Q2 2023 EPS Estimates for Wynn Resorts, Limited (NASDAQ:WYNN) Lifted by Jefferies Financial Group

Wynn Resorts, Limited (NASDAQ:WYNN – Get Rating) – Research analysts at Jefferies Financial Group boosted their Q2 2023 earnings estimates for shares of Wynn Resorts in a note issued to investors on Monday, March 13th. Jefferies Financial Group analyst D. Katz now anticipates that the casino operator will post earnings of $0.67 per share for the quarter, up from their previous estimate of $0.61. The consensus estimate for Wynn Resorts’ current full-year earnings is $0.85 per share. Jefferies Financial Group also issued estimates for Wynn Resorts’ Q3 2023 earnings at $0.91 EPS, Q4 2023 earnings at $1.44 EPS, FY2023 earnings at $3.34 EPS and FY2024 earnings at $6.72 EPS.

Wynn Resorts (NASDAQ:WYNN – Get Rating) last released its quarterly earnings data on Wednesday, February 8th. The casino operator reported ($1.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.17) by ($0.06). The firm had revenue of $1 billion for the quarter, compared to analyst estimates of $955.88 million. The company’s revenue was down 4.6% on a year-over-year basis. During the same period in the prior year, the business posted ($1.37) earnings per share.

Several other equities research analysts have also recently issued reports on the stock. StockNews.com raised shares of Wynn Resorts from a “sell” rating to a “hold” rating in a research report on Saturday. Credit Suisse Group boosted their price target on shares of Wynn Resorts from $117.00 to $138.00 and gave the company an “outperform” rating in a research report on Thursday, February 9th. Wells Fargo & Company boosted their price target on shares of Wynn Resorts from $101.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, January 26th. Stifel Nicolaus boosted their price target on shares of Wynn Resorts from $85.00 to $109.00 in a research report on Wednesday, December 7th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Wynn Resorts from $106.00 to $128.00 in a research report on Thursday, February 9th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $107.64.

Wynn Resorts Trading Up 2.0 %

Wynn Resorts stock opened at $108.33 on Tuesday. The stock has a market cap of $12.32 billion, a P/E ratio of -29.36 and a beta of 2.01. The company has a fifty day simple moving average of $103.77 and a 200-day simple moving average of $82.16. Wynn Resorts has a 12-month low of $50.20 and a 12-month high of $116.50.

Insider Transactions at Wynn Resorts

In other Wynn Resorts news, CEO Craig Scott Billings sold 10,310 shares of the company’s stock in a transaction dated Thursday, January 26th. The shares were sold at an average price of $102.35, for a total transaction of $1,055,228.50. Following the transaction, the chief executive officer now directly owns 266,206 shares in the company, valued at $27,246,184.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Wynn Resorts news, CEO Craig Scott Billings sold 10,310 shares of the company’s stock in a transaction dated Thursday, January 26th. The shares were sold at an average price of $102.35, for a total transaction of $1,055,228.50. Following the transaction, the chief executive officer now directly owns 266,206 shares in the company, valued at $27,246,184.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Julie Cameron-Doe sold 4,000 shares of the company’s stock in a transaction dated Wednesday, February 22nd. The stock was sold at an average price of $108.08, for a total transaction of $432,320.00. Following the transaction, the chief financial officer now owns 65,970 shares in the company, valued at $7,130,037.60. The disclosure for this sale can be found here. Insiders have sold a total of 24,693 shares of company stock worth $2,624,279 over the last ninety days. 0.62% of the stock is currently owned by company insiders.

Institutional Trading of Wynn Resorts

Institutional investors and hedge funds have recently modified their holdings of the business. Dupont Capital Management Corp purchased a new stake in shares of Wynn Resorts in the fourth quarter valued at about $25,000. UMB Bank n.a. lifted its holdings in shares of Wynn Resorts by 200.0% in the fourth quarter. UMB Bank n.a. now owns 300 shares of the casino operator’s stock valued at $25,000 after purchasing an additional 200 shares in the last quarter. Hanseatic Management Services Inc. purchased a new stake in shares of Wynn Resorts in the fourth quarter valued at about $36,000. Mine & Arao Wealth Creation & Management LLC. purchased a new stake in shares of Wynn Resorts in the second quarter valued at about $28,000. Finally, Penserra Capital Management LLC lifted its holdings in shares of Wynn Resorts by 62.6% in the third quarter. Penserra Capital Management LLC now owns 504 shares of the casino operator’s stock valued at $31,000 after purchasing an additional 194 shares in the last quarter. Hedge funds and other institutional investors own 70.95% of the company’s stock.

About Wynn Resorts

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Wynn Resorts Ltd. is a holding company, which engages in the design, development, and operation of destination casino resorts. It operates through the following segments: Wynn Palace, Wynn Macau, Las Vegas Operations, Wynn Interactive and Encore Boston Harbor. The company was founded by Stephen Alan Wynn, Elaine P.