Zacks Investment Research lowered shares of Wynn Resorts (NASDAQ:WYNN) from a buy rating to a hold rating in a research report released on Wednesday.
According to Zacks, “Wynn Resorts posted solid fourth-quarter 2017 results with both the top and the bottom lines surpassing the Zacks Consensus Estimate. Both the top and the bottom lines improved year over year driven by strength in Macau operations (Wynn Palace and Wynn Macau) operations. Macau revenues increased owing to higher casino as well as non-casino revenues.Revenues from Las Vegas operations, however, decreased due lower casino and non-casino revenues. Wynn Resorts’ shares have outperformed its industry in the last year. Also, earnings estimates for 2018 have gone up in the past 60 days. However, a high-debt burden and increased competition remain potent headwinds for the company.”
Other analysts have also issued research reports about the stock. Roth Capital restated a neutral rating and set a $170.00 price target on shares of Wynn Resorts in a research note on Wednesday, February 7th. Morgan Stanley set a $193.00 price target on shares of Wynn Resorts and gave the company a hold rating in a research note on Wednesday. Barclays boosted their price target on shares of Wynn Resorts from $148.00 to $155.00 and gave the company an overweight rating in a research note on Friday, October 27th. JPMorgan Chase & Co. upgraded shares of Wynn Resorts from a neutral rating to an overweight rating in a research note on Wednesday, February 7th. Finally, BidaskClub lowered shares of Wynn Resorts from a buy rating to a hold rating in a research note on Wednesday, February 14th. Twelve equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $177.25.
Shares of Wynn Resorts (NASDAQ WYNN) opened at $166.36 on Wednesday. The firm has a market cap of $16,950.89, a price-to-earnings ratio of 30.88 and a beta of 1.59. The company has a debt-to-equity ratio of 24.54, a current ratio of 1.72 and a quick ratio of 1.68. Wynn Resorts has a one year low of $92.67 and a one year high of $203.63.
Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings data on Monday, January 22nd. The casino operator reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.07. The company had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.56 billion. Wynn Resorts had a net margin of 11.85% and a return on equity of 148.17%. Wynn Resorts’s revenue for the quarter was up 29.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.50 EPS. analysts expect that Wynn Resorts will post 7.62 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 27th. Shareholders of record on Thursday, February 15th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend is Wednesday, February 14th. Wynn Resorts’s dividend payout ratio is 27.51%.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. First Personal Financial Services boosted its holdings in shares of Wynn Resorts by 102.9% in the 3rd quarter. First Personal Financial Services now owns 710 shares of the casino operator’s stock worth $106,000 after buying an additional 360 shares during the last quarter. Mckinley Capital Management LLC Delaware purchased a new position in shares of Wynn Resorts in the 4th quarter worth about $171,000. Calton & Associates Inc. purchased a new position in shares of Wynn Resorts in the 4th quarter worth about $178,000. IBM Retirement Fund purchased a new position in shares of Wynn Resorts in the 4th quarter worth about $201,000. Finally, FDx Advisors Inc. purchased a new position in shares of Wynn Resorts in the 4th quarter worth about $203,000. 72.80% of the stock is currently owned by hedge funds and other institutional investors.
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Wynn Resorts Company Profile
Wynn Resorts, Limited (Wynn Resorts) is a developer, owner and operator of destination casino resorts that integrate accommodations and a range of amenities, including dining outlets, retail offerings, entertainment theaters and meeting complexes. The Company’s segments include Macau Operations and Las Vegas Operations.
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