Wynn Resorts Limited (NASDAQ: WYNN) stock jumped 2.92% on Friday to $66.29 against a previous-day closing price of $64.41. With 2.04 million shares changed hands, the volume of the stock remained lighter than its average volume of 3.28 million shares. During the session, the Resorts & Casinos company that operates in wider Consumer Cyclical sector, reached to the highest price of $66.67 whereas the lowest price it dropped to was $65.00. The 52-week range on WYNN shows that it touched its highest point at $107.44 and its lowest point at $50.20 during that stretch. It currently has a 1-year price target of $83.77. Beta for the stock currently stands at 2.18.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of WYNN was up-trending over the past week, with a rise of 4.74%, but this was up by 14.71% over a month. Three-month performance dropped to -7.53% while six-month performance fell -24.83%. The stock lost -30.28% in the past year, while it has lost -22.05% so far this year. A look at the trailing 12-month EPS for WYNN yields -5.73 with Next year EPS estimates of 0.86. For the next quarter, that number is -1.02. This implies an EPS growth rate of 65.70% for this year and 229.50% for next year.
Float and Shares Shorts:
At present, 115.03 million WYNN shares are outstanding with a float of 105.68 million shares on hand for trading. On Jul 14, 2022, short shares totaled 10.59 million, which was 9.13% higher than short shares on Jun 14, 2022. In addition to Mr. Craig Scott Billings as the firm’s CEO, Treasurer & Director, Ms. Ellen F. Whittemore serves as its Exec. VP, Gen. Counsel & Sec.
Through their ownership of 61.81% of WYNN’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 36.01% of WYNN, in contrast to 26.07% held by mutual funds. Shares owned by individuals account for 22.04%. As the largest shareholder in WYNN with 9.18% of the stake, The Vanguard Group, Inc. holds 10,641,777 shares worth 10,641,777. A second-largest stockholder of WYNN, T. Rowe Price Associates, Inc., holds 9,179,180 shares, controlling over 7.92% of the firm’s shares. Capital Research & Management Co is the third largest shareholder in WYNN, holding 5,885,860 shares or 5.08% stake. With a 6.04% stake in WYNN, the Washington Mutual Investors Fund is the largest stakeholder. A total of 7,000,000 shares are owned by the mutual fund manager. The T Rowe Price Growth Stock Fund, which owns about 3.63% of WYNN stock, is the second-largest Mutual Fund holder. It holds 4,214,660 shares valued at 240.15 million. Vanguard Total Stock Market Index holds 2.65% of the stake in WYNN, owning 3,076,124 shares worth 175.28 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for WYNN since 15 analysts follow the stock currently. There are 4 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 9 believe that the stock is worth HOLDING, 2 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With WYNN analysts setting a high price target of $112.00 and a low target of $56.00, the average target price over the next 12 months is $83.29. Based on these targets, WYNN could surge 68.95% to reach the target high and fall by -15.52% to reach the target low. Reaching the average price target will result in a growth of 25.64% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. WYNN will report FY 2022 earnings on 01/25/2023. Analysts have provided yearly estimates in a range of -$3.01 being high and -$5.15 being low. For WYNN, this leads to a yearly average estimate of -$3.86. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Wynn Resorts Limited surprised analysts by -$0.04 when it reported -$1.21 EPS against a consensus estimate of -$1.17. The surprise factor in the prior quarter was -$0.14. Based on analyst estimates, the high estimate for the next quarter is -$0.66 and the low estimate is -$2.03. The average estimate for the next quarter is thus -$1.11.
Dividends & Yield:
In terms of dividends, WYNN has a dividend of $2.6 is likely to be paid on average over the next five years. Dividend yield is another indicator that appeals to many investors, and WYNN currently yields $0.76. In the past year, WYNN’s dividend yield has been $0.76, but when looking at the stock over the past five years, its yield has been $2.33. Accordingly, WYNN has a current buyback yield of $0.21. This was $0.21 for the TTM, and it was $0.39 for the past five years.
Summary of Insider Activity:
Insiders traded WYNN stock several times over the past three months with 12 Buys and 1 Sells. In these transactions, 34,838 shares were bought while 394 shares were sold. The number of buy transactions has increased to 20 while that of sell transactions has risen to 25 over the past year. The total number of shares bought during that period was 285,631 while 238,337 shares were sold.