Wynn Resorts (NASDAQ:WYNN) Stock Gets Price Target Reduction from Stifel Nicolaus

by · The Markets Daily

Wynn Resorts (NASDAQ:WYNN – Free Report) had its target price cut by Stifel Nicolaus from $143.00 to $120.00 in a research note released on Tuesday morning,Benzinga reports. They currently have a buy rating on the casino operator’s stock.

Several other equities research analysts also recently issued reports on the company. Mizuho cut their price target on Wynn Resorts from $133.00 to $125.00 and set an “outperform” rating for the company in a report on Tuesday, July 28th. UBS Group set a $120.00 price objective on shares of Wynn Resorts in a report on Tuesday. Wolfe Research began coverage on shares of Wynn Resorts in a research report on Wednesday, September 2nd. They issued an “outperform” rating and a $128.00 price objective on the stock. Wells Fargo & Company dropped their price objective on shares of Wynn Resorts from $131.00 to $125.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, Zacks Research upgraded shares of Wynn Resorts from a “strong sell” rating to a “hold” rating in a research note on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Wynn Resorts has an average rating of “Moderate Buy” and a consensus target price of $124.88.

View Our Latest Stock Report on WYNN

Wynn Resorts Stock Down 0.8%

WYNN opened at $75.13 on Tuesday. Wynn Resorts has a 12-month low of $73.07 and a 12-month high of $134.72. The business has a 50 day moving average of $85.62 and a 200-day moving average of $95.89. The stock has a market cap of $7.74 billion, a price-to-earnings ratio of 18.64, a PEG ratio of 0.89 and a beta of 0.96.

Wynn Resorts (NASDAQ:WYNN – Get Free Report) last posted its earnings results on Tuesday, August 4th. The casino operator reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.25. Wynn Resorts had a negative return on equity of 46.52% and a net margin of 6.05%. The business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same period in the previous year, the firm earned $1.09 EPS. The firm’s revenue was up 6.9% compared to the same quarter last year. As a group, analysts expect that Wynn Resorts will post 4.35 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.3%. Wynn Resorts’s dividend payout ratio is presently 24.81%.

Institutional Trading of Wynn Resorts

Several hedge funds have recently added to or reduced their stakes in WYNN. BlackRock Inc. acquired a new position in Wynn Resorts in the 2nd quarter valued at $609,566,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in Wynn Resorts during the 2nd quarter worth $321,402,000. State Street Corp lifted its holdings in shares of Wynn Resorts by 2.6% during the second quarter. State Street Corp now owns 3,047,930 shares of the casino operator’s stock worth $295,924,000 after buying an additional 77,416 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Wynn Resorts by 17.4% during the first quarter. Renaissance Technologies LLC now owns 1,239,956 shares of the casino operator’s stock worth $125,918,000 after buying an additional 184,000 shares in the last quarter. Finally, Alyeska Investment Group L.P. acquired a new stake in shares of Wynn Resorts during the second quarter worth $99,277,000. 88.64% of the stock is owned by institutional investors and hedge funds.

Wynn Resorts Company Profile

(Get Free Report)

Wynn Resorts, Ltd. is a developer and operator of luxury integrated resorts, with a focus on destination casinos, hotels, restaurants, entertainment venues, retail, and convention facilities. Its properties are designed to combine gaming with premium hospitality and leisure experiences.

The company operates Wynn Las Vegas and Encore Las Vegas in Nevada, Encore Boston Harbor in Massachusetts, and Wynn Macau and Wynn Palace in Macau. These resorts serve visitors in the United States and international markets, offering accommodations, casino gaming, dining, nightlife, retail, spas, entertainment, and meeting and convention services.

Wynn Resorts was founded in 2002 by casino executive Steve Wynn.

Further Reading