Comerica Bank grew its position in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 7.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,530 shares of the casino operator’s stock after acquiring an additional 1,509 shares during the quarter. Comerica Bank’s holdings in Wynn Resorts were worth $3,552,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Wynn Resorts by 8.7% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 305,854 shares of the casino operator’s stock worth $51,182,000 after buying an additional 24,444 shares in the last quarter. Wedge Capital Management L L P NC bought a new stake in Wynn Resorts during the second quarter worth $44,659,000. Buckley Wealth Management LLC grew its holdings in Wynn Resorts by 28.0% during the second quarter. Buckley Wealth Management LLC now owns 4,100 shares of the casino operator’s stock worth $686,000 after buying an additional 898 shares in the last quarter. Commonwealth Equity Services LLC grew its holdings in Wynn Resorts by 32.9% during the second quarter. Commonwealth Equity Services LLC now owns 15,263 shares of the casino operator’s stock worth $2,554,000 after buying an additional 3,782 shares in the last quarter. Finally, TD Asset Management Inc. grew its holdings in Wynn Resorts by 4.5% during the second quarter. TD Asset Management Inc. now owns 94,900 shares of the casino operator’s stock worth $15,881,000 after buying an additional 4,065 shares in the last quarter. Hedge funds and other institutional investors own 76.95% of the company’s stock.
WYNN stock opened at $142.33 on Friday. The company has a debt-to-equity ratio of 4.47, a quick ratio of 1.04 and a current ratio of 1.08. Wynn Resorts, Limited has a 1-year low of $132.26 and a 1-year high of $203.63. The firm has a market capitalization of $16.14 billion, a price-to-earnings ratio of 26.07 and a beta of 1.39.
Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings results on Wednesday, August 1st. The casino operator reported $1.53 EPS for the quarter, missing analysts’ consensus estimates of $1.96 by ($0.43). Wynn Resorts had a net margin of 7.90% and a return on equity of 69.17%. The firm had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same period in the prior year, the company earned $1.18 EPS. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. research analysts predict that Wynn Resorts, Limited will post 7.86 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 28th. Stockholders of record on Thursday, August 16th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Wednesday, August 15th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.11%. Wynn Resorts’s dividend payout ratio is presently 54.95%.
Several equities research analysts recently issued reports on the company. ValuEngine downgraded Wynn Resorts from a “hold” rating to a “sell” rating in a report on Wednesday. BidaskClub downgraded Wynn Resorts from a “hold” rating to a “sell” rating in a report on Friday. Stifel Nicolaus boosted their price objective on Wynn Resorts from $186.00 to $209.00 and gave the stock a “hold” rating in a research report on Wednesday, April 25th. Jefferies Financial Group cut Wynn Resorts from a “buy” rating to a “hold” rating and set a $170.00 price objective on the stock. in a research report on Tuesday, August 14th. Finally, Barclays cut their price objective on Wynn Resorts from $224.00 to $213.00 and set an “overweight” rating on the stock in a research report on Thursday, August 2nd. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $189.63.
About Wynn Resorts
Wynn Resorts, Limited develops, owns, and operates destination casino resorts. As of February 15, 2018, the company's Wynn Macau segment had approximately 273,000 square feet of casino space, which offered 316 table games and 988 slot machines, private gaming salons, sky casinos, and a poker pit; 2 luxury hotel towers with a total of 1,008 guest rooms and suites; 8 food and beverage outlets; 59,000 square feet of retail space; 31,000 square feet of meeting and convention space; recreation and leisure facilities comprising 2 health clubs, spas, a salon, and a pool; and a rotunda show, a Chinese zodiac-inspired ceiling.
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