Wynn Resorts (NASDAQ:WYNN) had its target price hoisted by Credit Suisse Group from $120.00 to $125.00 in a research note published on Thursday, Stock Target Advisor reports. They currently have a neutral rating on the casino operator’s stock.
A number of other equities analysts have also weighed in on WYNN. Citigroup set a $141.00 target price on shares of Wynn Resorts and gave the stock a buy rating in a research report on Thursday, September 12th. Jefferies Financial Group upped their target price on shares of Wynn Resorts from $160.00 to $165.00 and gave the stock a buy rating in a research report on Thursday, July 11th. Nomura dropped their target price on shares of Wynn Resorts from $126.00 to $117.00 and set a buy rating for the company in a research report on Tuesday, October 8th. UBS Group dropped their target price on shares of Wynn Resorts from $119.00 to $114.00 and set a neutral rating for the company in a research report on Wednesday, August 21st. Finally, Union Gaming Research lowered shares of Wynn Resorts from a buy rating to a hold rating and dropped their target price for the stock from $150.00 to $135.00 in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $137.59.
Shares of WYNN traded up $0.98 during mid-day trading on Thursday, hitting $126.47. 1,396,900 shares of the company traded hands, compared to its average volume of 2,073,250. The company has a debt-to-equity ratio of 5.00, a quick ratio of 0.95 and a current ratio of 1.00. The stock has a 50-day moving average price of $114.45 and a two-hundred day moving average price of $120.37. Wynn Resorts has a 1 year low of $90.06 and a 1 year high of $151.50. The stock has a market cap of $13.62 billion, a price-to-earnings ratio of 19.34, a P/E/G ratio of 2.43 and a beta of 2.07.
Wynn Resorts (NASDAQ:WYNN) last issued its earnings results on Wednesday, November 6th. The casino operator reported $0.17 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.90 by ($0.73). Wynn Resorts had a return on equity of 34.98% and a net margin of 12.41%. The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the prior year, the company posted $1.68 EPS. Wynn Resorts’s revenue was down 3.6% compared to the same quarter last year. On average, analysts forecast that Wynn Resorts will post 5.21 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Thursday, November 14th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $4.00 annualized dividend and a yield of 3.16%. Wynn Resorts’s dividend payout ratio (DPR) is currently 61.16%.
In other Wynn Resorts news, CEO Matt Maddox sold 25,000 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $110.24, for a total transaction of $2,756,000.00. Following the completion of the transaction, the chief executive officer now owns 432,731 shares in the company, valued at $47,704,265.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 75,000 shares of company stock valued at $8,750,250 in the last quarter. 0.58% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Wynn Resorts by 0.9% in the second quarter. Vanguard Group Inc. now owns 9,853,472 shares of the casino operator’s stock valued at $1,221,733,000 after acquiring an additional 91,299 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Wynn Resorts by 9.9% in the second quarter. Price T Rowe Associates Inc. MD now owns 8,857,209 shares of the casino operator’s stock valued at $1,098,205,000 after acquiring an additional 801,270 shares during the period. Egerton Capital UK LLP raised its stake in shares of Wynn Resorts by 51.4% in the second quarter. Egerton Capital UK LLP now owns 3,487,638 shares of the casino operator’s stock valued at $432,432,000 after acquiring an additional 1,184,251 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Wynn Resorts by 0.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,327,357 shares of the casino operator’s stock valued at $144,311,000 after acquiring an additional 6,721 shares during the period. Finally, Northern Trust Corp raised its stake in shares of Wynn Resorts by 1.7% in the second quarter. Northern Trust Corp now owns 1,096,761 shares of the casino operator’s stock valued at $135,987,000 after acquiring an additional 18,478 shares during the period. Institutional investors and hedge funds own 75.66% of the company’s stock.
About Wynn Resorts
Wynn Resorts, Limited owns and operates destination casino resorts. As of February 20, 2019, the company's Wynn Palace segment had approximately 424,000 square feet of casino space, which offered 320 table games and 1,041 slot machines, private gaming salons, and sky casinos; a luxury hotel towers with 1,706 guest rooms, suites, and villas; 13 food and beverage outlets; 106,000 square feet of retail space; 37,000 square feet of meeting and convention space; recreation and leisure facilities comprising a gondola ride, health club, spa, salon, and pool; and public attractions, such as performance lake and floral art displays.
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