Wynn Resorts Ltd. (NASDAQ:WYNN) was downgraded by stock analysts at Vetr from a “strong-buy” rating to a “buy” rating in a report issued on Thursday. They presently have a $110.77 price objective on the casino operator’s stock. Vetr‘s price target suggests a potential upside of 9.33% from the company’s current price.
Other analysts also recently issued reports about the stock. Stifel Nicolaus cut their price target on shares of Wynn Resorts from $106.00 to $103.00 and set a “hold” rating on the stock in a research report on Thursday, November 3rd. Nomura dropped their target price on shares of Wynn Resorts from $83.00 to $77.00 and set a “reduce” rating on the stock in a report on Thursday, November 3rd. Telsey Advisory Group dropped their target price on shares of Wynn Resorts from $115.00 to $105.00 and set an “outperform” rating on the stock in a report on Thursday, November 3rd. Zacks Investment Research upgraded shares of Wynn Resorts from a “hold” rating to a “buy” rating and set a $110.00 target price on the stock in a report on Monday, August 1st. Finally, set a $97.00 target price on shares of Wynn Resorts and gave the stock a “sell” rating in a report on Monday, September 19th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $102.16.
Shares of Wynn Resorts (NASDAQ:WYNN) remained flat at $101.32 during mid-day trading on Thursday. The company’s stock had a trading volume of 4,268,352 shares. The stock has a 50-day moving average price of $93.28 and a 200-day moving average price of $95.96. The stock has a market capitalization of $10.28 billion, a P/E ratio of 47.79 and a beta of 1.89. Wynn Resorts has a 12 month low of $49.95 and a 12 month high of $109.50.
Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Wednesday, November 2nd. The casino operator reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by $0.03. The firm earned $1.11 billion during the quarter, compared to analyst estimates of $1.12 billion. Wynn Resorts had a net margin of 5.24% and a return on equity of 3,973.99%. The business’s revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.86 earnings per share. On average, analysts predict that Wynn Resorts will post $3.79 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 29th. Stockholders of record on Thursday, November 17th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date is Tuesday, November 15th. Wynn Resorts’s dividend payout ratio is currently 94.34%.
In related news, Director Daniel Boone Wayson sold 37,500 shares of the business’s stock in a transaction dated Wednesday, November 9th. The stock was sold at an average price of $87.12, for a total value of $3,267,000.00. Following the completion of the transaction, the director now owns 54,510 shares of the company’s stock, valued at $4,748,911.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 12.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. TLP Group LLC bought a new position in Wynn Resorts during the second quarter worth approximately $114,000. Mizuho Asset Management Co. Ltd. increased its position in Wynn Resorts by 176.4% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,266 shares of the casino operator’s stock worth $115,000 after buying an additional 808 shares during the period. Advisory Services Network LLC increased its position in Wynn Resorts by 171.8% in the third quarter. Advisory Services Network LLC now owns 1,582 shares of the casino operator’s stock worth $154,000 after buying an additional 1,000 shares during the period. Krilogy Financial LLC increased its position in Wynn Resorts by 57.8% in the second quarter. Krilogy Financial LLC now owns 1,775 shares of the casino operator’s stock worth $161,000 after buying an additional 650 shares during the period. Finally, Pacer Advisors Inc. increased its position in Wynn Resorts by 10.4% in the second quarter. Pacer Advisors Inc. now owns 1,814 shares of the casino operator’s stock worth $164,000 after buying an additional 171 shares during the period. 71.42% of the stock is owned by institutional investors and hedge funds.
Wynn Resorts Company Profile
Wynn Resorts, Limited is a developer, owner and operator of destination casino resorts that integrate accommodations and a range of amenities, including dining outlets, retail offerings, entertainment theaters and meeting complexes. The Company operates through two segments: Macau Operations and Las Vegas Operations.
To view Vetr’s full report, visit Vetr’s official website.
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