Seaport Res Ptn Forecasts Weaker Earnings for Wynn Resorts

Wynn Resorts, Limited (NASDAQ:WYNN) – Investment analysts at Seaport Res Ptn decreased their FY2024 earnings per share (EPS) estimates for Wynn Resorts in a research note issued to investors on Sunday, January 26th. Seaport Res Ptn analyst V. Umansky now forecasts that the casino operator will post earnings of $3.46 per share for the year, down from their previous forecast of $3.73. The consensus estimate for Wynn Resorts’ current full-year earnings is $4.75 per share. Seaport Res Ptn also issued estimates for Wynn Resorts’ Q1 2025 earnings at $1.17 EPS, Q2 2025 earnings at $1.27 EPS, Q3 2025 earnings at $1.15 EPS, Q4 2025 earnings at $1.22 EPS and FY2027 earnings at $9.78 EPS.

Other equities analysts also recently issued reports about the stock. Barclays dropped their target price on shares of Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Morgan Stanley raised their price objective on Wynn Resorts from $112.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Wells Fargo & Company lowered their target price on Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft cut their price target on Wynn Resorts from $122.00 to $118.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Finally, 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. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $117.23.

Wynn Resorts Trading Down 0.3 %

NASDAQ WYNN opened at $84.11 on Tuesday. Wynn Resorts has a 12 month low of $71.63 and a 12 month high of $110.38. The company’s 50-day moving average price is $88.26 and its 200-day moving average price is $86.91. The stock has a market cap of $9.24 billion, a PE ratio of 10.37, a PEG ratio of 2.52 and a beta of 1.77.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data on Monday, November 4th. The casino operator reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). Wynn Resorts had a net margin of 13.37% and a negative return on equity of 61.16%. The business had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the previous year, the firm earned $0.99 EPS. Wynn Resorts’s revenue was up 1.3% compared to the same quarter last year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Public Sector Pension Investment Board purchased a new stake in shares of Wynn Resorts during the second quarter worth about $258,000. Marshall Wace LLP acquired a new stake in Wynn Resorts in the 2nd quarter worth approximately $1,869,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in Wynn Resorts by 58.9% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 19,318 shares of the casino operator’s stock worth $1,729,000 after purchasing an additional 7,159 shares during the last quarter. Toronto Dominion Bank increased its stake in Wynn Resorts by 86.5% during the 2nd quarter. Toronto Dominion Bank now owns 54,320 shares of the casino operator’s stock valued at $4,862,000 after purchasing an additional 25,195 shares in the last quarter. Finally, APG Asset Management N.V. raised its holdings in shares of Wynn Resorts by 231.0% in the second quarter. APG Asset Management N.V. now owns 11,176 shares of the casino operator’s stock worth $933,000 after buying an additional 7,800 shares during the last quarter. 88.64% of the stock is currently owned by hedge funds and other institutional investors.

Wynn Resorts Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.00 annualized dividend and a dividend yield of 1.19%. Wynn Resorts’s dividend payout ratio is presently 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.