Wynn Resorts (NASDAQ:WYNN) Sets New 1-Year Low – What’s Next?

Wynn Resorts, Limited (NASDAQ:WYNNGet Free Report)’s stock price reached a new 52-week low on Thursday . The company traded as low as $92.52 and last traded at $95.9930, with a volume of 67156 shares. The stock had previously closed at $94.37.

Analyst Ratings Changes

A number of research firms have weighed in on WYNN. Truist Financial assumed coverage on Wynn Resorts in a research note on Wednesday, July 8th. They set a “buy” rating and a $125.00 price objective for the company. JPMorgan Chase & Co. dropped their target price on Wynn Resorts from $135.00 to $134.00 and set an “overweight” rating on the stock in a report on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $137.00 price target on shares of Wynn Resorts in a research report on Friday, May 8th. Barclays decreased their price target on Wynn Resorts from $139.00 to $134.00 and set an “overweight” rating for the company in a report on Thursday, July 9th. Finally, Bank of America lowered their price objective on Wynn Resorts from $150.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $135.94.

Check Out Our Latest Stock Report on Wynn Resorts

Wynn Resorts Trading Up 0.2%

The firm’s 50 day simple moving average is $100.21 and its 200-day simple moving average is $104.96. The company has a market capitalization of $10.06 billion, a price-to-earnings ratio of 28.93, a PEG ratio of 0.95 and a beta of 0.99.

Wynn Resorts (NASDAQ:WYNNGet Free Report) last issued its quarterly earnings data on Thursday, May 7th. The casino operator reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.18 by $0.07. The firm had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.82 billion. Wynn Resorts had a net margin of 5.14% and a negative return on equity of 42.03%. The firm’s revenue was up 9.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.07 EPS. As a group, sell-side analysts forecast that Wynn Resorts, Limited will post 4.52 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Monday, May 18th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $1.00 annualized dividend and a yield of 1.0%. Wynn Resorts’s dividend payout ratio (DPR) is 29.85%.

Hedge Funds Weigh In On Wynn Resorts

Several large investors have recently modified their holdings of WYNN. Hantz Financial Services Inc. boosted its stake in Wynn Resorts by 54.9% during the 4th quarter. Hantz Financial Services Inc. now owns 251 shares of the casino operator’s stock valued at $30,000 after purchasing an additional 89 shares during the period. Horizon Investments LLC boosted its holdings in shares of Wynn Resorts by 6.7% during the fourth quarter. Horizon Investments LLC now owns 1,500 shares of the casino operator’s stock worth $180,000 after purchasing an additional 94 shares during the period. QRG Capital Management Inc. lifted its holdings in shares of Wynn Resorts by 4.9% during the 1st quarter. QRG Capital Management Inc. now owns 2,071 shares of the casino operator’s stock valued at $210,000 after buying an additional 96 shares during the last quarter. Parallel Advisors LLC boosted its stake in shares of Wynn Resorts by 21.6% during the 3rd quarter. Parallel Advisors LLC now owns 563 shares of the casino operator’s stock worth $72,000 after acquiring an additional 100 shares in the last quarter. Finally, Cromwell Holdings LLC grew its stake in Wynn Resorts by 68.2% in the 4th quarter. Cromwell Holdings LLC now owns 254 shares of the casino operator’s stock valued at $31,000 after buying an additional 103 shares during the last quarter. Institutional investors own 88.64% of the company’s stock.

About Wynn Resorts

(Get Free Report)

Wynn Resorts, Limited (NASDAQ: WYNN) is a global developer and operator of luxury resorts and casinos, renowned for its premium hospitality offerings and integrated entertainment experiences. The company specializes in high-end hotel accommodations, gaming operations, fine dining restaurants, retail outlets, meeting and convention spaces, and live entertainment venues. Its properties are designed to cater to both leisure and business travelers seeking upscale environments and world-class service.

Founded in 2002 by hospitality entrepreneur Steve Wynn, the company opened its flagship property, Wynn Las Vegas, on the Las Vegas Strip in 2005, followed by Encore Las Vegas in 2008.

Further Reading

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