Wynn Resorts (WYNN) Shares Gap Up to $111.52

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Wynn Resorts, Limited (NASDAQ:WYNN) shares gapped up prior to trading on Tuesday . The stock had previously closed at $114.83, but opened at $111.52. Wynn Resorts shares last traded at $112.36, with a volume of 153855 shares trading hands.

A number of research firms have weighed in on WYNN. Argus cut shares of Wynn Resorts from a “buy” rating to a “hold” rating and set a $135.00 target price on the stock. in a research note on Tuesday, August 7th. Jefferies Financial Group reiterated a “buy” rating on shares of Wynn Resorts in a research note on Wednesday, August 1st. Bank of America dropped their target price on shares of Wynn Resorts from $180.00 to $175.00 and set a “neutral” rating on the stock in a research note on Thursday, August 2nd. Susquehanna Bancshares dropped their target price on shares of Wynn Resorts from $204.00 to $187.00 and set a “positive” rating on the stock in a research note on Thursday, August 2nd. Finally, Barclays dropped their target price on shares of Wynn Resorts from $224.00 to $213.00 and set an “overweight” rating on the stock in a research note on Thursday, August 2nd. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $168.11.

The company has a current ratio of 1.14, a quick ratio of 1.11 and a debt-to-equity ratio of 5.65. The stock has a market cap of $11.34 billion, a PE ratio of 20.66, a P/E/G ratio of 0.78 and a beta of 1.56.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Wednesday, November 7th. The casino operator reported $1.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.69 by ($0.01). Wynn Resorts had a net margin of 8.92% and a return on equity of 56.04%. The business had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same period last year, the firm earned $1.52 EPS. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, equities analysts anticipate that Wynn Resorts, Limited will post 6.65 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Wednesday, November 21st will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 2.66%. The ex-dividend date of this dividend is Tuesday, November 20th. Wynn Resorts’s dividend payout ratio (DPR) is currently 54.95%.

In other Wynn Resorts news, Director Philip G. Satre purchased 9,800 shares of the stock in a transaction dated Tuesday, November 13th. The shares were bought at an average price of $103.01 per share, with a total value of $1,009,498.00. Following the completion of the transaction, the director now directly owns 100 shares in the company, valued at approximately $10,301. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.95% of the company’s stock.

A number of institutional investors have recently bought and sold shares of WYNN. BlackRock Inc. increased its holdings 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 acquiring an additional 641,845 shares during the period. Capital International Investors increased its holdings in Wynn Resorts by 33.3% during the 3rd quarter. Capital International Investors now owns 2,290,118 shares of the casino operator’s stock worth $290,982,000 after acquiring an additional 572,478 shares during the period. FMR LLC increased its holdings 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 acquiring an additional 520,025 shares during the period. Vanguard Group Inc. increased its holdings in Wynn Resorts by 4.6% during the 3rd quarter. Vanguard Group Inc. now owns 9,850,529 shares of the casino operator’s stock worth $1,251,608,000 after acquiring an additional 431,304 shares during the period. Finally, Renaissance Technologies LLC bought a new stake in Wynn Resorts during the 2nd quarter worth approximately $54,151,000. 71.48% of the stock is currently owned by institutional investors and hedge funds.

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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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