Wynn Resorts (NASDAQ:WYNN) Price Target Cut to $138.00

Wynn Resorts (NASDAQ:WYNN) had its target price trimmed by Stifel Nicolaus from $139.00 to $138.00 in a report published on Thursday morning, Stock Target Advisor reports. The brokerage currently has a buy rating on the casino operator’s stock.

A number of other research analysts have also commented on WYNN. ValuEngine lowered Wynn Resorts from a hold rating to a sell rating in a research report on Monday, October 21st. Barclays decreased their price objective on Wynn Resorts from $157.00 to $150.00 and set an overweight rating on the stock in a research report on Thursday, September 12th. Credit Suisse Group increased their price objective on Wynn Resorts from $120.00 to $125.00 and gave the company a neutral rating in a research report on Thursday. JPMorgan Chase & Co. increased their price objective on Wynn Resorts from $136.00 to $143.00 and gave the company an overweight rating in a research report on Thursday. Finally, Union Gaming Research lowered Wynn Resorts from a buy rating to a hold rating and decreased their price objective for the company from $150.00 to $135.00 in a research report on Thursday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $137.59.

Wynn Resorts stock traded up $0.98 during trading hours on Thursday, hitting $126.47. The stock had a trading volume of 1,396,900 shares, compared to its average volume of 2,073,250. The company has a market cap of $13.62 billion, a PE ratio of 19.34, a price-to-earnings-growth ratio of 2.43 and a beta of 2.07. The company has a quick ratio of 0.95, a current ratio of 1.00 and a debt-to-equity ratio of 5.00. The company has a 50-day moving average of $114.45 and a two-hundred day moving average of $120.37. Wynn Resorts has a fifty-two week low of $90.06 and a fifty-two week high of $151.50.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Wednesday, November 6th. The casino operator reported $0.17 EPS for the quarter, missing the Zacks’ consensus estimate of $0.90 by ($0.73). The firm had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.67 billion. Wynn Resorts had a net margin of 12.41% and a return on equity of 34.98%. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.68 earnings per share. As a group, analysts forecast that Wynn Resorts will post 5.21 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Thursday, November 14th will be given a $1.00 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $4.00 annualized dividend and a dividend yield of 3.16%. Wynn Resorts’s dividend payout ratio is currently 61.16%.

In other news, CEO Matt Maddox sold 25,000 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $122.47, for a total value of $3,061,750.00. Following the transaction, the chief executive officer now directly owns 407,107 shares in the company, valued at approximately $49,858,394.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 75,000 shares of company stock worth $8,750,250 over the last 90 days. 0.58% of the stock is owned by corporate insiders.

Several large investors have recently bought and sold shares of WYNN. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in Wynn Resorts by 24.0% during the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 16,148 shares of the casino operator’s stock worth $2,002,000 after buying an additional 3,129 shares during the period. CSat Investment Advisory L.P. raised its stake in Wynn Resorts by 128.8% during the 2nd quarter. CSat Investment Advisory L.P. now owns 476 shares of the casino operator’s stock worth $60,000 after buying an additional 268 shares during the period. Gamco Investors INC. ET AL raised its stake in Wynn Resorts by 0.8% during the 2nd quarter. Gamco Investors INC. ET AL now owns 103,166 shares of the casino operator’s stock worth $12,792,000 after buying an additional 770 shares during the period. Livforsakringsbolaget Skandia Omsesidigt raised its stake in Wynn Resorts by 60.4% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,328 shares of the casino operator’s stock worth $165,000 after buying an additional 500 shares during the period. Finally, Beddow Capital Management Inc. raised its stake in Wynn Resorts by 0.3% during the 2nd quarter. Beddow Capital Management Inc. now owns 45,885 shares of the casino operator’s stock worth $5,689,000 after buying an additional 125 shares during the period. Institutional investors and hedge funds own 75.66% of the company’s stock.

Wynn Resorts Company Profile

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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Analyst Recommendations for Wynn Resorts (NASDAQ:WYNN)

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