Analyst Consensus ?
ConsensusBuy45 ratings
Bullish2964.5%
Neutral1533.3%
Bearish12.2%
Wynn Resorts, Limited · WYNN · FY2026 Q1 · Calendar Q2 2026
Wynn Resorts Posts Solid Q1 as Las Vegas RevPAR Climbs 10%, Macau Mass Drop Jumps 19%
Wynn Resorts reported a solid first quarter with adjusted EBITDAR up 5% across all regions, highlighted by a record March in Las Vegas and a 19% year-over-year surge in Macau mass drop. Revenue topped estimates by 1.9% while EPS landed exactly in line at $1.25. New luxury venues Zero Bond and Sartiano's are driving higher ADRs, and the company is advancing two major capital projects: the $900-$950 million Enclave suite tower at Wynn Palace and the Encore Tower remodel in Las Vegas. Despite the operational strength, the stock declined roughly 5% on an abnormal basis following the report, before drifting back up about 2.4% in subsequent sessions. The market appears to be weighing construction disruption risks and Macau competitive dynamics against the growth story. With shares at $99.33 versus a consensus analyst target of $133.10, the stock trades at a meaningful discount to sell-side…
Reported After market closeNASDAQConsumer Cyclical
$10.45B market cap
100quality score
Company context
Snapshot as of publicationWynn Resorts, Limited excels in the conceptualization, development, and operation of upscale integrated resort properties. The Wynn Palace, situated in Cotai, boasts a gaming floor spanning 424,000 square feet, which includes 323 table games, 1,035 slot machines, exclusive private gaming salons, and sky casinos. Accommodations are offered in a luxurious hotel tower featuring 1,706 guest rooms, suites, and villas, complemented by a health club, spa, salon, and swimming pool. This location further provides 14 distinct food and beverage establishments, 107,000 square feet for retail, 37,000 square feet of conference and event space, alongside a performance lake and elaborate floral displays. The Wynn Macau resort presents a 252,000 square-foot casino housing 331 table games, 818 slot machines, private gaming salons, sky casinos, and a dedicated poker room. Its two opulent hotel towers collectively feature 1,010 guest rooms and suites, enhanced by two health clubs, two spas, a salon, and a swimming pool.…
Earnings scorecard
Reported versus consensus
Reported EPS
$1.25
Consensus $1
EPS surprise
0.0%
Reported versus consensus
Reported revenue
$1.86B
Consensus $1.82B
Revenue surprise
+1.9%
Reported versus consensus
Earnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$99.31Current
$91Low
$129.72Average
$155High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Jul 31, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Mizuho | Outperform | Outperform | Maintain | Jul 28, 2026 |
| Stifel | Buy | Buy | Maintain | Jul 16, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Jul 15, 2026 |
| Wells Fargo | Overweight | Overweight | Maintain | Jul 14, 2026 |
| Barclays | Overweight | Overweight | Maintain | Jul 9, 2026 |
| Macquarie | Outperform | Outperform | Maintain | Jul 7, 2026 |
| Morgan Stanley | Overweight | Overweight | Maintain | May 14, 2026 |
| B of A Securities | Buy | Buy | Maintain | May 11, 2026 |
| Citigroup | Buy | Buy | Maintain | May 8, 2026 |
| Susquehanna | Positive | Positive | Maintain | Apr 16, 2026 |
| Jefferies | Buy | Buy | Maintain | Apr 6, 2026 |
| UBS | Buy | Buy | Maintain | Feb 23, 2026 |
| Goldman Sachs | Buy | Buy | Maintain | Oct 1, 2025 |
| Argus Research | Buy | Hold | Upgrade | Sep 3, 2025 |
| Deutsche Bank | Buy | Buy | Maintain | Nov 5, 2024 |
| Seaport Global | Buy | Neutral | Upgrade | May 31, 2024 |
| Credit Suisse | Outperform | Outperform | Maintain | May 10, 2023 |
| CBRE | Buy | Buy | Maintain | Feb 16, 2022 |
| Union Gaming | Hold | Buy | Downgrade | Oct 19, 2020 |
| Roth Capital | Neutral | Buy | Downgrade | Sep 16, 2020 |
| CFRA | Hold | Strong Sell | Upgrade | May 8, 2020 |
| Standpoint Research | Hold | Buy | Downgrade | Jan 16, 2020 |
| Wolfe Research | Outperform | Peer Perform | Upgrade | Jan 10, 2020 |
| Stifel Nicolaus | Buy | Buy | Maintain | Nov 7, 2019 |
| Nomura | Buy | Buy | Maintain | Oct 8, 2019 |
| Bank of America | Buy | Neutral | Upgrade | Apr 25, 2019 |
| Argus | Hold | Buy | Downgrade | Aug 7, 2018 |
| Telsey Advisory Group | Market Perform | Outperform | Downgrade | Jul 26, 2017 |
| Aegis Capital | Buy | Neutral | Upgrade | Mar 21, 2017 |
| CLSA | Underperform | Outperform | Downgrade | Jul 29, 2016 |
| Sterne Agee CRT | Neutral | Buy | Downgrade | Mar 11, 2016 |
| Sterne Agee | Neutral | Buy | Downgrade | Mar 11, 2016 |
| Taglich Brothers | Market Perform | Underperform | Upgrade | Oct 5, 2015 |
| Morningstar | Hold | Buy | Downgrade | Feb 10, 2015 |
| Argus Capital | Hold | Buy | Downgrade | Sep 5, 2014 |
| Gabelli & Co. | Hold | Buy | Downgrade | Aug 14, 2014 |
| Craig-Hallum | Buy | Hold | Upgrade | Aug 7, 2014 |
| FBR Capital | Market Perform | Market Perform | Maintain | Jun 25, 2014 |
| ISI Group | Neutral | Buy | Downgrade | Sep 16, 2013 |
| Lazard | Buy | Buy | Maintain | Jun 20, 2013 |
| Credit Agricole | Outperform | Buy | Maintain | Jan 11, 2013 |
| Topeka Capital | Buy | Buy | Maintain | Oct 29, 2012 |
| Topeka | Buy | Buy | Maintain | Oct 29, 2012 |
| Compass Point | Neutral | Sell | Upgrade | Oct 25, 2012 |
| Cantor Fitzgerald | Buy | Buy | Maintain | Jul 18, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $99.31. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Morgan Stanley | Stephen Grambling | $128 | $94.37 | +28.9% | Jul 22, 2026 |
| Stifel Nicolaus | Analyst unavailable | $140 | $97.05 | +41.0% | Jul 16, 2026 |
| Goldman Sachs | Analyst unavailable | $120 | $96.42 | +20.8% | Jul 15, 2026 |
| Wells Fargo | Analyst unavailable | $141 | $97.13 | +42.0% | Jul 14, 2026 |
| Barclays | Analyst unavailable | $134 | $97.5 | +34.9% | Jul 9, 2026 |
| Truist Financial | Analyst unavailable | $125 | $96.35 | +25.9% | Jul 8, 2026 |
| Morgan Stanley | Stephen Grambling | $133 | $96.22 | +33.9% | May 14, 2026 |
| Mizuho Securities | Analyst unavailable | $133 | $99.37 | +33.9% | May 12, 2026 |
| Wells Fargo | Trey Bowers | $142 | $102.42 | +43.0% | May 10, 2026 |
| Deutsche Bank | Steven Pizzella | $137 | $101.2 | +38.0% | May 8, 2026 |
| Barclays | Analyst unavailable | $139 | $106.85 | +40.0% | May 8, 2026 |
| Susquehanna | Joseph Stauff | $127 | $106.84 | +27.9% | Apr 16, 2026 |
| Wells Fargo | Analyst unavailable | $144 | $106.84 | +45.0% | Apr 16, 2026 |
| UBS | Analyst unavailable | $146 | $108.06 | +47.0% | Feb 23, 2026 |
| Mizuho Securities | Analyst unavailable | $134 | $113.39 | +34.9% | Feb 17, 2026 |
| Deutsche Bank | Analyst unavailable | $144 | $112.3 | +45.0% | Feb 13, 2026 |
| Stifel Nicolaus | Steven Wieczynski | $150 | $107.85 | +51.0% | Feb 13, 2026 |
| Wells Fargo | Trey Bowers | $147 | $107.85 | +48.0% | Feb 13, 2026 |
| Susquehanna | Joseph Stauff | $133 | $113.2 | +33.9% | Feb 12, 2026 |
| UBS | Analyst unavailable | $148 | $117.37 | +49.0% | Jan 16, 2026 |
| Morgan Stanley | Analyst unavailable | $139 | $117.37 | +40.0% | Jan 16, 2026 |
| Barclays | Brandt Montour | $143 | $117.37 | +44.0% | Jan 16, 2026 |
| UBS | Analyst unavailable | $164 | $125.02 | +65.1% | Dec 24, 2025 |
| Goldman Sachs | Analyst unavailable | $148 | $123.64 | +49.0% | Dec 15, 2025 |
| Jefferies | Analyst unavailable | $155 | $131.53 | +56.1% | Dec 8, 2025 |
| Stifel Nicolaus | Steven Wieczynski | $160 | $125.51 | +61.1% | Dec 8, 2025 |
| Goldman Sachs | Analyst unavailable | $145 | $128.68 | +46.0% | Dec 1, 2025 |
| Morgan Stanley | Stephen Grambling | $132 | $123.24 | +32.9% | Nov 24, 2025 |
| Stifel Nicolaus | Analyst unavailable | $145 | $125.14 | +46.0% | Sep 18, 2025 |
| Barclays | Brandt Montour | $127 | $109.44 | +27.9% | Jul 18, 2025 |
| Stifel Nicolaus | Steven Wieczynski | $113 | $83.52 | +13.8% | May 7, 2025 |
| Barclays | Brandt Montour | $99 | $76.97 | -0.3% | Apr 22, 2025 |
| Morgan Stanley | Stephen Grambling | $105 | $82.45 | +5.7% | Jan 14, 2025 |
| Deutsche Bank | Carlo Santarelli | $128 | $88.7 | +28.9% | Dec 18, 2024 |
| Mizuho Securities | Ben Chaiken | $118 | $86.1 | +18.8% | Nov 6, 2024 |
| Stifel Nicolaus | Steven Wieczynski | $125 | $86.72 | +25.9% | Nov 5, 2024 |
| Barclays | Brandt Montour | $125 | $100.24 | +25.9% | Oct 17, 2024 |
| Susquehanna | Joseph Stauff | $122 | $103.7 | +22.8% | Oct 11, 2024 |
| Mizuho Securities | Ben Chaiken | $125 | $106.26 | +25.9% | Oct 11, 2024 |
| Morgan Stanley | Stephen Grambling | $104 | $91.03 | +4.7% | Sep 26, 2024 |
| Stifel Nicolaus | Steven Wieczynski | $103 | $76.26 | +3.7% | Sep 13, 2024 |
| Susquehanna | Joseph Stauff | $93 | $74.85 | -6.4% | Aug 7, 2024 |
| Mizuho Securities | Ben Chaiken | $124 | $83.43 | +24.9% | Jul 22, 2024 |
| Morgan Stanley | Stephen Grambling | $107 | $84.61 | +7.7% | Jul 12, 2024 |
| Deutsche Bank | Carlo Santarelli | $131 | $83.91 | +31.9% | Jul 11, 2024 |
| Macquarie | Chad Beynon | $126 | $85.66 | +26.9% | Jul 9, 2024 |
| Seaport Global | Vitaly Umansky | $116 | $92.54 | +16.8% | May 30, 2024 |
| Argus Research | John Staszak | $110 | $95.48 | +10.8% | May 23, 2024 |
| Barclays | Brandt Montour | $128 | $95.75 | +28.9% | May 9, 2024 |
| Barclays | Brandt Montour | $123 | $106.49 | +23.9% | Apr 10, 2024 |
| Mizuho Securities | Ben Chaiken | $131 | $106.42 | +31.9% | Apr 4, 2024 |
| Macquarie | Chad Beynon | $122 | $91.16 | +22.8% | Jan 17, 2024 |
| HSBC | Meredith Jensen | $111 | $93.07 | +11.8% | Nov 9, 2023 |
| Wells Fargo | Daniel Politzer | $134 | $110.25 | +34.9% | Apr 13, 2023 |
| Morgan Stanley | Analyst unavailable | $95 | $102.4 | -4.3% | Feb 1, 2023 |
| Wells Fargo | Daniel Politzer | $101 | $84.63 | +1.7% | Jan 3, 2023 |
| Barclays | Analyst unavailable | $97 | $85.38 | -2.3% | Dec 15, 2022 |
| J.P. Morgan | Analyst unavailable | $91 | $78.38 | -8.4% | Nov 28, 2022 |
| Wells Fargo | Daniel Politzer | $53 | $67.86 | -46.6% | Nov 2, 2022 |
| Morgan Stanley | Analyst unavailable | $90 | $71.07 | -9.4% | Apr 25, 2022 |
| Deutsche Bank | Carlo Santarelli | $121 | $94.23 | +21.8% | Feb 16, 2022 |
| Macquarie | Chad Beynon | $96 | $86.13 | -3.3% | Jan 26, 2022 |
| Jefferies | David Katz | $105 | $85.65 | +5.7% | Jan 21, 2022 |
Track every rating change on WYNN the moment it posts. Free to start.
Start freeMarket reaction
event-close to next-session close
Stock move
-4.1%
Event window
SPY move
+0.8%
Same window
Abnormal move
-5.0%
Stock minus SPY
Volume
3.1×
Versus trailing sessions
Subsequent drift
+2.4%
Up to 20 sessions
WYNNSPY benchmark
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Try FN2 freeTranscript intelligence
What changed
Q1 FY2026 adjusted EBITDAR grew 5% overall, with Las Vegas delivering a record March and 10% RevPAR growth. Casino revenue in Las Vegas rose over 9% year-over-year. In Macau, mass drop surged 19% and handle rose 32%, exceeding management's prior expectations. Revenue of $1.86 billion beat consensus of $1.82 billion by 1.9%, while EPS of $1.25 matched estimates exactly. The company announced the Enclave all-suite tower at Wynn Palace, a $900-$950 million project adding 432 suites with projected incremental EBITDA of $150-$175 million. New luxury concepts Zero Bond and Sartiano's opened to positive guest reception. The Al Marjan project in the UAE continues amid regional conflict, with a modest opening delay but no major budget overruns. Liquidity stands at $4.4 billion, with an increased dividend, a $150 million final dividend for 2025, and ongoing share repurchases.
Guidance delta
Management maintained its existing guidance posture with a confident tone. Capex outlook remains increasing, with the 2026 budget targeted at $400-$450 million alongside the newly announced $900-$950 million Enclave tower commitment. The Al Marjan opening timeline was nudged slightly later, but management expressed confidence in mitigating supply-chain issues. No formal revenue or EBITDA guidance ranges were issued.
Key takeaways
- Adjusted EBITDAR grew 5% across all regions, with Las Vegas posting a record March and 10% RevPAR growth.
- Macau mass drop surged 19% year-over-year and handle rose 32%, exceeding prior expectations.
- Revenue of $1.86 billion beat consensus by 1.9%; EPS of $1.25 matched estimates exactly.
- The Enclave tower at Wynn Palace will add 432 suites at a cost of $900-$950 million, projected to generate $150-$175 million in incremental EBITDA.
- Liquidity remains strong at $4.4 billion, with an increased dividend and ongoing share buybacks.
Management priorities
- Begin the Encore Tower remodel in Las Vegas within weeks.
- Start early construction on the Enclave all-suite tower at Wynn Palace in 2026.
- Advance the Al Marjan project in the UAE toward a 2027 opening.
- Continue rolling out new dining and entertainment concepts including Zero Bond and Sartiano's.
- Maintain a disciplined capex program targeting $400-$450 million for 2026.
Related earnings events
Consumer CyclicalDECK · FY2027 Q1 · Calendar Q3 2026Deckers Crosses $1 Billion Quarterly Revenue as HOKA and UGG DTC Drive Margin GainsTSCO · FY2026 Q2 · Calendar Q3 2026TSCO Q2: Comp Sales Turn Negative as Pet Ecosystem ExpandsPKG · FY2026 Q2 · Calendar Q3 2026PKG Beats Q2 EPS Guidance as Greif Integration Hits Stride
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-07-31T18:01:06.348810+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-07-31T18:01:06.346109+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated . For educational purposes only; not investment advice.