Wynn Resorts (NASDAQ:WYNN) had its target price boosted by Credit Suisse Group from $120.00 to $125.00 in a research note issued to investors on Thursday morning, Stock Target Advisor reports. The brokerage currently has a neutral rating on the casino operator’s stock.
A number of other equities analysts have also recently commented on WYNN. Barclays decreased their target price on shares of Wynn Resorts from $157.00 to $150.00 and set an overweight rating on the stock in a research report on Thursday, September 12th. JPMorgan Chase & Co. lifted their target price on shares of Wynn Resorts from $136.00 to $143.00 and gave the stock an overweight rating in a research report on Thursday. BidaskClub upgraded shares of Wynn Resorts from a sell rating to a hold rating in a research report on Saturday, October 12th. Morgan Stanley decreased their target price on shares of Wynn Resorts from $129.00 to $115.00 and set an equal weight rating on the stock in a research report on Tuesday, September 17th. Finally, Nomura decreased their target price on shares of Wynn Resorts from $126.00 to $117.00 and set a buy rating on the stock in a research report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the stock. Wynn Resorts presently has a consensus rating of Buy and an average price target of $137.59.
Shares of Wynn Resorts stock traded up $0.98 on Thursday, reaching $126.47. 1,396,900 shares of the company traded hands, compared to its average volume of 2,073,250. The firm has a market capitalization of $13.62 billion, a PE ratio of 19.34, a PEG ratio of 2.43 and a beta of 2.07. The company has a 50 day moving average of $114.45 and a 200 day moving average of $120.37. Wynn Resorts has a 52 week low of $90.06 and a 52 week high of $151.50. The company has a debt-to-equity ratio of 5.00, a current ratio of 1.00 and a quick ratio of 0.95.
Wynn Resorts (NASDAQ:WYNN) last issued its earnings results on Wednesday, November 6th. The casino operator reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.73). The business had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.67 billion. Wynn Resorts had a return on equity of 34.98% and a net margin of 12.41%. Wynn Resorts’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.68 EPS. As a group, analysts anticipate that Wynn Resorts will post 5.21 earnings per share for the current year.
The company 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 $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date of this dividend is Wednesday, November 13th. Wynn Resorts’s payout ratio is 61.16%.
In other Wynn Resorts news, CEO Matt Maddox sold 25,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $110.24, for a total value of $2,756,000.00. Following 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 75,000 shares of company stock worth $8,750,250 in the last 90 days. Corporate insiders own 0.58% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the business. State of Michigan Retirement System increased its position in shares of Wynn Resorts by 0.4% in the third quarter. State of Michigan Retirement System now owns 23,270 shares of the casino operator’s stock valued at $2,530,000 after acquiring an additional 100 shares during the period. Golden State Wealth Management LLC boosted its stake in shares of Wynn Resorts by 27.1% during the 2nd quarter. Golden State Wealth Management LLC now owns 479 shares of the casino operator’s stock valued at $59,000 after purchasing an additional 102 shares in the last quarter. World Asset Management Inc boosted its stake in shares of Wynn Resorts by 1.5% during the 3rd quarter. World Asset Management Inc now owns 7,242 shares of the casino operator’s stock valued at $787,000 after purchasing an additional 105 shares in the last quarter. Cookson Peirce & Co. Inc. boosted its stake in shares of Wynn Resorts by 2.6% during the 2nd quarter. Cookson Peirce & Co. Inc. now owns 4,290 shares of the casino operator’s stock valued at $532,000 after purchasing an additional 110 shares in the last quarter. Finally, Northwest Investment Counselors LLC boosted its stake in shares of Wynn Resorts by 1.5% during the 3rd quarter. Northwest Investment Counselors LLC now owns 7,798 shares of the casino operator’s stock valued at $848,000 after purchasing an additional 116 shares in the last quarter. Hedge funds and other institutional investors 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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