Wynn Resorts (WYNN) Price Target Cut to $130.00 by Analysts at Morgan Stanley

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Wynn Resorts (NASDAQ:WYNN) had its price target reduced by Morgan Stanley from $139.00 to $130.00 in a report published on Thursday. They currently have a hold rating on the casino operator’s stock.

A number of other analysts also recently weighed in on the stock. Credit Suisse Group reduced their target price on shares of Wynn Resorts from $137.00 to $119.00 and set a neutral rating on the stock in a report on Tuesday, October 23rd. Bank of America restated a hold rating and issued a $125.00 target price on shares of Wynn Resorts in a report on Tuesday, October 16th. ValuEngine downgraded shares of Wynn Resorts from a sell rating to a strong sell rating in a report on Friday, September 7th. BidaskClub downgraded shares of Wynn Resorts from a sell rating to a strong sell rating in a report on Saturday, September 29th. Finally, Barclays reduced their target price on shares of Wynn Resorts from $224.00 to $213.00 and set an overweight rating on the stock in a report on Thursday, August 2nd. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Wynn Resorts has an average rating of Hold and a consensus price target of $168.11.

NASDAQ WYNN traded down $0.70 on Thursday, reaching $98.32. The company had a trading volume of 5,227,519 shares, compared to its average volume of 3,185,552. The company has a debt-to-equity ratio of 4.47, a quick ratio of 1.04 and a current ratio of 1.08. The company has a market cap of $11.92 billion, a P/E ratio of 18.01, a P/E/G ratio of 0.75 and a beta of 1.56. Wynn Resorts has a 12 month low of $92.50 and a 12 month high of $203.63.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Wednesday, November 7th. The casino operator reported $1.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.01). The company had revenue of $1.71 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.52 earnings per share. As a group, analysts forecast that Wynn Resorts will post 7.35 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Wednesday, November 21st will be paid a dividend of $0.75 per share. The ex-dividend date is Tuesday, November 20th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.05%. Wynn Resorts’s dividend payout ratio is presently 54.95%.

Hedge funds have recently added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC boosted its position in Wynn Resorts by 115.4% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 614 shares of the casino operator’s stock valued at $103,000 after buying an additional 329 shares during the period. North Star Investment Management Corp. purchased a new stake in Wynn Resorts in the 2nd quarter valued at about $122,000. Atlas Capital Advisors LLC purchased a new stake in Wynn Resorts in the 2nd quarter valued at about $130,000. Dupont Capital Management Corp boosted its position in Wynn Resorts by 87.9% in the 2nd quarter. Dupont Capital Management Corp now owns 823 shares of the casino operator’s stock valued at $138,000 after buying an additional 385 shares during the period. Finally, Whittier Trust Co. boosted its position in Wynn Resorts by 157.5% in the 2nd quarter. Whittier Trust Co. now owns 811 shares of the casino operator’s stock valued at $169,000 after buying an additional 496 shares during the period. 75.23% of the stock is owned by hedge funds and other institutional investors.

About Wynn Resorts

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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Analyst Recommendations for Wynn Resorts (NASDAQ:WYNN)

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