Seaport Res Ptn Expects Reduced Earnings for Wynn Resorts

Wynn Resorts, Limited (NASDAQ:WYNN) – Equities research analysts at Seaport Res Ptn decreased their Q4 2024 EPS estimates for Wynn Resorts in a research report issued on Sunday, January 26th. Seaport Res Ptn analyst V. Umansky now expects that the casino operator will earn $1.33 per share for the quarter, down from their prior estimate of $1.52. The consensus estimate for Wynn Resorts’ current full-year earnings is $4.75 per share. Seaport Res Ptn also issued estimates for Wynn Resorts’ FY2025 earnings at $4.82 EPS and FY2026 earnings at $8.98 EPS.

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

A number of other research firms have also recently issued reports on WYNN. Wells Fargo & Company decreased their target price on Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lowered their target price on Wynn Resorts from $122.00 to $118.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Susquehanna lifted their price target on shares of Wynn Resorts from $92.00 to $122.00 and gave the company a “positive” rating in a research note on Friday, October 11th. Jefferies Financial Group reduced their price target on shares of Wynn Resorts from $109.00 to $105.00 and set a “hold” rating for the company in a report on Friday, January 3rd. Finally, JPMorgan Chase & Co. boosted 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 analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Wynn Resorts currently has an average rating of “Moderate Buy” and an average price target of $117.23.

Wynn Resorts Price Performance

Shares of NASDAQ:WYNN opened at $84.11 on Wednesday. The firm’s 50 day simple moving average is $88.26 and its 200 day simple moving average is $86.91. Wynn Resorts has a fifty-two week low of $71.63 and a fifty-two week high of $110.38. The company has a market capitalization of $9.24 billion, a price-to-earnings ratio of 10.37, a P/E/G ratio of 2.52 and a beta of 1.77.

Wynn Resorts Dividend Announcement

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

Institutional Trading of Wynn Resorts

Large investors have recently made changes to their positions in the company. Fisher Asset Management LLC grew its position in Wynn Resorts by 70.7% in the 3rd quarter. Fisher Asset Management LLC now owns 3,971,846 shares of the casino operator’s stock valued at $380,821,000 after purchasing an additional 1,644,965 shares during the period. Holocene Advisors LP lifted its stake in shares of Wynn Resorts by 27,868.5% in the third quarter. Holocene Advisors LP now owns 757,946 shares of the casino operator’s stock valued at $72,672,000 after buying an additional 755,236 shares in the last quarter. Eagle Asset Management Inc. bought a new position in Wynn Resorts in the 3rd quarter valued at about $58,486,000. Weiss Asset Management LP acquired a new position in Wynn Resorts during the 3rd quarter valued at about $19,753,000. Finally, Regal Partners Ltd increased its holdings in Wynn Resorts by 24.0% during the 3rd 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 in the last quarter. 88.64% of the stock is currently owned by institutional investors and hedge funds.

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.