Wynn Resorts (NASDAQ:WYNN) had its price target boosted by Credit Suisse Group from $120.00 to $125.00 in a research note released on Thursday morning, Stock Target Advisor reports. Credit Suisse Group currently has a neutral rating on the casino operator’s stock.
Several other equities analysts have also recently issued reports on the stock. Standpoint Research initiated coverage on shares of Wynn Resorts in a research note on Wednesday, September 4th. They issued a buy rating on the stock. Jefferies Financial Group lifted their price objective on shares of Wynn Resorts from $160.00 to $165.00 and gave the stock a buy rating in a research note on Thursday, July 11th. Nomura lowered their price objective on shares of Wynn Resorts from $126.00 to $117.00 and set a buy rating on the stock in a research note on Tuesday, October 8th. Union Gaming Research cut shares of Wynn Resorts from a buy rating to a hold rating and lowered their price objective for the stock from $150.00 to $135.00 in a research note on Thursday. Finally, Deutsche Bank set a $150.00 price objective on shares of Wynn Resorts and gave the stock a buy rating in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $137.59.
Shares of Wynn Resorts stock traded up $0.98 during trading hours on Thursday, reaching $126.47. The company’s stock had a trading volume of 1,396,900 shares, compared to its average volume of 2,073,250. The company’s 50 day simple moving average is $114.45 and its 200 day simple moving average is $120.37. The stock has a market cap of $13.62 billion, a P/E ratio of 19.34, a price-to-earnings-growth ratio of 2.43 and a beta of 2.07. The company has a debt-to-equity ratio of 5.00, a quick ratio of 0.95 and a current ratio of 1.00. Wynn Resorts has a one year low of $90.06 and a one year high of $151.50.
Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Wednesday, November 6th. The casino operator reported $0.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.90 by ($0.73). The business had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.67 billion. Wynn Resorts had a return on equity of 34.98% and a net margin of 12.41%. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.68 EPS. On average, sell-side analysts predict that Wynn Resorts will post 5.21 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Thursday, November 14th will be issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 3.16%. The ex-dividend date 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 firm’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 completion of the transaction, the chief executive officer now directly owns 432,731 shares in the company, valued at $47,704,265.44. The sale was disclosed in a filing with the SEC, which is accessible through this link. Over the last quarter, insiders sold 75,000 shares of company stock valued at $8,750,250. Corporate insiders own 0.58% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. Rational Advisors LLC boosted its holdings in shares of Wynn Resorts by 7,131.6% during the third quarter. Rational Advisors LLC now owns 1,374 shares of the casino operator’s stock worth $149,000 after purchasing an additional 1,355 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Wynn Resorts by 0.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,327,357 shares of the casino operator’s stock worth $144,311,000 after purchasing an additional 6,721 shares during the period. Cookson Peirce & Co. Inc. boosted its holdings in shares of Wynn Resorts by 24.1% during the third quarter. Cookson Peirce & Co. Inc. now owns 5,325 shares of the casino operator’s stock worth $579,000 after purchasing an additional 1,035 shares during the period. Tower Research Capital LLC TRC boosted its holdings in shares of Wynn Resorts by 72.9% during the third quarter. Tower Research Capital LLC TRC now owns 2,481 shares of the casino operator’s stock worth $270,000 after purchasing an additional 1,046 shares during the period. Finally, Alps Advisors Inc. acquired a new stake in shares of Wynn Resorts during the third quarter worth approximately $641,000. Institutional investors own 75.66% of the company’s stock.
About Wynn Resorts
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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