Wynn Resorts, Limited (NASDAQ:WYNN) – Jefferies Financial Group cut its second quarter 2022 earnings per share estimate for Wynn Resorts shares in a report released Friday, January 21. Jefferies Financial Group analyst D. Katz now expects the casino operator to post earnings per share of $0.50 for the quarter, down from its previous forecast of $0.61. Jefferies Financial Group also released Wynn Resorts Q3 2022 earnings estimates at $0.19 EPS, Q4 2022 earnings at $0.49 EPS, Q1 2023 earnings at $0.94 EPS, earnings 2023 Q2 earnings at $1.33 EPS, 2023 Q3 earnings at $1.12 EPS, and 2023 fiscal year earnings at $4.64 EPS. Wynn Resorts Inc (NASDAQ:WYNN) last reported results on Tuesday, November 9. The casino operator reported ($1.24) EPS for the quarter, missing analyst consensus estimates of ($1.17) by ($0.07). The company posted revenue of $994.64 million for the quarter, versus $987.11 million expected by analysts. In the same period a year earlier, the company had earned earnings per share of $7.04.
Other analysts have also recently published research reports on the stock. Stifel Nicolaus raised his price target on Wynn Resorts shares from $107.00 to $124.00 and gave the company a “buy” rating in a Wednesday, November 10 research report. Goldman Sachs Group cut its price target on Wynn Resorts from $102.00 to $91.00 and set a “neutral” rating on the stock in a Wednesday, Dec. 15 report. Morgan Stanley raised its price target on Wynn Resorts from $107.00 to $114.00 and gave the stock an “overweight” rating in a Wednesday, Nov. 10, report. Wells Fargo & Company cut its price target on Wynn Resorts from $101.00 to $93.00 and set an “equal weight” rating on the stock in a Friday, Jan. 7 report. Finally, JPMorgan Chase & Co. raised its price target on Wynn Resorts from $89.00 to $101.00 and gave the stock a “neutral” rating in a Wednesday, November 10 report. Nine equity research analysts gave the stock a hold rating and three gave the company a buy rating. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $111.71.
Shares of Wynn Resorts opened at $85.65 on Monday. The company has a 50-day moving average of $86.80 and a 200-day moving average of $92.22. Wynn Resorts has a 1-year minimum of $76.03 and a 1-year maximum of $143.88. The company has a market capitalization of $9.91 billion, a P/E ratio of -11.18 and a beta of 2.41.
Hedge funds have recently been buying and selling shares of the company. Daiwa Securities Group Inc. increased its position in Wynn Resorts shares by 2.1% during the third quarter. Daiwa Securities Group Inc. now owns 5,669 shares of the casino operator valued at $480,000 after acquiring 114 additional shares in the last quarter. Capital Management Associates NY increased its position in Wynn Resorts shares by 1.0% during the second quarter. Capital Management Associates NY now owns 11,840 shares of the casino operator valued at $1,448,000 after acquiring 120 additional shares in the last quarter. Steward Partners Investment Advisory LLC increased its position in Wynn Resorts shares by 12.3% during the second quarter. Steward Partners Investment Advisory LLC now owns 1,212 shares of the casino operator valued at $148,000 after acquiring 133 additional shares in the last quarter. DNB Asset Management AS increased its position in Wynn Resorts shares by 1.0% during the 4th quarter. DNB Asset Management AS now owns 12,953 shares of the casino operator valued at $1,102,000 after acquiring an additional 134 shares in the last quarter. Finally, Crewe Advisors LLC increased its position in Wynn Resorts shares by 100.0% during the 3rd quarter. Crewe Advisors LLC now owns 300 shares of the casino operator worth $25,000 after acquiring an additional 150 shares in the last quarter. 63.07% of the shares are held by institutional investors and hedge funds.
Separately, director Betsy S. Atkins sold 4,095 shares of Wynn Resorts in a trade dated Wednesday, Dec. 8. The stock was sold at an average price of $87.80, for a total value of $359,541.00. The sale was disclosed in a filing with the Securities & Exchange Commission, available on the SEC’s website. Additionally, director Patricia Mulroy sold 400 shares of Wynn Resorts in a trade dated Thursday, November 11. The stock was sold at an average price of $92.17, for a total value of $36,868.00. The disclosure of this sale can be found here. In the past ninety days, insiders have sold 44,495 shares of the company valued at $4,034,609. Insiders own 0.62% of the shares of the company.
About Wynn Hotels
Wynn Resorts Ltd. is a holding company engaged in the design, development and operation of destination resort casinos. It operates through the following segments: Wynn Palace, Wynn Macau, Las Vegas Operations and Encore Boston Harbor. The company was founded by Stephen Alan Wynn, Elaine P. Wynn and Kazuo Okada in 2002 and is based in Las Vegas, NV.
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