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Valued at a market cap of around $9.1 billion, Wynn Resorts, Limited (WYNN) is a premier designer and operator of integrated luxury resorts. With its roots in Las Vegas, Wynn Resorts combines high-end entertainment, exquisite retail, and world-class accommodations to create unforgettable experiences across the globe. The company is expected to disclose its fiscal Q2 earnings results on Thursday, August 14.
Ahead of this event, analysts expect the company to report a profit of $1.23 per share, up 35.2% from $0.91 per share in the year-ago quarter. The company holds an impressive track record of exceeding Wall Street’s bottom-line estimates in each of the last four quarters. In its latest earnings release, the company’s adjusted EPS of $1.59 soared a staggering 448.3% annually, sailing past the consensus estimates by a solid 11.2% margin.
Over the longer term, analysts project WYNN to report EPS of $5.62 in fiscal 2024, up 37.1% from $4.10 recorded in fiscal 2023. Looking ahead to fiscal 2025, analysts anticipate EPS to jump another 5.5% year over year to $5.93.
Shares of Wynn Resorts have slumped 26.2% over the past 52 weeks, trailing behind the broader S&P 500 Index’s ($SPX) 18.2% return over the same time frame. Additionally, WYNN stock has also lagged behind the Global Cons Disc iShares ETF’s (RXI) marginal gain during this period.
Shares of Wynn Resorts soared marginally after the stock reported its Q1 earnings results on May 7, which blew past Wall Street’s forecasts on both the top and bottom lines. The casino powerhouse reported a wonderful 31% year-over-year jump in operating revenue, reaching $1.86 billion in Q1.
Plus, Wynn Resorts saw its business momentum from fiscal 2023 carry into Q1 of fiscal 2024, setting a new record for adjusted property EBITDAR of $646.5 million. The company attributes this success to its strategic investments in properties, teams, and distinctive programming, which have solidified its leadership across various markets and contributed to the positive market sentiment toward the stock.
Meanwhile, analysts' consensus rating on WYNN stock is highly bullish, with a "Strong Buy" rating overall. Out of 14 analysts covering the stock, opinions include 11 "Strong Buys” and three "Holds."
The above consensus is slightly more bullish than three months ago, with nine “Strong Buy” ratings on the stock. The average analyst price target for WYNN is $120.50, suggesting a notable potential upside of 49.7% from the current levels.
On the date of publication, Anushka Mukherjee did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
