Wynn Resorts (WYNN) Shares Gap Down on Analyst Downgrade

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Wynn Resorts, Limited (NASDAQ:WYNN)’s share price gapped down before the market opened on Friday after Roth Capital lowered their price target on the stock from $210.00 to $140.00. The stock had previously closed at $99.79, but opened at $99.02. Roth Capital currently has a buy rating on the stock. Wynn Resorts shares last traded at $100.34, with a volume of 126053 shares trading hands.

Several other research firms also recently weighed in on WYNN. Stifel Nicolaus dropped their target price on shares of Wynn Resorts from $207.00 to $192.00 and set a “buy” rating for the company in a report on Thursday, August 2nd. Jefferies Financial Group downgraded shares of Wynn Resorts from a “buy” rating to a “hold” rating and set a $170.00 target price for the company. in a report on Tuesday, August 14th. BidaskClub downgraded shares of Wynn Resorts from a “hold” rating to a “sell” rating in a report on Friday, August 17th. Morgan Stanley dropped their target price on shares of Wynn Resorts from $200.00 to $187.00 and set a “hold” rating for the company in a report on Thursday, August 2nd. Finally, Susquehanna Bancshares dropped their target price on shares of Wynn Resorts from $204.00 to $187.00 and set a “positive” rating for the company in a report on Thursday, August 2nd. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $168.11.

Hedge funds and other institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. grew its holdings in shares of Wynn Resorts by 59.7% during the second quarter. Russell Investments Group Ltd. now owns 105,609 shares of the casino operator’s stock worth $17,653,000 after buying an additional 39,469 shares in the last quarter. Wright Investors Service Inc. purchased a new stake in Wynn Resorts in the second quarter valued at approximately $437,000. Korea Investment CORP grew its holdings in Wynn Resorts by 3.2% in the second quarter. Korea Investment CORP now owns 108,383 shares of the casino operator’s stock valued at $18,137,000 after purchasing an additional 3,400 shares during the period. Waddell & Reed Financial Inc. grew its holdings in Wynn Resorts by 281.4% in the second quarter. Waddell & Reed Financial Inc. now owns 247,880 shares of the casino operator’s stock valued at $41,480,000 after purchasing an additional 182,880 shares during the period. Finally, BlackRock Inc. grew its holdings in Wynn Resorts by 12.6% in the second quarter. BlackRock Inc. now owns 5,723,598 shares of the casino operator’s stock valued at $957,788,000 after purchasing an additional 641,845 shares during the period. Institutional investors and hedge funds own 75.23% of the company’s stock.

The firm has a market cap of $11.92 billion, a PE ratio of 18.30, a P/E/G ratio of 0.75 and a beta of 1.56. 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 (NASDAQ:WYNN) last released its 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). Wynn Resorts had a net margin of 7.90% and a return on equity of 69.17%. The company had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.67 billion. During the same quarter in the previous year, the firm posted $1.52 earnings per share. Wynn Resorts’s revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, analysts forecast that Wynn Resorts, Limited will post 7.35 EPS for the current fiscal year.

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

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Wynn Resorts Company Profile (NASDAQ:WYNN)

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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