Wynn Resorts (NASDAQ:WYNN) had its price target cut by Stifel Nicolaus from $139.00 to $138.00 in a report issued on Thursday, Stock Target Advisor reports. They currently have a buy rating on the casino operator’s stock.
Other research analysts have also issued reports about the company. Deutsche Bank set a $150.00 price target on Wynn Resorts and gave the company a buy rating in a research report on Wednesday, August 7th. BidaskClub raised Wynn Resorts from a sell rating to a hold rating in a research report on Saturday, October 12th. Standpoint Research began coverage on Wynn Resorts in a research report on Wednesday, September 4th. They set a buy rating on the stock. Credit Suisse Group upped their price target on Wynn Resorts from $120.00 to $125.00 and gave the company a neutral rating in a research report on Thursday. Finally, UBS Group dropped their price target on Wynn Resorts from $119.00 to $114.00 and set a neutral rating on the stock in a research report on Wednesday, August 21st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $137.59.
WYNN stock traded up $0.98 during trading on Thursday, reaching $126.47. 1,396,900 shares of the company’s stock were exchanged, compared to its average volume of 2,073,250. The company’s fifty day moving average price is $114.45 and its 200-day moving average price is $120.37. The firm has a market cap of $13.62 billion, a PE ratio of 19.34, a P/E/G ratio of 2.43 and a beta of 2.07. The company has a quick ratio of 0.95, a current ratio of 1.00 and a debt-to-equity ratio of 5.00. Wynn Resorts has a 1-year low of $90.06 and a 1-year high of $151.50.
Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Wednesday, November 6th. The casino operator reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.73). The company had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.67 billion. Wynn Resorts had a return on equity of 34.98% and a net margin of 12.41%. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period last year, the firm earned $1.68 earnings per share. As a group, sell-side analysts expect that Wynn Resorts will post 5.21 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Thursday, November 14th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $4.00 dividend on an annualized basis and a yield of 3.16%. Wynn Resorts’s dividend payout ratio (DPR) is currently 61.16%.
In other Wynn Resorts news, CEO Matt Maddox sold 25,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $110.24, for a total value of $2,756,000.00. Following the transaction, the chief executive officer now owns 432,731 shares in the company, valued at $47,704,265.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 75,000 shares of company stock worth $8,750,250 in the last 90 days. Corporate insiders own 0.58% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of WYNN. Egerton Capital UK LLP grew its stake in Wynn Resorts by 51.4% in the second quarter. Egerton Capital UK LLP now owns 3,487,638 shares of the casino operator’s stock valued at $432,432,000 after purchasing an additional 1,184,251 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Wynn Resorts by 9.9% in the second quarter. Price T Rowe Associates Inc. MD now owns 8,857,209 shares of the casino operator’s stock valued at $1,098,205,000 after purchasing an additional 801,270 shares in the last quarter. Nuveen Asset Management LLC bought a new stake in shares of Wynn Resorts during the 2nd quarter worth about $54,333,000. Hoplite Capital Management L.P. bought a new stake in shares of Wynn Resorts during the 2nd quarter worth about $29,677,000. Finally, Polaris Greystone Financial Group LLC bought a new stake in shares of Wynn Resorts during the 2nd quarter worth about $27,823,000. Hedge funds and other institutional investors own 75.66% of the company’s stock.
About Wynn Resorts
Wynn Resorts, Limited owns and operates destination casino resorts. As of February 20, 2019, the company's Wynn Palace segment had approximately 424,000 square feet of casino space, which offered 320 table games and 1,041 slot machines, private gaming salons, and sky casinos; a luxury hotel towers with 1,706 guest rooms, suites, and villas; 13 food and beverage outlets; 106,000 square feet of retail space; 37,000 square feet of meeting and convention space; recreation and leisure facilities comprising a gondola ride, health club, spa, salon, and pool; and public attractions, such as performance lake and floral art displays.
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