Wynn Resorts (NASDAQ:WYNN) Rating Lowered to Hold at StockNews.com

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

Other analysts also recently issued research reports about the stock. Wells Fargo & Company cut their price objective on shares of Wynn Resorts from $126.00 to $115.00 and set an overweight rating for the company in a report on Wednesday, August 7th. Seaport Res Ptn upgraded shares of Wynn Resorts from a hold rating to a strong-buy rating in a research note on Thursday, May 30th. Macquarie reiterated an outperform rating and set a $126.00 price target on shares of Wynn Resorts in a report on Wednesday, August 7th. UBS Group raised Wynn Resorts to a hold rating in a report on Friday, August 23rd. Finally, JPMorgan Chase & Co. dropped their target price on Wynn Resorts from $110.00 to $101.00 and set an overweight rating for the company in a research report on Wednesday, August 7th. Five investment 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 data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $113.73.

Wynn Resorts Trading Down 0.6 %

NASDAQ WYNN opened at $79.71 on Tuesday. Wynn Resorts has a 1 year low of $71.63 and a 1 year high of $110.38. The firm has a market capitalization of $8.85 billion, a P/E ratio of 10.84, a price-to-earnings-growth ratio of 2.04 and a beta of 1.80. The firm’s fifty day moving average price is $78.45 and its two-hundred day moving average price is $89.88.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Tuesday, August 6th. The casino operator reported $1.12 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). The business 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 firm’s revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the company posted $0.91 EPS. On average, research analysts anticipate that Wynn Resorts will post 5.44 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend was Monday, August 19th. Wynn Resorts’s dividend payout ratio (DPR) is 13.70%.

Insider Activity

In related news, Director Patricia Mulroy sold 2,650 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $78.73, for a total transaction of $208,634.50. Following the transaction, 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 SEC, which can be accessed through this hyperlink. 0.52% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Wynn Resorts

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. International Assets Investment Management LLC bought a new stake in Wynn Resorts in the 2nd quarter valued at about $25,000. ICA Group Wealth Management LLC acquired a new stake in shares of Wynn Resorts in the 4th quarter worth about $27,000. Register Financial Advisors LLC bought a new position in Wynn Resorts in the 1st quarter valued at about $37,000. Neo Ivy Capital Management acquired a new position in Wynn Resorts during the 4th quarter valued at about $40,000. Finally, Versant Capital Management Inc bought a new stake in Wynn Resorts during the 2nd quarter worth approximately $51,000. 68.87% of the stock is owned by institutional investors.

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.