Wynn Resorts FY2024 EPS Estimate Reduced by Seaport Res Ptn

Wynn Resorts, Limited (NASDAQ:WYNNFree Report) – Analysts at Seaport Res Ptn cut their FY2024 earnings per share estimates for shares of Wynn Resorts in a research note issued on Sunday, January 26th. Seaport Res Ptn analyst V. Umansky now anticipates that the casino operator will earn $3.46 per share for the year, down from their previous estimate 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.

Wynn Resorts (NASDAQ:WYNNGet Free Report) 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). The firm had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.73 billion. Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. Wynn Resorts’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.99 EPS.

A number of other brokerages have also recently commented on WYNN. Barclays dropped their price target on Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Susquehanna boosted their target price on Wynn Resorts from $92.00 to $122.00 and gave the stock a “positive” rating in a report on Friday, October 11th. Jefferies Financial Group reduced their price target on Wynn Resorts from $109.00 to $105.00 and set a “hold” rating for the company in a report on Friday, January 3rd. Wells Fargo & Company lowered their price target on Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Wynn Resorts from $101.00 to $113.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Three 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 data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $117.23.

View Our Latest Report on Wynn Resorts

Wynn Resorts Price Performance

NASDAQ:WYNN opened at $84.11 on Tuesday. The firm has a market capitalization of $9.24 billion, a P/E ratio of 10.37, a PEG ratio of 2.52 and a beta of 1.77. Wynn Resorts has a one year low of $71.63 and a one year high of $110.38. The company’s 50-day simple moving average is $88.26 and its 200 day simple moving average is $86.91.

Hedge Funds Weigh In On Wynn Resorts

Institutional investors and hedge funds have recently made changes to their positions in the business. Fisher Asset Management LLC raised its stake in Wynn Resorts by 70.7% during the 3rd quarter. Fisher Asset Management LLC now owns 3,971,846 shares of the casino operator’s stock worth $380,821,000 after acquiring an additional 1,644,965 shares during the period. Holocene Advisors LP raised its holdings in shares of Wynn Resorts by 27,868.5% during the 3rd quarter. Holocene Advisors LP now owns 757,946 shares of the casino operator’s stock worth $72,672,000 after acquiring an additional 755,236 shares in the last quarter. Eagle Asset Management Inc. bought a new position in shares of Wynn Resorts during the 3rd quarter valued at approximately $58,486,000. Weiss Asset Management LP purchased a new position in shares of Wynn Resorts in the third quarter valued at $19,753,000. Finally, Regal Partners Ltd increased its position in Wynn Resorts by 24.0% in the third quarter. Regal Partners Ltd now owns 898,705 shares of the casino operator’s stock worth $86,168,000 after purchasing an additional 174,005 shares during the last quarter. Hedge funds and other institutional investors own 88.64% of the company’s stock.

Wynn Resorts Announces Dividend

The company also recently declared 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 payout ratio is 12.33%.

Wynn Resorts Company Profile

(Get Free Report)

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.

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Earnings History and Estimates for Wynn Resorts (NASDAQ:WYNN)

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