Wynn Resorts, Limited’s Stock Price Soars to $97.62, Marking a Robust 7.24% Uptick

Wynn Resorts, Limited (WYNN)

97.62 USD +6.59 (+7.24%) Volume: 11.15M

Wynn Resorts, Limited’s stock price has shown a promising performance, currently trading at 97.62 USD, marking a significant rise of +7.24% this trading session. With a robust trading volume of 11.15M and a positive year-to-date change of +7.15%, WYNN’s stock continues to attract investors.

Latest developments on Wynn Resorts, Limited

Wynn Resorts has been making headlines recently with various events impacting its stock price. The announcement of an executive leadership transition, along with an upgraded recommendation and a China stimulus package, has led to a rise in Wynn Resorts‘ shares. Analysts have been bullish on the stock, with Morgan Stanley upgrading it to ‘overweight’ and raising its price target. The optimism surrounding China’s stimulus moves has also boosted casino stocks like Wynn Resorts and Las Vegas Sands. With strong performance and positive news, Wynn Resorts continues to attract investors and push higher in the market.

Wynn Resorts, Limited on Smartkarma

Analysts at Baptista Research have provided bullish coverage on Wynn Resorts, highlighting the company’s strong performance in the second quarter of 2024. The company reported record earnings before interest, taxes, depreciation, amortization, and restructuring or rent costs (EBITDAR) of $572 million, marking its strongest second quarter to date. With strategic developments in key markets such as Macau, Boston, and the UAE, Wynn Resorts is poised for continued growth and success.

In another report by Baptista Research, analysts focused on Wynn Resorts‘ operations in Macau during the first quarter of 2024. The company achieved an all-time record property EBITDAR of $647 million, showcasing the effectiveness of its team in delivering exceptional service and experiences to guests. This positive momentum underscores Wynn Resorts‘ position as a leading player in the global hospitality and gaming industry, attracting potential investors seeking opportunities for long-term growth.

A look at Wynn Resorts, Limited Smart Scores

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

Wynn Resorts, Limited shows a promising long-term outlook based on the Smartkarma Smart Scores. With high scores in Growth and Resilience, the company is positioned well for future success. The strong Growth score indicates potential for expansion and increased profitability, while the top Resilience score suggests the company’s ability to withstand economic downturns and challenges.

Although Wynn Resorts scores low in Value, the overall positive outlook is bolstered by solid scores in Dividend and Momentum. The company’s ability to provide dividends to shareholders and maintain positive momentum in its operations bodes well for its future performance. With a diverse portfolio of luxury hotels and destination casino resorts, Wynn Resorts is poised to continue its success in the hospitality and entertainment industry.

Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
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