Wynn Resorts Limited [WYNN] Revenue clocked in at $3.76 billion, up 35.20% YTD: What’s Next?

Wynn Resorts Limited [NASDAQ: WYNN] price plunged by -0.18 percent to reach at -$0.2. The company report on May 9, 2023 at 4:02 PM that Wynn Resorts, Limited Reports First Quarter 2023 Results.

Wynn Resorts, Limited (NASDAQ: WYNN) (“Wynn Resorts” or the “Company”) today reported financial results for the first quarter ended March 31, 2023.

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Operating revenues were $1.42 billion for the first quarter of 2023, an increase of $470.3 million, from $953.3 million for the first quarter of 2022. Net income attributable to Wynn Resorts, Limited was $12.3 million for the first quarter of 2023, compared to net loss attributable to Wynn Resorts, Limited of $183.3 million for the first quarter of 2022. Diluted net loss per share was $0.02 for the first quarter of 2023, compared to diluted net loss per share of $1.59 for the first quarter of 2022. Adjusted Property EBITDAR(1) was $429.7 million for the first quarter of 2023, compared to Adjusted Property EBITDAR of $177.6 million for the first quarter of 2022.

A sum of 5038668 shares traded at recent session while its average daily volume was at 2.31M shares. Wynn Resorts Limited shares reached a high of $113.50 and dropped to a low of $108.01 until finishing in the latest session at $111.50.

The one-year WYNN stock forecast points to a potential upside of 10.08. The average equity rating for WYNN stock is currently 2.40, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Wynn Resorts Limited [WYNN]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for WYNN shares is $124.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on WYNN stock is a recommendation set at 2.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Wells Fargo have made an estimate for Wynn Resorts Limited shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on January 03, 2023. While these analysts kept the previous recommendation, JP Morgan raised their target price from $71 to $91. The new note on the price target was released on November 28, 2022, representing the official price target for Wynn Resorts Limited stock. Previously, the target price had yet another raise to $77, while Morgan Stanley analysts kept a Equal-Weight rating on WYNN stock.

The Average True Range (ATR) for Wynn Resorts Limited is set at 3.45, with the Price to Sales ratio for WYNN stock in the period of the last 12 months amounting to 3.33.

WYNN Stock Performance Analysis:

Wynn Resorts Limited [WYNN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.98. With this latest performance, WYNN shares gained by 3.26% in over the last four-week period, additionally plugging by 54.26% over the last 6 months – not to mention a rise of 81.80% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for WYNN stock in for the last two-week period is set at 51.09, with the RSI for the last a single of trading hit 49.96, and the three-weeks RSI is set at 52.19 for Wynn Resorts Limited [WYNN]. The present Moving Average for the last 50 days of trading for this stock 110.39, while it was recorded at 111.20 for the last single week of trading, and 85.83 for the last 200 days.

Insight into Wynn Resorts Limited Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Wynn Resorts Limited [WYNN] shares currently have an operating margin of -6.97 and a Gross Margin at +17.95. Wynn Resorts Limited’s Net Margin is presently recorded at -11.28.

Return on Total Capital for WYNN is now -2.24, given the latest momentum, and Return on Invested Capital for the company is -3.49. Additionally, WYNN Total Debt to Total Capital is recorded at 105.76, with Total Debt to Total Assets ending up at 102.79.

Reflecting on the efficiency of the workforce at the company, Wynn Resorts Limited [WYNN] managed to generate an average of -$15,698 per employee. Receivables Turnover for the company is 18.08 with a Total Asset Turnover recorded at a value of 0.29.Wynn Resorts Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.20 and a Current Ratio set at 2.20.

Wynn Resorts Limited [WYNN] Insider Position Details

There are presently around $9,394 million, or 66.40% of WYNN stock, in the hands of institutional investors. The top three institutional holders of WYNN stocks are: VANGUARD GROUP INC with ownership of 11,132,845, which is approximately -2.555% of the company’s market cap and around 0.30% of the total institutional ownership; PRICE T ROWE ASSOCIATES INC /MD/, holding 8,638,226 shares of the stock with an approximate value of $963.16 million in WYNN stocks shares; and CAPITAL INTERNATIONAL INVESTORS, currently with $894.48 million in WYNN stock with ownership of nearly -0.084% of the company’s market capitalization.

Positions in Wynn Resorts Limited stocks held by institutional investors increased at the end of Tuesday and at the time of the Tuesday reporting period, where 255 institutional holders increased their position in Wynn Resorts Limited [NASDAQ:WYNN] by around 17,633,304 shares. Additionally, 266 investors decreased positions by around 8,392,659 shares, while 87 investors held positions by with 58,227,668 shares. The mentioned changes placed institutional holdings at 84,253,631 shares, according to the latest SEC report filing. WYNN stock had 113 new institutional investments in for a total of 10,046,831 shares, while 73 institutional investors sold positions of 1,067,129 shares during the same period.


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