Wynn Resorts (NASDAQ:WYNN) had its price objective hoisted by Morgan Stanley from $115.00 to $120.00 in a report released on Thursday morning, Stock Target Advisor reports. The brokerage currently has an equal weight rating on the casino operator’s stock.
Other research analysts have also recently issued research reports about the company. Deutsche Bank set a $150.00 price target on Wynn Resorts and gave the company a buy rating in a research report on Wednesday, August 7th. Standpoint Research assumed coverage on Wynn Resorts in a research report on Wednesday, September 4th. They issued a buy rating for the company. Union Gaming Research cut Wynn Resorts from a buy rating to a hold rating and dropped their price target for the company from $150.00 to $135.00 in a research report on Thursday. Jefferies Financial Group raised their price target on Wynn Resorts from $160.00 to $165.00 and gave the company a buy rating in a research report on Thursday, July 11th. Finally, Citigroup set a $141.00 price target on Wynn Resorts and gave the company a buy rating in a research report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $137.59.
Shares of WYNN stock traded up $0.98 during trading hours on Thursday, hitting $126.47. The stock had a trading volume of 1,396,900 shares, compared to its average volume of 2,073,250. The stock’s 50 day moving average is $114.45 and its 200 day moving average is $120.37. The firm has a market capitalization of $13.62 billion, a PE ratio of 19.34, a PEG ratio of 2.43 and a beta of 2.07. The company has a debt-to-equity ratio of 5.00, a current ratio of 1.00 and a quick ratio of 0.95. Wynn Resorts has a twelve month low of $90.06 and a twelve month high of $151.50.
Wynn Resorts (NASDAQ:WYNN) last released 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 analysts’ expectations of $1.67 billion. Wynn Resorts had a return on equity of 34.98% and a net margin of 12.41%. The company’s revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.68 EPS. As a group, equities analysts predict that Wynn Resorts will post 5.21 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Thursday, November 14th will be given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date of this dividend is Wednesday, November 13th. Wynn Resorts’s dividend payout ratio is currently 61.16%.
In related news, CEO Matt Maddox sold 25,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $110.24, for a total transaction of $2,756,000.00. Following the sale, the chief executive officer now owns 432,731 shares of the company’s stock, valued at $47,704,265.44. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders have sold 75,000 shares of company stock worth $8,750,250. Corporate insiders own 0.58% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of WYNN. Amundi Pioneer Asset Management Inc. boosted its stake in shares of Wynn Resorts by 569.1% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 35,590 shares of the casino operator’s stock valued at $4,247,000 after acquiring an additional 30,271 shares during the last quarter. Retirement Systems of Alabama boosted its stake in shares of Wynn Resorts by 236.5% during the second quarter. Retirement Systems of Alabama now owns 151,788 shares of the casino operator’s stock valued at $18,820,000 after acquiring an additional 106,680 shares during the last quarter. PM CAPITAL Ltd boosted its stake in shares of Wynn Resorts by 4.2% during the second quarter. PM CAPITAL Ltd now owns 242,411 shares of the casino operator’s stock valued at $30,057,000 after acquiring an additional 9,681 shares during the last quarter. Edge Wealth Management LLC acquired a new stake in shares of Wynn Resorts during the second quarter valued at $248,000. Finally, NEXT Financial Group Inc boosted its stake in shares of Wynn Resorts by 81.7% during the second quarter. NEXT Financial Group Inc now owns 545 shares of the casino operator’s stock valued at $68,000 after acquiring an additional 245 shares during the last quarter. 75.66% of the stock is currently owned by institutional investors and hedge funds.
Wynn Resorts Company Profile
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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