Wynn Resorts (NASDAQ:WYNN) had its price objective cut by Stifel Nicolaus from $139.00 to $138.00 in a research note issued to investors on Thursday morning, Stock Target Advisor reports. They currently have a buy rating on the casino operator’s stock.
Other equities analysts also recently issued reports about the company. Union Gaming Research downgraded Wynn Resorts from a buy rating to a hold rating and reduced their price target for the stock from $150.00 to $135.00 in a research report on Thursday. Goldman Sachs Group raised Wynn Resorts from a neutral rating to a buy rating and upped their price target for the stock from $140.00 to $155.00 in a research report on Tuesday, September 24th. Deutsche Bank set a $150.00 price target on Wynn Resorts and gave the stock a buy rating in a research report on Wednesday, August 7th. UBS Group reduced 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. Finally, Barclays reduced their price target on Wynn Resorts from $157.00 to $150.00 and set an overweight rating on the stock in a research report on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $137.59.
Shares of NASDAQ:WYNN traded up $0.98 during trading hours on Thursday, hitting $126.47. 1,396,900 shares of the company’s stock traded hands, compared to its average volume of 2,073,250. The business has a fifty day moving average price of $114.45 and a 200-day moving average price of $120.37. The firm has a market capitalization of $13.62 billion, a P/E ratio of 19.34, a price-to-earnings-growth ratio of 2.43 and a beta of 2.07. The company has a debt-to-equity ratio of 5.00, a current ratio of 1.00 and a quick ratio of 0.95. Wynn Resorts has a 1 year low of $90.06 and a 1 year high of $151.50.
Wynn Resorts (NASDAQ:WYNN) last issued its quarterly 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 business 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 business’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.68 earnings per share. As a group, equities analysts predict that Wynn Resorts will post 5.21 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Thursday, November 14th will be given a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 3.16%. The ex-dividend date is Wednesday, November 13th. Wynn Resorts’s payout ratio is 61.16%.
In related news, CEO Matt Maddox sold 25,000 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $122.47, for a total value of $3,061,750.00. Following the transaction, the chief executive officer now directly owns 407,107 shares of the company’s stock, valued at approximately $49,858,394.29. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last three months, insiders sold 75,000 shares of company stock worth $8,750,250. 0.58% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of WYNN. Egerton Capital UK LLP boosted its holdings 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 during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings 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 during the last quarter. Nuveen Asset Management LLC purchased a new stake in Wynn Resorts in the second quarter valued at $54,333,000. Hoplite Capital Management L.P. purchased a new stake in Wynn Resorts in the second quarter valued at $29,677,000. Finally, Polaris Greystone Financial Group LLC purchased a new stake in Wynn Resorts in the second quarter valued at $27,823,000. 75.66% of the stock is currently owned by institutional investors.
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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