Financial Performance - Operating revenues for Q2 2024 were $1.73 billion, an increase of $137.1 million (8.6%) from $1.60 billion in Q2 2023[3] - Net income attributable to Wynn Resorts for Q2 2024 was $111.9 million, compared to $105.2 million in Q2 2023, representing a 6.4% increase[5] - Diluted net income per share rose to $0.91 in Q2 2024 from $0.84 in Q2 2023, a 8.3% increase[5] - Adjusted Property EBITDAR reached $571.7 million, up $47.2 million (9.0%) from $524.5 million in Q2 2023[5] - Total operating revenues for Q2 2024 reached $1,732,932, an increase of 8.6% compared to $1,595,822 in Q2 2023[21] - Casino revenues increased to $1,008,946 in Q2 2024, up 10.5% from $912,999 in Q2 2023[21] - Net income attributable to Wynn Resorts, Limited for Q2 2024 was $111,943, representing a 6.7% increase from $105,184 in Q2 2023[23] - Adjusted net income attributable to Wynn Resorts, Limited for Q2 2024 was $124,505, a 20.4% increase compared to $103,340 in Q2 2023[23] - Basic net income per share for Q2 2024 was $1.01, up from $0.93 in Q2 2023, reflecting an increase of 8.6%[23] - Total operating expenses for Q2 2024 were $1,463,274, an increase of 8.8% from $1,345,486 in Q2 2023[21] - Operating income for Q2 2024 was $269,658, a 7.7% increase from $250,336 in Q2 2023[21] Revenue by Segment - Wynn Palace's operating revenues increased to $548.0 million, a rise of $79.7 million (17.0%) from $468.4 million in Q2 2023[7] - Wynn Macau's operating revenues were $337.3 million, an increase of $35.7 million (11.8%) from $301.6 million in Q2 2023[8] - Las Vegas Operations generated $628.7 million in operating revenues, up $50.6 million (8.7%) from $578.1 million in Q2 2023[9] - Encore Boston Harbor's operating revenues decreased to $212.6 million, down $9.3 million (4.2%) from $221.9 million in Q2 2023[10] - The operating income for the total Macau operations was $367,918 for the six months ended June 30, 2024, compared to $168,821 in 2023, reflecting a significant increase of 118.5%[27] Operational Metrics - The average occupancy rate for Wynn Resorts was 98.9% for both the three and six months ended June 30, 2024, compared to 96.5% and 92.2% in 2023, respectively[31] - The occupancy rate for Encore Boston Harbor improved to 96.5% in Q2 2024 from 92.7% in Q2 2023[39] - The company reported a provision for income taxes of $7,935 in Q2 2024, compared to $4,305 in Q2 2023[21] Future Outlook and Strategic Initiatives - The company plans to continue expanding its market presence and investing in new technologies to enhance customer experience[21] - Future outlook includes a projected revenue growth of A% for the next quarter, driven by increased demand in key markets[6] - Wynn Resorts is focusing on new product development, with plans to launch B new gaming technologies by the end of the fiscal year[6] - The company is expanding its market presence, targeting C new locations for potential development in the upcoming year[6] - Wynn Resorts is considering strategic acquisitions to enhance its portfolio, with D potential targets identified[6] - The company aims to improve operational efficiency, targeting a reduction in operating costs by E% over the next fiscal year[6] - Wynn Resorts plans to invest F million in technology upgrades to enhance customer experience and operational capabilities[6] - Wynn Resorts is committed to sustainability initiatives, with plans to reduce carbon emissions by I% over the next five years[6] Cash and Dividends - The company announced a cash dividend of $0.25 per share, payable on August 30, 2024[6]

Group 1 - Wynn Resorts is expected to report Q3 earnings of $1.14 per share, an increase from $0.91 per share in the same period last year [1] - The company projects quarterly revenue of $1.75 billion, up from $1.54 billion a year ago [1] - Morgan Stanley analyst Stephen Grambling has maintained an Equal-Weight rating on Wynn Resorts and lowered the price target from $115 to $107 [1] Group 2 - Wynn Resorts currently offers an annual dividend yield of 1.36%, translating to a quarterly dividend of $0.25 per share, or $1.00 annually [1] - To earn $500 monthly from dividends, an investment of approximately $441,300 or around 6,000 shares is required [2] - For a more modest income of $100 monthly, an investment of $88,260 or around 1,200 shares is needed [2] Group 3 - The dividend yield is calculated by dividing the annual dividend payment by the stock's current price, which can fluctuate [3] - If a stock's price increases, the dividend yield decreases, and vice versa [3] - Wynn Resorts shares fell 4.2% to close at $73.55 on Monday [3]

Shares of Wynn Resorts, Limited (NASDAQ:WYNN) are 4.4% lower at $79.22 at last check, pulling back from yesterday's bounce that followed the casino operators better-than-expected results for the second quarter. On the charts, WYNN's 20-day moving average has steadily guided it lower since it touched an annual high of $110.38 on April 4. The security is now trading at its lowest levels since November 2022, down 13.1% in 2024. Plus, seasonality suggests the shares are going to drop even more.According to data ...

Core Viewpoint - Wynn Resorts Ltd. shares have declined 4.7% year-to-date, trading closer to its 52-week lows, while the S&P 500 index has risen 16.69% YTD, presenting a potential buying opportunity for investors [1] Group 1: Market Conditions - The closure of Tropicana and Mirage in Las Vegas will reduce room capacity by nearly 5%, potentially increasing demand for existing hotels like Wynn [2] - Investor sentiment in Las Vegas remains low due to rising labor costs and macroeconomic uncertainty, but average daily room rates are increasing, indicating room for growth as occupancy has not yet returned to pre-pandemic levels [3] - Macau's gross gaming revenue rose 16.4% YoY to $2.5 billion in May 2024, with a 41.9% YoY increase for the first half of 2024, reaching 74% of its 2019 pre-pandemic level [4] Group 2: Strategic Developments - Wynn Resorts is advancing plans for a hotel-casino in Ras Al Khaimah, UAE, where gambling laws are softening, with projected gross gaming revenue of $1.38 billion and net revenue of $1.8 billion [5] - Analysts have upgraded WYNN shares following a strong Q1 2024 performance, with EPS of $1.59 and revenues of $1.86 billion, leading to a consensus rating of "Moderate Buy" [6] Group 3: Technical Analysis - WYNN stock is forming a bullish shark pattern, with potential upside targets of $99.06 and $110.38, indicating a possible rebound in stock price [7]

The Grand Lisboa and Wynn casino, Macau, China. (Photo by: Bob Henry/UCG/Universal Images Group via ... [+] Getty Images)UCG/Universal Images Group via Getty ImagesWynn stock currently trades at $92 per share, roughly 34% below its pre-inflation shock high of $140 seen on March 17, 2021. The stock was impacted by the Macau operations, which saw business largely collapse over 2021 and 2022, due to stringent Covid-19 restrictions which hurt tourist inflows into the region. Now the situation in the Macau gamin ...

Core Viewpoint - Wynn Resorts, Limited (NASDAQ:WYNN) shares are currently down 7.9% this quarter and are approaching a seasonal decline, which could further impact stock prices [1][6]. Stock Performance - Wynn Resorts shares are 1.1% lower at $93.84, significantly below the nearly 52-week high of $110.38 reached on April 4 [1]. - Over the past decade, Wynn has averaged a loss of 3.1% in June, finishing lower in seven out of ten years [4]. Analyst Ratings and Price Targets - Among 14 analysts covering Wynn, 10 recommend a "strong buy" rating, indicating optimism despite current performance [5]. - The 12-month consensus price target for Wynn is $124.935, representing a 32.7% premium to current levels [5]. Options Market Activity - Wynn Resorts has a 50-day call/put volume ratio of 5.89, ranking higher than 98% of readings from the past year, suggesting a bullish sentiment in the options market [6]. - The Schaeffer's Volatility Index (SVI) for Wynn is at 25%, placing it in the low 7th percentile of the last 12 months, indicating low volatility expectations [6].

Wynn Resorts, Limited (WYNN) will likely benefit from solid Macau performance, non-gaming businesses and development projects. Also, focus on strategic expansion plans bodes well. However, increased operating expenses are a concern.Let us discuss the factors that highlight why investors should retain the stock.Factors Likely to Drive GrowthWynn Resorts has been benefitting from solid Macau performance. Following the elimination of COVID-19 protective measures by Macau authorities in January 2023, visitation ...

Core Insights - Zacks Premium provides various tools for investors to enhance their stock market engagement and confidence [1] - The Zacks Style Scores are designed to help investors select stocks with the highest potential to outperform the market in the short term [2] Zacks Style Scores Overview - The Style Scores categorize stocks into four types: Value Score, Growth Score, Momentum Score, and VGM Score, each focusing on different investment strategies [2][3][4] - Value Score identifies undervalued stocks using financial ratios like P/E and Price/Sales [2] - Growth Score assesses a company's future earnings and financial health to find sustainable growth opportunities [3] - Momentum Score evaluates price trends and earnings outlook to identify favorable buying opportunities [3] - VGM Score combines all three styles to highlight stocks with the best overall characteristics [4] Zacks Rank and Its Importance - The Zacks Rank is a proprietary model that uses earnings estimate revisions to guide investors in stock selection [5] - Stocks rated 1 (Strong Buy) have historically achieved an average annual return of +25.41%, significantly outperforming the S&P 500 [5] - A total of over 800 stocks are rated, making it essential for investors to utilize Style Scores alongside the Zacks Rank for optimal stock selection [6] Stock Highlight: Wynn Resorts (WYNN) - Wynn Resorts, a leading casino resort operator, is currently rated 3 (Hold) with a VGM Score of A [8] - The company has a strong Momentum Style Score of A, with a recent share price increase of 0.1% over the past four weeks [8] - Analysts have raised earnings estimates for WYNN, with the Zacks Consensus Estimate increasing by $0.26 to $5.58 per share, and an average earnings surprise of 46.4% [8][9]

Wynn Resorts, Limited (WYNN) reported impressive first-quarter 2024 results, with earnings and revenues surpassing the Zacks Consensus Estimate. Also, the top and the bottom line rose year over year.During the quarter, the company reported strong performance in non-gaming businesses, with 16% year-on-year revenue growth. The upside was primarily driven by a 21% increase in hotel revenues and healthy casino volumes. In Las Vegas, WYNN’s emphasis on superior service, continuous property reinvestment and exclu ...

For the quarter ended March 2024, Wynn Resorts (WYNN) reported revenue of $1.86 billion, up 30.9% over the same period last year. EPS came in at $1.59, compared to $0.29 in the year-ago quarter. The reported revenue compares to the Zacks Consensus Estimate of $1.77 billion, representing a surprise of +5.05%. The company delivered an EPS surprise of +11.19%, with the consensus EPS estimate being $1.43. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how ...