Wynn Resorts (NASDAQ:WYNN) had its price target lowered by Bank of America from $125.00 to $114.00 in a report issued on Thursday, Marketbeat Ratings reports. Bank of America currently has a neutral rating on the casino operator’s stock.
Several other equities analysts have also weighed in on the company. Credit Suisse Group initiated coverage on Wynn Resorts in a report 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 report on Wednesday, August 15th. Barclays reduced their price objective on Wynn Resorts from $224.00 to $213.00 and set an overweight rating for the company in a report on Thursday, August 2nd. Argus lowered Wynn Resorts from a buy rating to a hold rating and set a $135.00 price objective for the company. in a report on Tuesday, August 7th. Finally, BidaskClub lowered Wynn Resorts from a buy rating to a hold rating in a report on Thursday, July 26th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $168.11.
Shares of WYNN traded down $0.70 on Thursday, reaching $98.32. 5,227,519 shares of the company’s stock traded hands, compared to its average volume of 3,185,552. The company has a current ratio of 1.08, a quick ratio of 1.04 and a debt-to-equity ratio of 4.47. The company has a market capitalization of $11.92 billion, a price-to-earnings ratio of 18.01, a PEG ratio of 0.75 and a beta of 1.56. Wynn Resorts has a 52-week low of $92.50 and a 52-week high of $203.63.
Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings results on Wednesday, November 7th. The casino operator reported $1.68 EPS for the quarter, missing the Zacks’ consensus estimate of $1.69 by ($0.01). The business had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.67 billion. Wynn Resorts had a net margin of 7.90% and a return on equity of 69.17%. The business’s revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.52 earnings per share. As a group, equities research analysts predict that Wynn Resorts will post 7.35 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Wednesday, November 21st will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date of this dividend is Tuesday, November 20th. Wynn Resorts’s payout ratio is currently 54.95%.
Several institutional investors have recently bought and sold shares of the company. Rafferty Asset Management LLC boosted its holdings in shares of Wynn Resorts by 47.9% in the third quarter. Rafferty Asset Management LLC now owns 14,540 shares of the casino operator’s stock worth $1,847,000 after acquiring an additional 4,707 shares during the period. American International Group Inc. boosted its holdings in shares of Wynn Resorts by 17.4% in the third quarter. American International Group Inc. now owns 40,915 shares of the casino operator’s stock worth $5,199,000 after acquiring an additional 6,068 shares during the period. BlackRock Inc. boosted its holdings in shares of Wynn Resorts by 7.7% in the third quarter. BlackRock Inc. now owns 6,164,658 shares of the casino operator’s stock worth $783,282,000 after acquiring an additional 441,060 shares during the period. Wilks Brothers LLC boosted its holdings in shares of Wynn Resorts by 150.7% in the third quarter. Wilks Brothers LLC now owns 228,100 shares of the casino operator’s stock worth $28,983,000 after acquiring an additional 137,100 shares during the period. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Wynn Resorts by 37.4% in the third quarter. PNC Financial Services Group Inc. now owns 6,725 shares of the casino operator’s stock worth $853,000 after acquiring an additional 1,831 shares during the period. 75.23% of the stock is owned by hedge funds and other institutional investors.
Wynn Resorts Company Profile
Wynn Resorts, Limited 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 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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