Wynn Resorts (NASDAQ:WYNN) Price Target Cut to $122.00 by Analysts at Wells Fargo & Company

Wynn Resorts (NASDAQ:WYNN) had its price target reduced by Wells Fargo & Company from $125.00 to $122.00 in a report published on Friday,Benzinga reports. They currently have an overweight rating on the casino operator’s stock.

WYNN has been the topic of several other reports. Barclays decreased their target price on shares of Wynn Resorts from $136.00 to $128.00 and set an “overweight” rating on the stock in a research report on Friday, October 9th. Zacks Research raised Wynn Resorts from a “strong sell” rating to a “hold” rating in a research report on Monday, August 10th. Morgan Stanley decreased their target price on Wynn Resorts from $128.00 to $120.00 and set an “overweight” rating for the company in a research report on Monday, October 19th. Citigroup decreased their target price on Wynn Resorts from $135.00 to $103.00 and set a “buy” rating for the company in a research report on Monday, October 12th. Finally, Argus boosted their target price on shares of Wynn Resorts from $115.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. One equities research 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 company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $121.24.

Wynn Resorts Stock Up 4.8%

WYNN stock traded up $3.79 during mid-day trading on Friday, hitting $83.11. The company had a trading volume of 5,045,645 shares, compared to its average volume of 2,140,233. The company has a market capitalization of $8.56 billion, a price-to-earnings ratio of 24.81, a P/E/G ratio of 0.93 and a beta of 0.96. The company has a 50-day moving average price of $80.68 and a 200 day moving average price of $97.68. Wynn Resorts has a 12-month low of $70.79 and a 12-month high of $134.72.

Wynn Resorts (NASDAQ:WYNN) last issued its earnings results on Thursday, November 5th. The casino operator reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.19). The firm had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.75 billion. Wynn Resorts had a negative return on equity of 46.52% and a net margin of 6.05%. The company’s revenue for the quarter was down 7.9% compared to the same quarter last year. During the same period last year, the firm posted $0.86 earnings per share. As a group, analysts expect that Wynn Resorts will post 4.26 EPS for the current year.

Wynn Resorts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 30th. Stockholders of record on Monday, November 16th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, November 16th. This represents a $1.00 annualized dividend and a dividend yield of 1.2%. Wynn Resorts’s dividend payout ratio (DPR) is currently 29.85%.

Institutional Trading of Wynn Resorts

A number of hedge funds have recently added to or reduced their stakes in WYNN. BlackRock Inc. bought a new position in Wynn Resorts during the 2nd quarter worth about $609,566,000. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of Wynn Resorts in the 2nd quarter valued at about $321,402,000. Alyeska Investment Group L.P. bought a new stake in shares of Wynn Resorts in the 2nd quarter valued at about $99,277,000. Bank of America Corp DE bought a new stake in shares of Wynn Resorts in the 2nd quarter valued at about $74,504,000. Finally, Bamco Inc. NY purchased a new stake in shares of Wynn Resorts in the 2nd quarter worth approximately $67,219,000. 88.64% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Wynn Resorts

Here are the key news stories impacting Wynn Resorts this week:

• Positive Sentiment: Wynn said its Al Marjan Island resort in the UAE remains on track for a September 2027 opening. Continued progress may support its longer-term growth outlook, though the project requires substantial additional equity funding. Article: Wynn outlines remaining Al Marjan equity
• Positive Sentiment: The company declared a quarterly cash dividend of $0.25 per share, payable November 30 to shareholders of record November 16. Article: Wynn Resorts declares quarterly cash dividend
• Neutral Sentiment: Several analysts lowered price targets after the results but maintained positive ratings. Deutsche Bank kept Buy at $116; Macquarie retained Outperform at $128; Barclays and Wells Fargo maintained Overweight at $120 and $122, respectively. Other target cuts included Jefferies to $132 and Mizuho to $129. The ratings remain supportive, but the reductions reflect a more cautious outlook. Article: Deutsche Bank adjusts Wynn Resorts price target
• Negative Sentiment: Third-quarter revenue fell 7.9% year over year to $1.69 billion, missing estimates, and EPS of $0.33 also came in below expectations and was down from $0.86 a year earlier. Softer Macau gaming, unfavorable Las Vegas hold and Boston labor disruptions weighed on results, with declines reported across all four operating segments. Article: Wynn Resorts Q3 earnings miss estimates
• Negative Sentiment: Wynn is maintaining its UAE opening timetable amid war-related uncertainty, while the project’s rising investment and remaining equity needs add funding and execution risk. Article: Wynn holds UAE casino date amid war

Wynn Resorts Company Profile

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.