Wynn Resorts Ltd. [NASDAQ: WYNN] slipped around -0.23 points on Wednesday, while shares priced at $99.83 at the close of the session, down -0.23%. The company report on February 7, 2024 at 4:02 PM that Wynn Resorts, Limited Reports Fourth Quarter and Year End 2023 Results.
Wynn Resorts, Limited (NASDAQ: WYNN) (“Wynn Resorts” or the “Company”) today reported financial results for the fourth quarter ended December 31, 2023.
Operating revenues were $1.84 billion for the fourth quarter of 2023, an increase of $835.5 million from $1.00 billion for the fourth quarter of 2022. Net income attributable to Wynn Resorts, Limited was $729.2 million for the fourth quarter of 2023, compared to net income attributable to Wynn Resorts, Limited of $32.4 million for the fourth quarter of 2022. The increase in net income attributable to Wynn Resorts, Limited was primarily the result of increased operating revenues from our Macau Operations and our Las Vegas Operations, as well as an income tax benefit related to the release of valuation allowance on certain deferred tax assets as a result of achieving sustained profitability in the U.S. Diluted net income per share was $6.19 for the fourth quarter of 2023, compared to diluted net income per share of $0.29 for the fourth quarter of 2022. Adjusted Property EBITDAR(1) was $630.4 million for the fourth quarter of 2023, compared to Adjusted Property EBITDAR of $195.1 million for the fourth quarter of 2022.
Compared to the average trading volume of 2.33M shares, WYNN reached a trading volume of 3533571 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Wynn Resorts Ltd. [WYNN]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for WYNN shares is $113.69 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 1.72. 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.
Macquarie have made an estimate for Wynn Resorts Ltd. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on January 17, 2024.
The Average True Range (ATR) for Wynn Resorts Ltd. is set at 2.46, with the Price to Sales ratio for WYNN stock in the period of the last 12 months amounting to 1.98. Price to Free Cash Flow for WYNN in the course of the last twelve months was 23.34 with Quick ratio for the last quarter at 2.61.
How has WYNN stock performed recently?
Wynn Resorts Ltd. [WYNN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.72. With this latest performance, WYNN shares gained by 2.86% in over the last four-week period, additionally sinking by -3.14% over the last 6 months – not to mention a drop of -3.02% 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 64.95, with the RSI for the last a single of trading hit 68.61, and the three-weeks RSI is set at 62.27 for Wynn Resorts Ltd. [WYNN]. The present Moving Average for the last 50 days of trading for this stock 91.43, while it was recorded at 98.33 for the last single week of trading, and 97.37 for the last 200 days.
Wynn Resorts Ltd. [WYNN]: Deeper insight into the fundamentals
Wynn Resorts Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.61 and a Current Ratio set at 2.66.
Earnings analysis for Wynn Resorts Ltd. [WYNN]
With the latest financial reports released by the company, Wynn Resorts Ltd. posted -1.23/share EPS, while the average EPS was predicted by analysts to be reported at -0.91/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -35.20%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for WYNN.
Insider trade positions for Wynn Resorts Ltd. [WYNN]
The top three institutional holders of WYNN stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in WYNN stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in WYNN stock with ownership which is approximately 5.8325%.
