Jefferies Financial Group Cuts Wynn Resorts (NASDAQ:WYNN) Price Target to $105.00

Wynn Resorts (NASDAQ:WYNN) had its price objective reduced by Jefferies Financial Group from $109.00 to $105.00 in a research report released on Friday morning,Benzinga reports. Jefferies Financial Group currently has a hold rating on the casino operator’s stock.

A number of other research analysts also recently weighed in on WYNN. Morgan Stanley upped their price objective on shares of Wynn Resorts from $112.00 to $115.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Susquehanna increased their price target on Wynn Resorts from $92.00 to $122.00 and gave the stock a “positive” rating in a research report on Friday, October 11th. StockNews.com lowered Wynn Resorts from a “buy” rating to a “hold” rating in a report on Tuesday, September 17th. Barclays reduced their target price on Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Wynn Resorts from $101.00 to $113.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $116.36.

Wynn Resorts Stock Down 0.6 %

Wynn Resorts stock opened at $83.32 on Friday. The business’s 50-day moving average price is $91.04 and its 200 day moving average price is $87.39. The firm has a market cap of $9.15 billion, a price-to-earnings ratio of 10.27, a price-to-earnings-growth ratio of 3.46 and a beta of 1.77. Wynn Resorts has a 52 week low of $71.63 and a 52 week high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Monday, November 4th. The casino operator reported $0.90 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same period in the previous year, the business earned $0.99 EPS. Wynn Resorts’s revenue for the quarter was up 1.3% compared to the same quarter last year. Equities analysts expect that Wynn Resorts will post 4.79 EPS for the current year.

Wynn Resorts Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Friday, November 15th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend was Friday, November 15th. Wynn Resorts’s dividend payout ratio (DPR) is 12.33%.

Hedge Funds Weigh In On Wynn Resorts

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Fisher Asset Management LLC boosted its position in shares of Wynn Resorts by 70.7% during the 3rd quarter. Fisher Asset Management LLC now owns 3,971,846 shares of the casino operator’s stock valued at $380,821,000 after acquiring an additional 1,644,965 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Wynn Resorts by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,406,260 shares of the casino operator’s stock valued at $229,945,000 after purchasing an additional 34,907 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Wynn Resorts by 29.1% in the 2nd quarter. Renaissance Technologies LLC now owns 1,345,100 shares of the casino operator’s stock valued at $120,386,000 after buying an additional 303,033 shares during the period. Regal Partners Ltd increased its holdings in shares of Wynn Resorts by 24.0% during the 3rd quarter. Regal Partners Ltd now owns 898,705 shares of the casino operator’s stock worth $86,168,000 after buying an additional 174,005 shares during the last quarter. Finally, Holocene Advisors LP raised its position in shares of Wynn Resorts by 27,868.5% during the 3rd quarter. Holocene Advisors LP now owns 757,946 shares of the casino operator’s stock valued at $72,672,000 after buying an additional 755,236 shares during the period. Institutional investors and hedge funds own 88.64% 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.