Jefferies Financial Group Analysts Reduce Earnings Estimates for Wynn Resorts, Limited (NASDAQ:WYNN)

Wynn Resorts, Limited (NASDAQ:WYNNGet Rating) – Research analysts at Jefferies Financial Group decreased their Q4 2022 earnings per share estimates for Wynn Resorts in a note issued to investors on Thursday, November 10th. Jefferies Financial Group analyst D. Katz now expects that the casino operator will earn ($0.85) per share for the quarter, down from their previous estimate of $0.40. Jefferies Financial Group has a “Buy” rating on the stock. The consensus estimate for Wynn Resorts’ current full-year earnings is ($4.18) per share. Jefferies Financial Group also issued estimates for Wynn Resorts’ Q1 2023 earnings at $0.02 EPS, Q2 2023 earnings at $0.18 EPS, Q4 2023 earnings at $0.72 EPS, FY2023 earnings at $1.20 EPS and FY2024 earnings at $2.16 EPS.

Wynn Resorts (NASDAQ:WYNNGet Rating) last released its quarterly earnings data on Wednesday, November 9th. The casino operator reported ($1.20) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($1.20). The business had revenue of $889.70 million during the quarter, compared to analysts’ expectations of $867.42 million. The company’s revenue was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.24) EPS.

WYNN has been the topic of several other research reports. Citigroup upped their target price on Wynn Resorts from $87.50 to $91.00 and gave the company a “buy” rating in a report on Monday, September 26th. Credit Suisse Group raised Wynn Resorts from a “neutral” rating to an “outperform” rating and set a $117.00 target price on the stock in a report on Thursday, September 15th. Deutsche Bank Aktiengesellschaft lowered their target price on Wynn Resorts from $92.00 to $85.00 and set a “buy” rating on the stock in a report on Wednesday, August 10th. Wells Fargo & Company lowered their target price on Wynn Resorts from $77.00 to $74.00 and set an “equal weight” rating on the stock in a report on Thursday. Finally, StockNews.com began coverage on Wynn Resorts in a research note on Wednesday, October 12th. They set a “sell” rating on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $96.31.

Wynn Resorts Stock Performance

Wynn Resorts stock opened at $77.98 on Monday. The firm has a market capitalization of $8.84 billion, a price-to-earnings ratio of -14.08 and a beta of 1.91. Wynn Resorts has a fifty-two week low of $50.20 and a fifty-two week high of $99.00. The stock’s fifty day moving average is $63.64 and its two-hundred day moving average is $62.67.

Institutional Trading of Wynn Resorts

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of Wynn Resorts by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 11,054,684 shares of the casino operator’s stock worth $881,500,000 after purchasing an additional 113,816 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Wynn Resorts by 0.6% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 9,234,491 shares of the casino operator’s stock worth $526,181,000 after purchasing an additional 55,311 shares during the period. BlackRock Inc. raised its holdings in shares of Wynn Resorts by 0.4% in the 1st quarter. BlackRock Inc. now owns 6,846,725 shares of the casino operator’s stock worth $545,957,000 after purchasing an additional 30,460 shares during the period. Invesco Ltd. raised its holdings in shares of Wynn Resorts by 3.8% in the 1st quarter. Invesco Ltd. now owns 1,282,504 shares of the casino operator’s stock worth $102,267,000 after purchasing an additional 46,467 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Wynn Resorts by 3.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 790,052 shares of the casino operator’s stock worth $62,999,000 after purchasing an additional 24,227 shares during the period. 64.69% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Wynn Resorts news, Director Patricia Mulroy sold 2,000 shares of the firm’s stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $66.14, for a total value of $132,280.00. Following the sale, the director now directly owns 6,781 shares of the company’s stock, valued at approximately $448,495.34. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.62% of the stock is owned by corporate insiders.

Wynn Resorts Company Profile

(Get Rating)

Wynn Resorts, Limited designs, develops, and operates integrated resorts. Its Wynn Palace segment operates 424,000 square feet of casino space with 323 table games, 1,035 slot machines, private gaming salons, and sky casinos; a luxury hotel tower with 1,706 guest rooms, suites, and villas, including a health club, spa, salon, and pool; 14 food and beverage outlets; 107,000 square feet of retail space; 37,000 square feet of 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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