Monthly Stock Report: Wynn Resorts, Limited (WYNN)
Publication Date: September 22, 2024
Company Overview
Wynn Resorts, Limited (WYNN), incorporated in 2002 and headquartered in Paradise, Nevada, operates within the Consumer Cyclical sector, specifically in the Casinos & Gaming industry. The company is renowned for designing, developing, and managing luxurious integrated resorts, featuring notable properties such as Wynn Palace and Wynn Macau, alongside operations in Las Vegas and Encore Boston Harbor. Wynn Resorts provides premium gaming, hospitality, and entertainment experiences aimed at high-end clientele, including private gaming salons, upscale accommodations, diverse dining options, and extensive meeting facilities.
Investment Potential and Market Sentiment
The Resorts & Casinos industry presents promising investment opportunities, with the sector currently generating an impressive total revenue of approximately $7.11 billion. This robust financial outlook supports sustained growth potential, especially as the consumer spending landscape recovers post-pandemic. Analysts have set a high target price for WYNN at $145.00, indicating strong confidence in the company’s future performance. With a mean target price of $112.13 from 15 analyst ratings, the consensus recommendation leans towards “buy,” reflecting a favorable sentiment towards entering the Resorts & Casinos market amid conducive travel and leisure recovery trends.
Investors should note that Wynn Resorts currently has 110,992,000 shares outstanding, of which about 4.31% are shorted. This underscores a relatively measured level of bearish sentiment, suggesting that the majority of investors remain optimistic. The current stock price is $79.71, significantly below the high target price, illustrating potential for substantial price appreciation.
Performance Metrics
Wynn Resorts’ stock has seen recent fluctuations, with a fifty-two-week high of $110.38 and a low of $71.63, indicating noteworthy volatility. The current price of $79.71 is above the fifty-day moving average of $78.51, suggesting an upward momentum in short-term trading trends. The stock’s performance metrics, in conjunction with strong revenue figures, indicate a well-established foundation for investor confidence, making it an appealing prospect for those looking to capitalize on favorable market conditions.
Overall, as travel and leisure activities blossom post-pandemic, now presents an advantageous opportunity for investors to consider positions in Wynn Resorts, Limited.
| Metric | Value |
|---|---|
| Market Cap | $8.8b |
| Total Debt | $12.6b |
| Total Cash | $2.9b |
| Shares Outstanding | 111.0m |
| Float Shares | 92.8m |
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