Wynn Resorts Ltd. (NASDAQ:WYNN) was downgraded by investment analysts at Vetr from a “strong-buy” rating to a “buy” rating in a report issued on Thursday. They presently have a $110.77 target price on the casino operator’s stock. Vetr‘s price target would indicate a potential upside of 9.33% from the stock’s current price.
Several other equities analysts have also recently weighed in on WYNN. Nomura cut Wynn Resorts from a “neutral” rating to a “reduce” rating and lifted their price objective for the company from $78.00 to $83.00 in a report on Friday, July 29th. Telsey Advisory Group lifted their price objective on Wynn Resorts from $112.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, July 29th. cut Wynn Resorts from an “outperform” rating to an “underperform” rating in a report on Friday, July 29th. JPMorgan Chase & Co. cut their price objective on Wynn Resorts from $94.00 to $93.00 and set a “neutral” rating on the stock in a report on Friday, July 29th. Finally, Zacks Investment Research upgraded Wynn Resorts from a “hold” rating to a “buy” rating and set a $110.00 price objective on the stock in a report on Monday, August 1st. Two equities 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’s stock. The stock has an average rating of “Hold” and a consensus target price of $102.16.
Wynn Resorts (NASDAQ:WYNN) remained flat at $101.32 during trading on Thursday. The stock’s 50-day moving average price is $93.28 and its 200-day moving average price is $95.96. The company 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 1-year low of $49.95 and a 1-year high of $109.50.
Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings data on Wednesday, November 2nd. The casino operator reported $0.75 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.78 by $0.03. Wynn Resorts had a net margin of 5.24% and a return on equity of 3,973.99%. The business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter last year, the firm earned $0.86 EPS. The company’s revenue for the quarter was up 11.4% on a year-over-year basis. On average, analysts forecast that Wynn Resorts will post $3.79 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 29th. Shareholders of record on Thursday, November 17th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend is Tuesday, November 15th. Wynn Resorts’s dividend payout ratio is 94.34%.
In other Wynn Resorts news, Director Daniel Boone Wayson sold 37,500 shares of the company’s stock in a transaction on 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 transaction, the director now directly owns 54,510 shares of the company’s stock, valued at approximately $4,748,911.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 12.60% of the stock is owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. TLP Group LLC bought a new stake in Wynn Resorts during the second quarter worth $114,000. Mizuho Asset Management Co. Ltd. increased its stake 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 last quarter. Advisory Services Network LLC increased its stake 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 last quarter. Krilogy Financial LLC increased its stake 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 last quarter. Finally, Pacer Advisors Inc. increased its stake 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 last quarter. Hedge funds and other institutional investors own 71.42% of the company’s stock.
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.