Wynn Resorts (NASDAQ:WYNN) Lowered to Hold at StockNews.com

StockNews.com downgraded shares of Wynn Resorts (NASDAQ:WYNN) from a buy rating to a hold rating in a research report report published on Tuesday morning.

Several other research firms have also recently weighed in on WYNN. Deutsche Bank Aktiengesellschaft cut their target price on Wynn Resorts from $131.00 to $122.00 and set a buy rating for the company in a research note on Wednesday, August 7th. UBS Group upgraded Wynn Resorts to a hold rating in a research report on Friday, August 23rd. Seaport Res Ptn raised shares of Wynn Resorts from a hold rating to a strong-buy rating in a report on Thursday, May 30th. Wells Fargo & Company decreased their price target on shares of Wynn Resorts from $126.00 to $115.00 and set an overweight rating on the stock in a report on Wednesday, August 7th. Finally, Stifel Nicolaus dropped their price objective on shares of Wynn Resorts from $121.00 to $103.00 and set a buy rating for the company in a research note on Friday, September 13th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $113.73.

Wynn Resorts Stock Up 1.3 %

WYNN stock opened at $80.00 on Tuesday. Wynn Resorts has a 52 week low of $71.63 and a 52 week high of $110.38. The business has a 50-day simple moving average of $78.74 and a 200 day simple moving average of $90.17. The company has a market cap of $8.97 billion, a PE ratio of 10.96, a price-to-earnings-growth ratio of 1.93 and a beta of 1.80.

Wynn Resorts (NASDAQ:WYNN) last issued its earnings results on Tuesday, August 6th. The casino operator reported $1.12 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.02). The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.74 billion. Wynn Resorts had a net margin of 12.22% and a negative return on equity of 53.84%. Wynn Resorts’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.91 earnings per share. On average, analysts anticipate that Wynn Resorts will post 5.55 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were paid a $0.25 dividend. The ex-dividend date was Monday, August 19th. This represents a $1.00 annualized dividend and a dividend yield of 1.25%. Wynn Resorts’s dividend payout ratio is currently 13.70%.

Insider Activity at Wynn Resorts

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $78.73, for a total value of $208,634.50. Following the completion of the sale, the director now directly owns 5,689 shares in the company, valued at $447,894.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.52% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Empirical Finance LLC raised its position in shares of Wynn Resorts by 3.7% during the first quarter. Empirical Finance LLC now owns 3,220 shares of the casino operator’s stock worth $329,000 after purchasing an additional 114 shares during the period. EntryPoint Capital LLC raised its holdings in Wynn Resorts by 7.2% during the first quarter. EntryPoint Capital LLC now owns 1,738 shares of the casino operator’s stock worth $178,000 after buying an additional 117 shares during the last quarter. Fifth Third Bancorp lifted its stake in shares of Wynn Resorts by 8.5% in the second quarter. Fifth Third Bancorp now owns 1,536 shares of the casino operator’s stock valued at $137,000 after buying an additional 120 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Wynn Resorts by 2.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 5,540 shares of the casino operator’s stock valued at $496,000 after buying an additional 149 shares during the last quarter. Finally, Garde Capital Inc. increased its position in shares of Wynn Resorts by 10.1% during the first quarter. Garde Capital Inc. now owns 1,737 shares of the casino operator’s stock worth $177,000 after acquiring an additional 160 shares in the last quarter. Institutional investors own 68.87% of the company’s stock.

About Wynn Resorts

Wynn Resorts, Limited designs, develops, and operates integrated resorts. The company operates through four segments: Wynn Palace, Wynn Macau, Las Vegas Operations, and Encore Boston Harbor. The Wynn Palace segment operates private gaming salons and sky casinos; a luxury hotel tower with suites, and villas, including a health club, spa, salon, and pool; food and beverage outlets; retail space; meeting and convention space; and performance lake and floral art displays.