Wynn Resorts (NASDAQ:WYNN – Free Report) had its target price trimmed by JPMorgan Chase & Co. from $115.00 to $112.00 in a research report sent to investors on Friday,Benzinga reports. The brokerage currently has an overweight rating on the casino operator’s stock.
WYNN has been the topic of several other reports. Wells Fargo & Company cut their target price on Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating on the stock in a research report on Friday. Stifel Nicolaus set a $110.00 price target on Wynn Resorts in a research report on Friday. Citigroup dropped their price target on Wynn Resorts from $135.00 to $103.00 and set a “buy” rating for the company in a research note on Monday, October 12th. Truist Financial cut their price objective on Wynn Resorts from $125.00 to $110.00 and set a “buy” rating on the stock in a report on Tuesday, October 20th. Finally, UBS Group set a $120.00 price objective on Wynn Resorts in a research note on Tuesday, October 20th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $121.06.
Check Out Our Latest Report on Wynn Resorts
Wynn Resorts Price Performance
NASDAQ WYNN opened at $83.11 on Friday. Wynn Resorts has a fifty-two week low of $70.79 and a fifty-two week high of $134.72. The business has a fifty day moving average of $80.68 and a 200-day moving average of $97.68. The stock has a market cap of $8.56 billion, a price-to-earnings ratio of 24.81, a price-to-earnings-growth ratio of 1.02 and a beta of 0.96.
Wynn Resorts (NASDAQ:WYNN – Get Free Report) last released its earnings results on Thursday, November 5th. The casino operator reported $0.33 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 analysts’ expectations of $1.75 billion. Wynn Resorts had a negative return on equity of 42.73% and a net margin of 5.20%. The firm’s revenue was down 7.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.86 earnings per share. As a group, analysts anticipate that Wynn Resorts will post 4.24 EPS for the current year.
Wynn Resorts Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 30th. Shareholders of record on Monday, November 16th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Monday, November 16th. Wynn Resorts’s dividend payout ratio (DPR) is 29.85%.
Institutional Investors Weigh In On Wynn Resorts
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Operose Advisors LLC raised its stake in Wynn Resorts by 400.0% during the second quarter. Operose Advisors LLC now owns 500 shares of the casino operator’s stock valued at $49,000 after buying an additional 400 shares in the last quarter. Parallel Advisors LLC grew its position in shares of Wynn Resorts by 18.5% in the 1st quarter. Parallel Advisors LLC now owns 756 shares of the casino operator’s stock worth $77,000 after acquiring an additional 118 shares in the last quarter. Optiver Holding B.V. acquired a new position in shares of Wynn Resorts in the 1st quarter worth approximately $90,000. GKV Capital Management Co. Inc. acquired a new position in shares of Wynn Resorts in the 1st quarter worth approximately $102,000. Finally, Allworth Financial LP bought a new stake in shares of Wynn Resorts in the 2nd quarter valued at approximately $108,000. Institutional investors own 88.64% of the company’s stock.
About Wynn Resorts
Wynn Resorts, Limited develops and operates luxury hotels and casino resorts. Its properties offer gaming, hotel accommodations, restaurants, retail, entertainment, and convention and meeting facilities.
The company’s portfolio includes Wynn Las Vegas and Encore in Nevada, Encore Boston Harbor in Massachusetts, and Wynn Macau and Wynn Palace in Macau. Its operations therefore span the United States and Macau, a special administrative region of China.
Founded in 2002, Wynn Resorts opened Wynn Las Vegas in 2005.
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