Wynn Resorts' Q3 Performance Misses Expectations Amid Strategic Investments
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 05 2024
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Source: Benzinga
Wynn Resorts Financial Performance: Wynn Resorts reported disappointing third-quarter results, with operating revenues of $1.69 billion and adjusted EPS of $0.90, both missing analyst expectations. The company experienced declines in adjusted Property EBITDAR across its properties, particularly at Wynn Palace and Las Vegas operations.
Share Repurchase Program: Wynn announced a new share repurchase program allowing for up to $1.00 billion in buybacks, following the repurchase of $117.7 million worth of shares in Q3 2024. As of September 30, 2024, the company had $2.41 billion in cash and equivalents.
Analyst Views on BJK
Wall Street analysts forecast BJK stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for BJK is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 38.770
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
