FY2024 EPS Estimates for Wynn Resorts, Limited (NASDAQ:WYNN) Increased by Seaport Res Ptn

Wynn Resorts, Limited (NASDAQ:WYNN) – Equities research analysts at Seaport Res Ptn lifted their FY2024 earnings per share (EPS) estimates for Wynn Resorts in a note issued to investors on Wednesday, June 26th. Seaport Res Ptn analyst V. Umansky now forecasts that the casino operator will post earnings per share of $4.74 for the year, up from their previous forecast of $4.69. Seaport Res Ptn has a “Strong-Buy” rating on the stock. The consensus estimate for Wynn Resorts’ current full-year earnings is $5.59 per share. Seaport Res Ptn also issued estimates for Wynn Resorts’ FY2025 earnings at $5.48 EPS.

A number of other analysts have also recently weighed in on the company. Stifel Nicolaus increased their price target on Wynn Resorts from $135.00 to $138.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Barclays increased their target price on Wynn Resorts from $124.00 to $128.00 and gave the stock an “overweight” rating in a research report on Thursday, May 9th. Mizuho began coverage on shares of Wynn Resorts in a report on Thursday, April 4th. They set a “buy” rating and a $131.00 price target for the company. Wells Fargo & Company increased their price objective on shares of Wynn Resorts from $125.00 to $128.00 and gave the stock an “overweight” rating in a report on Wednesday, May 8th. Finally, Argus upgraded shares of Wynn Resorts from a “hold” rating to a “buy” rating and set a $110.00 price objective on the stock in a research report on Thursday, May 23rd. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Wynn Resorts has an average rating of “Moderate Buy” and an average price target of $121.31.

Wynn Resorts Stock Up 0.4 %

Shares of NASDAQ WYNN opened at $89.50 on Friday. The firm’s 50-day moving average price is $93.80 and its two-hundred day moving average price is $96.86. Wynn Resorts has a 52-week low of $81.65 and a 52-week high of $112.25. The stock has a market capitalization of $10.03 billion, a P/E ratio of 12.26 and a beta of 1.85.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Tuesday, May 7th. The casino operator reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.16. Wynn Resorts had a net margin of 12.36% and a negative return on equity of 46.04%. The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same period last year, the firm posted $0.29 EPS. The company’s revenue for the quarter was up 30.9% on a year-over-year basis.

Hedge Funds Weigh In On Wynn Resorts

Several large investors have recently made changes to their positions in WYNN. Blue Trust Inc. raised its position in shares of Wynn Resorts by 3,000.0% during the fourth quarter. Blue Trust Inc. now owns 279 shares of the casino operator’s stock worth $25,000 after purchasing an additional 270 shares during the period. ICA Group Wealth Management LLC purchased a new position in Wynn Resorts in the 4th quarter worth about $27,000. Sunbelt Securities Inc. raised its holdings in Wynn Resorts by 4,285.7% during the 3rd quarter. Sunbelt Securities Inc. now owns 307 shares of the casino operator’s stock worth $28,000 after buying an additional 300 shares during the period. Register Financial Advisors LLC purchased a new stake in Wynn Resorts during the first quarter valued at about $37,000. Finally, GAMMA Investing LLC acquired a new position in shares of Wynn Resorts in the fourth quarter worth about $38,000. Institutional investors own 68.87% of the company’s stock.

Insider Buying and Selling

In other Wynn Resorts news, Director Betsy S. Atkins sold 2,446 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $94.39, for a total transaction of $230,877.94. Following the completion of the transaction, the director now directly owns 9,226 shares of the company’s stock, valued at approximately $870,842.14. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.52% of the stock is owned by corporate insiders.

Wynn Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Monday, May 20th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, May 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.12%. Wynn Resorts’s dividend payout ratio is presently 13.70%.

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.