StockNews.com Downgrades Wynn Resorts (NASDAQ:WYNN) to Hold

StockNews.com downgraded shares of Wynn Resorts (NASDAQ:WYNN) from a buy rating to a hold rating in a research report report published on Tuesday morning.

A number of other research analysts have also issued reports on the stock. JPMorgan Chase & Co. lowered their target price on shares of Wynn Resorts from $110.00 to $101.00 and set an overweight rating on the stock in a research note on Wednesday, August 7th. Argus upgraded Wynn Resorts from a hold rating to a buy rating and set a $110.00 price objective on the stock in a research note on Thursday, May 23rd. Jefferies Financial Group cut their price objective on Wynn Resorts from $111.00 to $96.00 and set a hold rating for the company in a research report on Thursday, July 11th. Seaport Res Ptn raised Wynn Resorts from a hold rating to a strong-buy rating in a report on Thursday, May 30th. Finally, Stifel Nicolaus dropped their price target on Wynn Resorts from $121.00 to $103.00 and set a buy rating on the stock in a research report on Friday, September 13th. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued 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 an average price target of $113.73.

Wynn Resorts Stock Performance

WYNN opened at $79.71 on Tuesday. The company has a market cap of $8.85 billion, a PE ratio of 10.84, a price-to-earnings-growth ratio of 2.04 and a beta of 1.80. The stock has a 50-day moving average of $78.45 and a 200-day moving average of $89.88. Wynn Resorts has a 52-week low of $71.63 and a 52-week high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Tuesday, August 6th. The casino operator reported $1.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). Wynn Resorts had a negative return on equity of 53.84% and a net margin of 12.22%. The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same period in the previous year, the company earned $0.91 EPS. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. On average, research analysts predict that Wynn Resorts will post 5.44 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were paid a $0.25 dividend. The ex-dividend date was Monday, August 19th. This represents a $1.00 dividend on an annualized basis and a yield of 1.25%. Wynn Resorts’s payout ratio is currently 13.70%.

Insider Activity

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $78.73, for a total transaction of $208,634.50. Following the sale, the director now directly owns 5,689 shares of the company’s stock, valued at $447,894.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.52% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of Wynn Resorts by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 11,028,618 shares of the casino operator’s stock valued at $1,127,456,000 after purchasing an additional 166,594 shares during the last quarter. Fisher Asset Management LLC raised its stake in Wynn Resorts by 0.4% during the 4th quarter. Fisher Asset Management LLC now owns 3,928,031 shares of the casino operator’s stock worth $357,883,000 after buying an additional 16,799 shares during the period. Norges Bank bought a new stake in shares of Wynn Resorts in the fourth quarter worth about $157,305,000. Renaissance Technologies LLC raised its position in shares of Wynn Resorts by 29.1% during the second quarter. Renaissance Technologies LLC now owns 1,345,100 shares of the casino operator’s stock worth $120,386,000 after purchasing an additional 303,033 shares during the period. Finally, Janus Henderson Group PLC lifted its stake in Wynn Resorts by 22.2% in the first quarter. Janus Henderson Group PLC now owns 1,125,718 shares of the casino operator’s stock valued at $115,082,000 after buying an additional 204,852 shares in the last quarter. Institutional investors and hedge funds own 68.87% of the company’s stock.

Wynn Resorts Company Profile

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.