personalized Indexing Management LLC increased 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 purchasing an additional 149 shares in the last quarter. Finally, Garde Capital Inc. raised its holdings in shares of Wynn Resorts by 10.1% during the first quarter. Garde Capital Inc. now owns 1,737 shares of the casino operator’s stock valued at $177,000 after purchasing an additional 160 shares during the period. Institutional investors and hedge funds own 68.87% of the company’s stock.

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.