Wynn Resorts (NASDAQ:WYNN) Price Target Cut to $103.00 by Analysts at Stifel Nicolaus

Wynn Resorts (NASDAQ:WYNN) had its price objective lowered by Stifel Nicolaus from $121.00 to $103.00 in a research report released on Friday, Benzinga reports. The firm currently has a buy rating on the casino operator’s stock.

A number of other research analysts have also recently issued reports on the stock. Macquarie restated an outperform rating and set a $126.00 price objective on shares of Wynn Resorts in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Wynn Resorts from $131.00 to $122.00 and set a buy rating for the company in a research report on Wednesday, August 7th. Morgan Stanley decreased their target price on Wynn Resorts from $107.00 to $97.00 and set an equal weight rating for the company in a research note on Wednesday, September 4th. JPMorgan Chase & Co. lowered their price target on Wynn Resorts from $110.00 to $101.00 and set an overweight rating for the company in a report on Wednesday, August 7th. Finally, Argus upgraded Wynn Resorts from a hold rating to a buy rating and set a $110.00 price objective for the company in a research report on Thursday, May 23rd. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $113.73.

Wynn Resorts Stock Performance

Shares of Wynn Resorts stock opened at $78.46 on Friday. Wynn Resorts has a 52 week low of $71.63 and a 52 week high of $110.38. The stock has a market capitalization of $8.71 billion, a price-to-earnings ratio of 10.75, a PEG ratio of 1.93 and a beta of 1.80. The firm has a fifty day moving average of $78.87 and a two-hundred day moving average of $90.53.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings data on Tuesday, August 6th. The casino operator reported $1.12 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.74 billion. Wynn Resorts had a net margin of 12.22% and a negative return on equity of 53.84%. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.91 EPS. As a group, research analysts forecast that Wynn Resorts will post 5.55 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.27%. The ex-dividend date was Monday, August 19th. Wynn Resorts’s payout ratio is 13.70%.

Institutional Investors Weigh In On Wynn Resorts

Institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank bought a new stake in shares of Wynn Resorts in the 4th quarter valued at about $157,305,000. Interval Partners LP lifted its position in shares of Wynn Resorts by 999.0% in the first quarter. Interval Partners LP now owns 400,911 shares of the casino operator’s stock valued at $40,985,000 after buying an additional 364,432 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Wynn Resorts by 29.1% during the 2nd quarter. Renaissance Technologies LLC now owns 1,345,100 shares of the casino operator’s stock worth $120,386,000 after acquiring an additional 303,033 shares during the period. Sequoia Financial Advisors LLC increased its holdings in shares of Wynn Resorts by 6,720.4% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 257,537 shares of the casino operator’s stock worth $23,050,000 after acquiring an additional 253,761 shares during the last quarter. Finally, Janus Henderson Group PLC raised its stake in Wynn Resorts by 22.2% in the 1st quarter. Janus Henderson Group PLC now owns 1,125,718 shares of the casino operator’s stock valued at $115,082,000 after acquiring an additional 204,852 shares during the period. Institutional investors own 68.87% of the company’s stock.

About Wynn Resorts

Wynn Resorts, Limited designs, develops, and operates integrated resorts. The company operates through four segments: Wynn Palace, Wynn Macau, Las Vegas Operations, and Encore Boston Harbor. The Wynn Palace segment operates private gaming salons and sky casinos; a luxury hotel tower with suites, and villas, including a health club, spa, salon, and pool; food and beverage outlets; retail space; meeting and convention space; and performance lake and floral art displays.