Wynn Resorts (WYNN) – Research Analysts’ Weekly Ratings Changes

Posted by Irma Garcia on Nov 13th, 2024

Several brokerages have updated their recommendations and price targets on shares of Wynn Resorts (NASDAQ: WYNN) in the last few weeks:

11/5/2024 – Wynn Resorts had its price target raised by analysts at JPMorgan Chase & Co. from $101.00 to $113.00. They now have an “overweight” rating on the stock.
11/5/2024 – Wynn Resorts had its price target lowered by analysts at Wells Fargo & Company from $125.00 to $122.00. They now have an “overweight” rating on the stock.
11/5/2024 – Wynn Resorts had its price target lowered by analysts at Barclays PLC from $125.00 to $119.00. They now have an “overweight” rating on the stock.
11/5/2024 – Wynn Resorts had its “outperform” rating reaffirmed by analysts at Macquarie. They now have a $120.00 price target on the stock.
11/5/2024 – Wynn Resorts had its price target lowered by analysts at Deutsche Bank Aktiengesellschaft from $122.00 to $118.00. They now have a “buy” rating on the stock.
10/22/2024 – Wynn Resorts had its price target raised by analysts at Morgan Stanley from $112.00 to $115.00. They now have an “overweight” rating on the stock.
10/17/2024 – Wynn Resorts had its price target raised by analysts at Wells Fargo & Company from $115.00 to $125.00. They now have an “overweight” rating on the stock.
10/17/2024 – Wynn Resorts had its price target raised by analysts at Barclays PLC from $108.00 to $125.00. They now have an “overweight” rating on the stock.
10/11/2024 – Wynn Resorts had its price target raised by analysts at Susquehanna from $92.00 to $122.00. They now have a “positive” rating on the stock.
10/11/2024 – Wynn Resorts had its price target raised by analysts at Morgan Stanley from $104.00 to $112.00. They now have an “overweight” rating on the stock.
9/27/2024 – Wynn Resorts was upgraded by analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating. They now have a $104.00 price target on the stock, up previously from $97.00.
9/17/2024 – Wynn Resorts was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.

Wynn Resorts Stock Performance

Shares of WYNN stock traded up $0.30 during mid-day trading on Wednesday, hitting $85.80. The company’s stock had a trading volume of 2,412,997 shares, compared to its average volume of 2,190,599. Wynn Resorts, Limited has a 52-week low of $71.63 and a 52-week high of $110.38. The business has a 50-day moving average price of $91.35 and a 200 day moving average price of $88.29. The stock has a market cap of $9.42 billion, a price-to-earnings ratio of 10.58, a PEG ratio of 3.08 and a beta of 1.80.

Wynn Resorts (NASDAQ:WYNN – Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The casino operator reported $0.90 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.11). Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. The business had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the prior year, the firm earned $0.99 EPS. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. Equities research analysts predict that Wynn Resorts, Limited will post 4.87 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Friday, November 15th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend is Friday, November 15th. Wynn Resorts’s dividend payout ratio (DPR) is presently 12.33%.

Insider Activity at Wynn Resorts

In related news, Director Patricia Mulroy sold 2,650 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $78.73, for a total transaction of $208,634.50. Following the completion of the sale, the director now owns 5,689 shares in the company, valued at approximately $447,894.97. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.52% of the stock is owned by company insiders.

Institutional Trading of Wynn Resorts

Hedge funds have recently bought and sold shares of the company. Sei Investments Co. increased its position in Wynn Resorts by 5.6% in the first quarter. Sei Investments Co. now owns 139,038 shares of the casino operator’s stock worth $14,214,000 after buying an additional 7,380 shares in the last quarter. UniSuper Management Pty Ltd increased its position in Wynn Resorts by 540.6% in the first quarter. UniSuper Management Pty Ltd now owns 10,179 shares of the casino operator’s stock worth $1,041,000 after buying an additional 8,590 shares in the last quarter. Vanguard Group Inc. increased its position in Wynn Resorts by 1.5% in the first quarter. Vanguard Group Inc. now owns 11,028,618 shares of the casino operator’s stock worth $1,127,456,000 after buying an additional 166,594 shares in the last quarter. Cetera Investment Advisers increased its position in Wynn Resorts by 326.5% in the first quarter. Cetera Investment Advisers now owns 25,980 shares of the casino operator’s stock worth $2,656,000 after buying an additional 19,889 shares in the last quarter. Finally, MBB Public Markets I LLC purchased a new stake in Wynn Resorts in the second quarter worth about $698,000. Hedge funds and other institutional investors own 68.87% of the company’s stock.

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.