Zacks Research Forecasts Reduced Earnings for Wynn Resorts

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

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The casino operator reported $0.90 earnings per share 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 analysts' expectations of $1.73 billion. Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. The business's revenue for the quarter was up 1.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.99 EPS.

Other equities analysts have also issued reports about the company. Macquarie reaffirmed an "outperform" rating and issued a $120.00 price objective on shares of Wynn Resorts in a research note on Tuesday, November 5th. Barclays lowered their price objective on Wynn Resorts from $125.00 to $119.00 and set an "overweight" rating for the company in a research note on Tuesday, November 5th. UBS Group raised Wynn Resorts to a "hold" rating in a research report on Friday, August 23rd. JPMorgan Chase & Co. increased their target price on Wynn Resorts from $101.00 to $113.00 and gave the company an "overweight" rating in a research note on Tuesday, November 5th. Finally, Wells Fargo & Company dropped their price target on shares of Wynn Resorts from $125.00 to $122.00 and set an "overweight" rating for the company in a research note on Tuesday, November 5th. Four equities research 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. According to MarketBeat.com, Wynn Resorts currently has an average rating of "Moderate Buy" and a consensus target price of $115.71.

Wynn Resorts Price Performance

WYNN stock traded down $0.19 during trading on Thursday, reaching $91.67. 1,436,484 shares of the stock traded hands, compared to its average volume of 3,286,550. The firm has a market capitalization of $10.07 billion, a PE ratio of 11.30, a P/E/G ratio of 3.30 and a beta of 1.80. The business's 50 day moving average price is $94.38 and its 200-day moving average price is $87.98. Wynn Resorts has a 52-week low of $71.63 and a 52-week high of $110.38.

Hedge Funds Weigh In On Wynn Resorts

Several institutional investors have recently modified their holdings of WYNN. Regal Partners Ltd lifted its position in Wynn Resorts by 24.0% in the 3rd quarter. Regal Partners Ltd now owns 898,705 shares of the casino operator's stock valued at $86,168,000 after purchasing an additional 174,005 shares during the last quarter. Cetera Investment Advisers lifted its stake in shares of Wynn Resorts by 326.5% in the 1st quarter. Cetera Investment Advisers now owns 25,980 shares of the casino operator's stock worth $2,656,000 after acquiring an additional 19,889 shares during the period. Crystal Rock Capital Management acquired a new position in shares of Wynn Resorts during the third quarter valued at approximately $719,000. MBB Public Markets I LLC bought a new stake in Wynn Resorts during the second quarter worth approximately $698,000. Finally, Virtu Financial LLC acquired a new stake in Wynn Resorts in the first quarter worth approximately $1,248,000. Institutional investors own 68.87% of the company's stock.

Insider Activity at Wynn Resorts

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $78.73, for a total value of $208,634.50. Following the sale, the director now directly owns 5,689 shares of the company's stock, valued at $447,894.97. This trade represents a 31.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.52% of the company's stock.

Wynn Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Friday, November 15th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend was Friday, November 15th. Wynn Resorts's dividend payout ratio (DPR) is 12.33%.

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.