Q2 2024 Earnings Forecast for Wynn Resorts, Limited (NASDAQ:WYNN) Issued By Seaport Res Ptn

Wynn Resorts, Limited (NASDAQ:WYNN) – Seaport Res Ptn lowered their Q2 2024 EPS estimates for Wynn Resorts in a research note issued on Monday, July 22nd. Seaport Res Ptn analyst V. Umansky now forecasts that the casino operator will post earnings per share of $1.04 for the quarter, down from their previous estimate of $1.05. Seaport Res Ptn currently has a “Strong-Buy” rating on the stock. The consensus estimate for Wynn Resorts’ current full-year earnings is $5.62 per share. Seaport Res Ptn also issued estimates for Wynn Resorts’ Q4 2024 earnings at $1.51 EPS.

A number of other research analysts have also recently commented on WYNN. Barclays raised their price target on shares of Wynn Resorts from $124.00 to $128.00 and gave the stock an “overweight” rating in a research note on Thursday, May 9th. Mizuho assumed coverage on shares of Wynn Resorts in a research note on Thursday, April 4th. They set a “buy” rating and a $131.00 price target for the company. Deutsche Bank Aktiengesellschaft cut their price target on shares of Wynn Resorts from $132.00 to $131.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. Argus upgraded shares of Wynn Resorts from a “hold” rating to a “buy” rating and set a $110.00 price target for the company in a research note on Thursday, May 23rd. Finally, Macquarie dropped their price objective on shares of Wynn Resorts from $128.00 to $126.00 and set an “outperform” rating for the company in a report on Tuesday, July 9th. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $119.53.

Wynn Resorts Stock Performance

NASDAQ WYNN opened at $81.61 on Thursday. The stock has a market cap of $9.15 billion, a PE ratio of 11.18 and a beta of 1.82. Wynn Resorts has a twelve month low of $80.02 and a twelve month high of $111.09. The firm has a 50-day simple moving average of $89.02 and a 200 day simple moving average of $95.86.

Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Tuesday, May 7th. The casino operator reported $1.59 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter last year, the company earned $0.29 earnings per share. The firm’s revenue was up 30.9% on a year-over-year basis.

Institutional Trading of Wynn Resorts

Institutional investors and hedge funds have recently made changes to their positions in the business. Sei Investments Co. raised its position in shares of Wynn Resorts by 5.6% during the 1st quarter. Sei Investments Co. now owns 139,038 shares of the casino operator’s stock valued at $14,214,000 after acquiring an additional 7,380 shares during the last quarter. Concord Investment Counsel Inc. bought a new stake in shares of Wynn Resorts during the 1st quarter valued at $2,461,000. CIBC Private Wealth Group LLC acquired a new position in shares of Wynn Resorts in the 4th quarter valued at $1,376,000. UniSuper Management Pty Ltd grew its holdings in shares of Wynn Resorts by 540.6% in the 1st quarter. UniSuper Management Pty Ltd now owns 10,179 shares of the casino operator’s stock valued at $1,041,000 after buying an additional 8,590 shares during the period. Finally, Jump Financial LLC grew its holdings in shares of Wynn Resorts by 28.1% in the 4th quarter. Jump Financial LLC now owns 56,755 shares of the casino operator’s stock valued at $5,171,000 after buying an additional 12,461 shares during the period. Institutional investors own 68.87% of the company’s stock.

Insider Buying and Selling

In related news, Director Betsy S. Atkins sold 2,446 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $94.39, for a total value of $230,877.94. Following the completion of the transaction, the director now owns 9,226 shares in the company, valued at approximately $870,842.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.52% of the stock is currently 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 given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.23%. The ex-dividend date was Friday, May 17th. 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.