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 note issued to investors on Wednesday morning.

A number of other analysts have also issued reports on WYNN. Macquarie reaffirmed an “outperform” rating and issued a $115.00 target price on shares of Wynn Resorts in a report on Friday, February 14th. Morgan Stanley decreased their price objective on Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating on the stock in a report on Monday, February 24th. Stifel Nicolaus lifted their price objective on Wynn Resorts from $123.00 to $128.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Barclays lifted their price objective on Wynn Resorts from $115.00 to $116.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Finally, Jefferies Financial Group raised Wynn Resorts from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $105.00 to $118.00 in a report on Tuesday, February 18th. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $119.58.

Wynn Resorts Stock Down 2.0 %

WYNN opened at $85.67 on Wednesday. The firm has a market capitalization of $9.12 billion, a P/E ratio of 20.35, a price-to-earnings-growth ratio of 2.35 and a beta of 1.77. The stock’s 50 day moving average price is $85.42 and its two-hundred day moving average price is $88.52. Wynn Resorts has a 12-month low of $71.63 and a 12-month high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Thursday, February 13th. The casino operator reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $1.15. The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.78 billion. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. As a group, analysts anticipate that Wynn Resorts will post 5.17 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were paid a dividend of $0.25 per share. The ex-dividend date was Monday, February 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.17%. Wynn Resorts’s dividend payout ratio (DPR) is presently 23.75%.

Insider Buying and Selling

In related news, Director Philip G. Satre acquired 22,200 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was acquired at an average cost of $92.18 per share, with a total value of $2,046,396.00. Following the completion of the purchase, the director now directly owns 34,195 shares in the company, valued at approximately $3,152,095.10. This trade represents a 185.08 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.52% of the stock is owned by insiders.

Institutional Investors Weigh In On Wynn Resorts

Institutional investors have recently made changes to their positions in the stock. Siemens Fonds Invest GmbH acquired a new position in Wynn Resorts in the fourth quarter valued at about $115,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Wynn Resorts in the fourth quarter valued at about $1,361,000. Heck Capital Advisors LLC acquired a new position in Wynn Resorts in the fourth quarter valued at about $386,000. Mackenzie Financial Corp acquired a new position in Wynn Resorts in the fourth quarter valued at about $282,000. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its stake in Wynn Resorts by 18.4% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,125,668 shares of the casino operator’s stock valued at $269,308,000 after acquiring an additional 485,204 shares during the period. 88.64% of the stock is owned by institutional investors and hedge funds.

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.