Wynn Resorts (NASDAQ:WYNN) Issues Earnings Results

Wynn Resorts (NASDAQ:WYNN) released its quarterly earnings results on Thursday. The casino operator reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.19), Zacks reports. The business had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.75 billion. Wynn Resorts had a net margin of 6.05% and a negative return on equity of 46.52%.

Here are the key takeaways from Wynn Resorts’ conference call:

• Wynn Las Vegas reported $158.8 million in adjusted property EBITDA, with unfavorable gaming hold reducing results by nearly $24 million and summer softness weighing on the quarter. RevPAR and ADR were each up 3%, while retail lease revenue rose 8%, suggesting demand remained resilient.
• Management said October was strong in Las Vegas and the fourth quarter is benefiting from F1, conventions, and the NFL season; F1 is pacing ahead of last year in rate and occupancy. Group and convention bookings for 2027 are also ahead of the pace for 2025 and 2026 at this point.
• Macau generated $255.3 million in adjusted property EBITDA, including a roughly $12.3 million benefit from above-theoretical VIP hold, but September was soft and volumes declined late in October. Wynn has started construction on the Enclave, theater, and event center, with openings planned for 2028 and early 2029.
• Wynn Al Marjan Island remains on schedule to open in September 2027, but the project budget was raised by $600 million and Wynn estimates its remaining equity requirement, including Janu, at $465 million to $590 million. Management said costs are substantially locked in while noting continued uncertainty from the regional conflict.
• The company reported $4 billion in global cash and revolver availability and continued shareholder returns, including $58.1 million in quarterly share repurchases and a $0.25-per-share dividend. Wynn Macau also approved a $150 million 2026 interim dividend, up from $125 million the prior year.

Wynn Resorts Stock Down 3.7%

Shares of Wynn Resorts stock traded down $3.06 during trading on Thursday, hitting $79.32. 3,752,787 shares of the stock traded hands, compared to its average volume of 1,726,056. The stock has a market cap of $8.17 billion, a price-to-earnings ratio of 19.68, a PEG ratio of 0.95 and a beta of 0.96. Wynn Resorts has a 52 week low of $70.79 and a 52 week high of $134.72. The firm’s fifty day moving average is $81.24 and its 200-day moving average is $98.00.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on WYNN shares. Morgan Stanley cut their price objective on Wynn Resorts from $128.00 to $120.00 and set an “overweight” rating for the company in a report on Monday, October 19th. Argus lifted their target price on shares of Wynn Resorts from $115.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Wolfe Research assumed coverage on shares of Wynn Resorts in a research note on Wednesday, September 2nd. They issued an “outperform” rating and a $128.00 price target for the company. Wells Fargo & Company decreased their price target on shares of Wynn Resorts from $131.00 to $125.00 and set an “overweight” rating on the stock in a report on Monday, October 19th. Finally, The Goldman Sachs Group set a $102.00 price objective on shares of Wynn Resorts in a research report on Tuesday, October 13th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $124.88.

About Wynn Resorts

Wynn Resorts, Ltd. is a developer and operator of luxury integrated resorts, with a focus on destination casinos, hotels, restaurants, entertainment venues, retail, and convention facilities. Its properties are designed to combine gaming with premium hospitality and leisure experiences.

The company operates Wynn Las Vegas and Encore Las Vegas in Nevada, Encore Boston Harbor in Massachusetts, and Wynn Macau and Wynn Palace in Macau. These resorts serve visitors in the United States and international markets, offering accommodations, casino gaming, dining, nightlife, retail, spas, entertainment, and meeting and convention services.

Wynn Resorts was founded in 2002 by casino executive Steve Wynn.