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

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

Several other equities analysts also recently weighed in on WYNN. JPMorgan Chase & Co. raised their target price on shares of Wynn Resorts from $101.00 to $113.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Wynn Resorts from $122.00 to $118.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Barclays raised their price target on shares of Wynn Resorts from $115.00 to $116.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Wells Fargo & Company decreased their price target on shares of Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Finally, Morgan Stanley decreased their price target on shares of Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating on the stock in a research note on Monday. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $119.58.

Wynn Resorts Trading Up 0.1 %

NASDAQ:WYNN opened at $91.10 on Wednesday. The firm has a 50-day moving average price of $85.35 and a two-hundred day moving average price of $87.66. Wynn Resorts has a twelve month low of $71.63 and a twelve month high of $110.38. The company has a market capitalization of $9.69 billion, a P/E ratio of 21.64, a price-to-earnings-growth ratio of 2.35 and a beta of 1.76.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Thursday, February 13th. The casino operator reported $2.42 earnings per share for the quarter, beating the consensus estimate of $1.27 by $1.15. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. The firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.78 billion. On average, equities research analysts predict that Wynn Resorts will post 5.17 earnings per share for the current year.

Wynn Resorts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Monday, February 24th will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.00 annualized dividend and a dividend yield of 1.10%. Wynn Resorts’s dividend payout ratio is presently 23.75%.

Insider Buying and Selling

In related news, Director Philip G. Satre bought 22,200 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were acquired at an average cost of $92.18 per share, with a total value of $2,046,396.00. Following the completion of the transaction, the director now owns 34,195 shares of the company’s stock, valued at approximately $3,152,095.10. The trade was a 185.08 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.52% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of WYNN. New Wave Wealth Advisors LLC acquired a new position in Wynn Resorts during the fourth quarter valued at approximately $26,000. Wilmington Savings Fund Society FSB acquired a new position in Wynn Resorts during the third quarter valued at approximately $31,000. SBI Securities Co. Ltd. acquired a new position in Wynn Resorts during the fourth quarter valued at approximately $36,000. Spire Wealth Management lifted its position in Wynn Resorts by 116.4% during the fourth quarter. Spire Wealth Management now owns 435 shares of the casino operator’s stock valued at $37,000 after buying an additional 234 shares in the last quarter. Finally, Canada Post Corp Registered Pension Plan acquired a new position in Wynn Resorts during the fourth quarter valued at approximately $45,000. 88.64% of the stock is owned by institutional investors and hedge funds.

Wynn Resorts Company Profile

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.