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

StockNews.com cut shares of Wynn Resorts (NASDAQ:WYNN) from a buy rating to a hold rating in a research report released on Wednesday morning.

Several other equities analysts also recently commented on the stock. Morgan Stanley lowered their price objective on shares of Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating for the company in a research note on Monday, February 24th. Stifel Nicolaus upped their price target on Wynn Resorts from $123.00 to $128.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Macquarie reiterated an “outperform” rating and issued a $115.00 price objective on shares of Wynn Resorts in a research report on Friday, February 14th. Barclays upped their target price on Wynn Resorts from $115.00 to $116.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Finally, Mizuho lifted their price target on shares of Wynn Resorts from $118.00 to $132.00 and gave the company an “outperform” rating in a report on Friday, February 14th. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $119.58.

Wynn Resorts Price Performance

Shares of Wynn Resorts stock opened at $86.18 on Wednesday. Wynn Resorts has a one year low of $71.63 and a one year high of $110.38. The business’s 50 day simple moving average is $85.47 and its two-hundred day simple moving average is $88.55. The stock has a market capitalization of $9.17 billion, a P/E ratio of 20.47, a price-to-earnings-growth ratio of 2.35 and a beta of 1.77.

Wynn Resorts (NASDAQ:WYNN) last issued its earnings results on Thursday, February 13th. The casino operator reported $2.42 EPS for the quarter, topping the consensus estimate of $1.27 by $1.15. The company had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.78 billion. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. Sell-side analysts expect that Wynn Resorts will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were given a dividend of $0.25 per share. The ex-dividend date was Monday, February 24th. This represents a $1.00 dividend on an annualized basis and a yield of 1.16%. Wynn Resorts’s dividend payout ratio (DPR) is currently 23.75%.

Insider Buying and Selling

In related news, Director Philip G. Satre purchased 22,200 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were purchased at an average cost of $92.18 per share, with a total value of $2,046,396.00. Following the transaction, the director now directly owns 34,195 shares in the company, valued at $3,152,095.10. This trade represents a 185.08 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.52% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. New Wave Wealth Advisors LLC purchased a new stake in shares of Wynn Resorts in the fourth quarter worth $26,000. Wilmington Savings Fund Society FSB purchased a new stake in Wynn Resorts during the 3rd quarter valued at about $31,000. SBI Securities Co. Ltd. bought a new stake in Wynn Resorts during the 4th quarter valued at about $36,000. Spire Wealth Management raised its holdings in Wynn Resorts by 116.4% in the fourth quarter. Spire Wealth Management now owns 435 shares of the casino operator’s stock worth $37,000 after buying an additional 234 shares during the last quarter. Finally, Canada Post Corp Registered Pension Plan bought a new position in shares of Wynn Resorts in the fourth quarter worth approximately $45,000. Hedge funds and other institutional investors own 88.64% 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.