Wynn Resorts (NASDAQ:WYNN) Hits New 12-Month Low – Here’s What Happened

Wynn Resorts, Limited (NASDAQ:WYNN)’s share price reached a new 52-week low during trading on Wednesday . The company traded as low as $86.58 and last traded at $86.71, with a volume of 1766701 shares traded. The stock had previously closed at $87.76.

Analyst Upgrades and Downgrades

WYNN has been the topic of a number of analyst reports. Stifel Nicolaus set a $143.00 price objective on Wynn Resorts in a research note on Wednesday, August 5th. Citigroup restated a “buy” rating on shares of Wynn Resorts in a research note on Thursday, August 6th. UBS Group reduced their target price on Wynn Resorts from $145.00 to $138.00 and set a “buy” rating for the company in a report on Friday, September 11th. Wells Fargo & Company decreased their price target on Wynn Resorts from $141.00 to $131.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 5th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Wynn Resorts in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $133.35.

Wynn Resorts Price Performance

The stock has a market cap of $8.54 billion, a P/E ratio of 20.59, a PEG ratio of 1.01 and a beta of 1.00. The firm’s fifty day moving average price is $96.27 and its two-hundred day moving average price is $100.07.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data on Tuesday, August 4th. The casino operator reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.25. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.83 billion. Wynn Resorts had a negative return on equity of 46.52% and a net margin of 6.05%.The firm’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the company earned $1.09 earnings per share. On average, research analysts expect that Wynn Resorts, Limited will post 4.55 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Friday, August 14th. Wynn Resorts’s dividend payout ratio (DPR) is 24.81%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new position in shares of Wynn Resorts during the 2nd quarter valued at about $609,566,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in Wynn Resorts during the second quarter valued at approximately $321,402,000. Egerton Capital UK LLP bought a new position in Wynn Resorts during the fourth quarter valued at approximately $249,053,000. Alyeska Investment Group L.P. purchased a new position in shares of Wynn Resorts during the second quarter worth approximately $99,277,000. Finally, Norges Bank purchased a new position in shares of Wynn Resorts during the fourth quarter worth approximately $122,696,000. 88.64% of the stock is currently owned by institutional investors.

Wynn Resorts Company Profile

Wynn Resorts, Ltd. is a global luxury hospitality and entertainment company that develops and operates integrated resorts. Its properties combine casino gaming with hotel accommodations, fine dining, retail shopping, nightlife, entertainment, spas and meeting facilities.

The company operates Wynn Las Vegas and Encore Las Vegas in Nevada, Encore Boston Harbor in Massachusetts, and Wynn Macau and Encore Macau in Macau. These properties serve leisure and business travelers, gaming customers and convention guests across the United States and Asia.

Founded in 2002 by casino executive Steve Wynn, Wynn Resorts has expanded its portfolio through destination resorts focused on premium service and design.