Dai Ichi Life Insurance Company Ltd decreased its holdings in Wynn Resorts, Limited (NASDAQ:WYNN) by 67.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,192 shares of the casino operator’s stock after selling 20,946 shares during the quarter. Dai Ichi Life Insurance Company Ltd’s holdings in Wynn Resorts were worth $1,706,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in Wynn Resorts by 12.6% during the 2nd quarter. BlackRock Inc. now owns 5,723,598 shares of the casino operator’s stock worth $957,788,000 after buying an additional 641,845 shares in the last quarter. Winslow Capital Management LLC purchased a new stake in Wynn Resorts during the 1st quarter worth approximately $184,340,000. Massachusetts Financial Services Co. MA increased its stake in Wynn Resorts by 15.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,010,495 shares of the casino operator’s stock worth $169,096,000 after buying an additional 136,113 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Wynn Resorts by 8.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 735,421 shares of the casino operator’s stock worth $123,065,000 after buying an additional 58,243 shares in the last quarter. Finally, FMR LLC increased its stake in Wynn Resorts by 491.2% during the 2nd quarter. FMR LLC now owns 625,891 shares of the casino operator’s stock worth $104,737,000 after buying an additional 520,025 shares in the last quarter. 75.26% of the stock is owned by institutional investors.
WYNN stock opened at $140.37 on Thursday. The company has a quick ratio of 1.04, a current ratio of 1.08 and a debt-to-equity ratio of 4.47. The company has a market capitalization of $16.12 billion, a PE ratio of 25.91, a P/E/G ratio of 0.94 and a beta of 1.43. Wynn Resorts, Limited has a 1 year low of $138.10 and a 1 year high of $203.63.
Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Wednesday, August 1st. The casino operator reported $1.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.96 by ($0.43). The company had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.72 billion. Wynn Resorts had a net margin of 7.90% and a return on equity of 69.17%. Wynn Resorts’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter last year, the company earned $1.18 earnings per share. equities research analysts predict that Wynn Resorts, Limited will post 7.86 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 28th. Stockholders of record on Thursday, August 16th were given a $0.75 dividend. The ex-dividend date of this dividend was Wednesday, August 15th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.14%. Wynn Resorts’s dividend payout ratio (DPR) is presently 54.95%.
Several equities research analysts have commented on the company. Credit Suisse Group assumed coverage on Wynn Resorts in a research note on Tuesday, August 14th. They set a “neutral” rating and a $155.00 price objective for the company. ValuEngine lowered Wynn Resorts from a “hold” rating to a “sell” rating in a research note on Wednesday, August 15th. Nomura cut their price objective on Wynn Resorts from $220.00 to $181.00 and set a “buy” rating for the company in a research note on Monday, July 9th. Barclays cut their price objective on Wynn Resorts from $224.00 to $213.00 and set an “overweight” rating for the company in a research note on Thursday, August 2nd. Finally, Jefferies Financial Group cut their price objective on Wynn Resorts from $230.00 to $229.00 and set a “buy” rating for the company in a research note on Friday, June 29th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average 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.
Further Reading: Fundamental Analysis
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