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Here's Why Wynn Resorts (WYNN) is a Strong Momentum Stock

Zacks Equity Research
·2-min read

It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors.

Many investors also have a go-to methodology that helps guide their buy and sell decisions. One way to find winning stocks based on your preferred way of investing is to use the Zacks Style Scores, which are indicators that rate stocks based on three widely-followed investing types: value, growth, and momentum.

Is This 1 Momentum Stock a Screaming Buy Right Now?

For momentum investors, upward or downward trends in a stock's price or earnings outlook take precedent, so they'll want to zero in on the Momentum Style Score. This Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.

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Wynn Resorts (WYNN)

Based in Las Vegas, NV, Wynn Resorts was founded in 2002. The company, together with its subsidiaries, is a leading developer, owner and operator of casino resorts. The company currently owns and operates casino hotel resort properties in Las Vegas, and in Macau Special Administrative Region of the People's Republic of China.

WYNN boasts a Momentum Style Score of B and VGM Score of A, and holds a Zacks Rank #3 (Hold) rating. Shares of Wynn Resorts has seen some interesting price action recently; the stock is up 2% over the past one week and up 3.2% over the past four weeks. And in the last one-year period, WYNN has gained 47.5%. As for the stock's trading volume, 1,769,961.75 shares on average were traded over the last 20 days.

A company's earnings performance is important for momentum investors as well. For fiscal 2023, five analysts revised their earnings estimate higher in the last 60 days for WYNN, while the Zacks Consensus Estimate has increased $1.02 to $2.90 per share. WYNN also boasts an average earnings surprise of 83.6%.

WYNN should be on investors' short list because of its impressive earnings fundamentals, a good Zacks Rank, and strong Momentum and VGM Style Scores.

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Wynn Resorts, Limited (WYNN) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research