Seaport Res Ptn Equities Analysts Lift Earnings Estimates for Wynn Resorts, Limited (NASDAQ:WYNN)

Wynn Resorts, Limited (NASDAQ:WYNN) – Research analysts at Seaport Res Ptn lifted their Q2 2024 earnings per share estimates for Wynn Resorts in a research note issued on Wednesday, June 26th. Seaport Res Ptn analyst V. Umansky now anticipates that the casino operator will post earnings per share of $1.05 for the quarter, up from their previous estimate of $1.00. Seaport Res Ptn has a “Strong-Buy” rating on the stock. The consensus estimate for Wynn Resorts’ current full-year earnings is $5.59 per share. Seaport Res Ptn also issued estimates for Wynn Resorts’ Q3 2024 earnings at $1.02 EPS and Q4 2024 earnings at $1.42 EPS.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings results on Tuesday, May 7th. The casino operator reported $1.59 EPS for the quarter, topping the consensus estimate of $1.43 by $0.16. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.80 billion. Wynn Resorts had a net margin of 12.36% and a negative return on equity of 46.04%. The firm’s revenue was up 30.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.29 EPS.

Several other analysts have also recently commented on the company. Morgan Stanley boosted their price target on Wynn Resorts from $107.00 to $114.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Argus raised shares of Wynn Resorts from a “hold” rating to a “buy” rating and set a $110.00 price target on the stock in a research note on Thursday, May 23rd. Mizuho initiated coverage on shares of Wynn Resorts in a research note on Thursday, April 4th. They set a “buy” rating and a $131.00 price objective for the company. Wells Fargo & Company raised their target price on shares of Wynn Resorts from $125.00 to $128.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 8th. Finally, Stifel Nicolaus increased their price target on Wynn Resorts from $135.00 to $138.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $121.31.

Wynn Resorts Trading Up 1.1 %

NASDAQ:WYNN opened at $89.14 on Thursday. The stock has a 50 day moving average of $93.91 and a two-hundred day moving average of $96.76. Wynn Resorts has a 12 month low of $81.65 and a 12 month high of $112.25. The firm has a market cap of $9.99 billion, a P/E ratio of 12.21 and a beta of 1.85.

Wynn Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Monday, May 20th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.12%. The ex-dividend date was Friday, May 17th. Wynn Resorts’s payout ratio is 13.70%.

Insider Buying and Selling at Wynn Resorts

In other Wynn Resorts news, Director Betsy S. Atkins sold 2,446 shares of the 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 sale, the director now directly owns 9,226 shares of the company’s stock, valued at approximately $870,842.14. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.52% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Blue Trust Inc. increased its stake in Wynn Resorts by 3,000.0% in the fourth quarter. Blue Trust Inc. now owns 279 shares of the casino operator’s stock valued at $25,000 after purchasing an additional 270 shares during the last quarter. ICA Group Wealth Management LLC purchased a new stake in Wynn Resorts in the fourth quarter valued at $27,000. Sunbelt Securities Inc. boosted its stake in Wynn Resorts by 4,285.7% in the third quarter. Sunbelt Securities Inc. now owns 307 shares of the casino operator’s stock valued at $28,000 after acquiring an additional 300 shares in the last quarter. Register Financial Advisors LLC purchased a new stake in Wynn Resorts in the first quarter valued at approximately $37,000. Finally, GAMMA Investing LLC purchased a new position in shares of Wynn Resorts during the fourth quarter worth approximately $38,000. Hedge funds and other institutional investors own 68.87% of the company’s stock.

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.