FY2024 EPS Estimates for Wynn Resorts, Limited (NASDAQ:WYNN) Reduced by Analyst

Wynn Resorts, Limited (NASDAQ:WYNN) – Research analysts at Zacks Research dropped their FY2024 EPS estimates for Wynn Resorts in a report issued on Tuesday, October 15th. Zacks Research analyst M. Kaushik now forecasts that the casino operator will post earnings of $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.

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

Other research analysts also recently issued reports about the stock. Susquehanna upped their price target on shares of Wynn Resorts from $92.00 to $122.00 and gave the company a “positive” rating in a report on Friday, October 11th. Jefferies Financial Group cut their price objective on Wynn Resorts from $111.00 to $96.00 and set a “hold” rating on the stock in a research report on Thursday, July 11th. Deutsche Bank Aktiengesellschaft decreased their target price on Wynn Resorts from $131.00 to $122.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Morgan Stanley boosted their price objective on shares of Wynn Resorts from $104.00 to $112.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Finally, Macquarie reaffirmed an “outperform” rating and issued a $126.00 target price on shares of Wynn Resorts in a research report on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Wynn Resorts presently has an average rating of “Moderate Buy” and an average target price of $115.20.

Wynn Resorts Stock Down 4.6 %

NASDAQ WYNN opened at $99.22 on Wednesday. The company has a 50-day simple moving average of $83.98 and a two-hundred day simple moving average of $89.27. The firm has a market cap of $11.01 billion, a price-to-earnings ratio of 13.46, a PEG ratio of 2.68 and a beta of 1.81. Wynn Resorts has a 12-month low of $71.63 and a 12-month high of $110.38.

Hedge Funds Weigh In On Wynn Resorts

A number of large investors have recently made changes to their positions in the company. International Assets Investment Management LLC bought a new position in shares of Wynn Resorts during the 2nd quarter worth approximately $25,000. Register Financial Advisors LLC acquired a new stake in Wynn Resorts during the first quarter worth about $37,000. Versant Capital Management Inc acquired a new position in shares of Wynn Resorts in the 2nd quarter worth approximately $51,000. Covestor Ltd increased its stake in 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 buying an additional 506 shares during the period. Finally, GAMMA Investing LLC grew 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 worth $68,000 after buying an additional 264 shares in the last quarter. 68.87% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Wynn Resorts

In related news, Director Patricia Mulroy sold 2,650 shares of Wynn Resorts stock in a transaction on Monday, September 16th. The shares were sold at an average price of $78.73, for a total transaction of $208,634.50. Following the transaction, the director now owns 5,689 shares in the company, valued at approximately $447,894.97. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.52% of the company’s stock.

Wynn Resorts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.01%. The ex-dividend date was Monday, August 19th. Wynn Resorts’s dividend payout ratio is 13.57%.

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.