Wynn Resorts (NASDAQ:WYNN) had its price target lifted by Morgan Stanley from $115.00 to $120.00 in a report released on Thursday, Stock Target Advisor reports. Morgan Stanley currently has an equal weight rating on the casino operator’s stock.
Several other research analysts have also recently issued reports on WYNN. UBS Group cut their target price 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. Citigroup set a $141.00 target price on Wynn Resorts and gave the company a buy rating in a research report on Thursday, September 12th. BidaskClub raised Wynn Resorts from a sell rating to a hold rating in a research report on Saturday, October 12th. Nomura cut their target price on Wynn Resorts from $126.00 to $117.00 and set a buy rating on the stock in a research report on Tuesday, October 8th. Finally, Credit Suisse Group lifted their target price on Wynn Resorts from $120.00 to $125.00 and gave the company a neutral rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the company. Wynn Resorts presently has a consensus rating of Buy and a consensus target price of $137.59.
Shares of WYNN traded up $0.98 during mid-day trading on Thursday, reaching $126.47. 1,396,900 shares of the company were exchanged, compared to its average volume of 2,073,250. The stock has a market capitalization of $13.62 billion, a PE ratio of 19.34, a PEG ratio of 2.43 and a beta of 2.07. Wynn Resorts has a 52 week low of $90.06 and a 52 week high of $151.50. The business has a 50 day simple moving average of $114.45 and a two-hundred day simple moving average of $120.37. The company has a debt-to-equity ratio of 5.00, a quick ratio of 0.95 and a current ratio of 1.00.
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 the Thomson Reuters’ consensus estimate of $0.90 by ($0.73). The company had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.67 billion. Wynn Resorts had a net margin of 12.41% and a return on equity of 34.98%. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.68 EPS. On average, analysts predict that Wynn Resorts will post 5.21 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Thursday, November 14th will be given a $1.00 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $4.00 annualized dividend and a yield of 3.16%. Wynn Resorts’s dividend payout ratio is currently 61.16%.
In other Wynn Resorts news, CEO Matt Maddox sold 25,000 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at $47,704,265.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders sold 75,000 shares of company stock worth $8,750,250. Insiders own 0.58% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Wynn Resorts by 0.9% in the second quarter. Vanguard Group Inc. now owns 9,853,472 shares of the casino operator’s stock worth $1,221,733,000 after purchasing an additional 91,299 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Wynn Resorts by 9.9% during the 2nd 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 buying an additional 801,270 shares during the last quarter. Egerton Capital UK LLP lifted its position in shares of Wynn Resorts by 51.4% during the 2nd quarter. Egerton Capital UK LLP now owns 3,487,638 shares of the casino operator’s stock valued at $432,432,000 after buying an additional 1,184,251 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Wynn Resorts by 0.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,327,357 shares of the casino operator’s stock valued at $144,311,000 after buying an additional 6,721 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of Wynn Resorts by 1.7% during the 2nd quarter. Northern Trust Corp now owns 1,096,761 shares of the casino operator’s stock valued at $135,987,000 after buying an additional 18,478 shares during the last quarter. 75.66% of the stock is currently owned by institutional investors and hedge funds.
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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