Wynn Resorts FY2024 EPS Forecast Reduced by Seaport Res Ptn

Wynn Resorts, Limited (NASDAQ:WYNN) – Analysts at Seaport Res Ptn dropped their FY2024 earnings per share estimates for shares of Wynn Resorts in a research note issued to investors on Tuesday, November 5th. Seaport Res Ptn analyst V. Umansky now anticipates that the casino operator will earn $3.73 per share for the year, down from their prior estimate of $5.00. The consensus estimate for Wynn Resorts’ current full-year earnings is $5.10 per share. Seaport Res Ptn also issued estimates for Wynn Resorts’ Q4 2024 earnings at $1.52 EPS and FY2025 earnings at $3.63 EPS.

Several other analysts have also issued reports on the stock. Stifel Nicolaus cut their price target on shares of Wynn Resorts from $121.00 to $103.00 and set a “buy” rating for the company in a research report on Friday, September 13th. Wells Fargo & Company dropped 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. UBS Group upgraded Wynn Resorts to a “hold” rating in a research report on Friday, August 23rd. Susquehanna boosted their price objective on Wynn Resorts from $92.00 to $122.00 and gave the company a “positive” rating in a research report on Friday, October 11th. Finally, StockNews.com cut shares of Wynn Resorts from a “buy” rating to a “hold” rating in a report on Tuesday, September 17th. Four 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 stock. According to MarketBeat.com, Wynn Resorts currently has a consensus rating of “Moderate Buy” and a consensus price target of $115.71.

Wynn Resorts Stock Performance

WYNN stock opened at $84.30 on Thursday. The firm has a market cap of $9.26 billion, a P/E ratio of 10.39, a P/E/G ratio of 2.35 and a beta of 1.80. The firm’s fifty day moving average is $90.96 and its 200 day moving average is $88.56. Wynn Resorts has a 52 week low of $71.63 and a 52 week high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last issued its earnings results on Monday, November 4th. The casino operator reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.11). The firm had revenue of $1.69 billion during 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 firm’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.99 EPS.

Institutional Trading of Wynn Resorts

Several large investors have recently added to or reduced their stakes in WYNN. International Assets Investment Management LLC purchased a new position in shares of Wynn Resorts during the 2nd quarter valued at about $25,000. Blue Trust Inc. boosted its position in shares of Wynn Resorts by 556.0% in the third quarter. Blue Trust Inc. now owns 551 shares of the casino operator’s stock worth $49,000 after purchasing an additional 467 shares during the period. Versant Capital Management Inc purchased a new stake in shares of Wynn Resorts in the second quarter worth $51,000. Covestor Ltd raised its position in shares of Wynn Resorts by 421.7% during the 1st quarter. Covestor Ltd now owns 626 shares of the casino operator’s stock valued at $64,000 after purchasing an additional 506 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Wynn Resorts by 25.1% during the 2nd quarter. GAMMA Investing LLC now owns 828 shares of the casino operator’s stock valued at $74,000 after buying an additional 166 shares in the last quarter. 68.87% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Patricia Mulroy sold 2,650 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $78.73, for a total transaction of $208,634.50. Following the sale, the director now owns 5,689 shares of the company’s stock, valued at $447,894.97. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.52% of the stock is currently owned by company insiders.

Wynn Resorts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Friday, November 15th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date is Friday, November 15th. Wynn Resorts’s payout ratio is currently 12.33%.

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.