Wynn Resorts (NASDAQ:WYNN) had its price objective increased by Credit Suisse Group from $120.00 to $125.00 in a report issued on Thursday morning, Stock Target Advisor reports. They currently have a neutral rating on the casino operator’s stock.
Several other equities analysts also recently issued reports on the stock. Morgan Stanley reduced their price objective on shares of Wynn Resorts from $129.00 to $115.00 and set an equal weight rating on the stock in a research note on Tuesday, September 17th. BidaskClub raised shares of Wynn Resorts from a sell rating to a hold rating in a research note on Saturday, October 12th. Standpoint Research initiated coverage on shares of Wynn Resorts in a research note on Wednesday, September 4th. They set a buy rating on the stock. Barclays reduced their price objective on shares of Wynn Resorts from $157.00 to $150.00 and set an overweight rating on the stock in a research note on Thursday, September 12th. Finally, UBS Group dropped their price target on shares of Wynn Resorts from $119.00 to $114.00 and set a neutral rating for the company in a research report on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $137.59.
Shares of Wynn Resorts stock traded up $0.98 on Thursday, reaching $126.47. 1,396,900 shares of the stock were exchanged, compared to its average volume of 2,073,250. The company has a current ratio of 1.00, a quick ratio of 0.95 and a debt-to-equity ratio of 5.00. The firm has a market capitalization of $13.62 billion, a PE ratio of 19.34, a PEG ratio of 2.43 and a beta of 2.07. The business has a fifty day moving average price of $114.45 and a two-hundred day moving average price of $120.37. Wynn Resorts has a 1-year low of $90.06 and a 1-year high of $151.50.
Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Wednesday, November 6th. The casino operator reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.73). The firm had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.67 billion. Wynn Resorts had a net margin of 12.41% and a return on equity of 34.98%. The business’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.68 EPS. Research analysts expect that Wynn Resorts will post 5.21 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Thursday, November 14th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 3.16%. The ex-dividend date is Wednesday, November 13th. Wynn Resorts’s dividend payout ratio (DPR) is 61.16%.
In other news, CEO Matt Maddox sold 25,000 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $117.30, for a total value of $2,932,500.00. Following the completion of the sale, the chief executive officer now owns 459,185 shares of the company’s stock, valued at $53,862,400.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 75,000 shares of company stock valued at $8,750,250 in the last ninety days. 0.58% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in WYNN. Amundi Pioneer Asset Management Inc. increased its position in shares of Wynn Resorts by 569.1% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 35,590 shares of the casino operator’s stock worth $4,247,000 after acquiring an additional 30,271 shares in the last quarter. Retirement Systems of Alabama increased its position in shares of Wynn Resorts by 236.5% in the second quarter. Retirement Systems of Alabama now owns 151,788 shares of the casino operator’s stock worth $18,820,000 after acquiring an additional 106,680 shares in the last quarter. PM CAPITAL Ltd increased its position in shares of Wynn Resorts by 4.2% in the second quarter. PM CAPITAL Ltd now owns 242,411 shares of the casino operator’s stock worth $30,057,000 after acquiring an additional 9,681 shares in the last quarter. Edge Wealth Management LLC acquired a new stake in shares of Wynn Resorts in the second quarter worth $248,000. Finally, NEXT Financial Group Inc increased its position in shares of Wynn Resorts by 81.7% in the second quarter. NEXT Financial Group Inc now owns 545 shares of the casino operator’s stock worth $68,000 after acquiring an additional 245 shares in the last quarter. 75.66% of the stock is owned by institutional investors.
About Wynn Resorts
Wynn Resorts, Limited owns and operates destination casino resorts. As of February 20, 2019, the company's Wynn Palace segment had approximately 424,000 square feet of casino space, which offered 320 table games and 1,041 slot machines, private gaming salons, and sky casinos; a luxury hotel towers with 1,706 guest rooms, suites, and villas; 13 food and beverage outlets; 106,000 square feet of retail space; 37,000 square feet of meeting and convention space; recreation and leisure facilities comprising a gondola ride, health club, spa, salon, and pool; and public attractions, such as performance lake and floral art displays.
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