Wynn Resorts (NASDAQ:WYNN) Stock Price Down 4.4% – What’s Next?

Wynn Resorts, Limited (NASDAQ:WYNN) shares were down 4.4% on Thursday . The company traded as low as $125.01 and last traded at $125.6980. Approximately 441,192 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 2,233,617 shares. The stock had previously closed at $131.53.

Analysts Set New Price Targets

Several research firms recently commented on WYNN. JPMorgan Chase & Co. increased their target price on shares of Wynn Resorts from $136.00 to $138.00 and gave the company an “overweight” rating in a report on Friday, November 7th. UBS Group upgraded shares of Wynn Resorts from a “neutral” rating to a “buy” rating and upped their price target for the company from $101.00 to $147.00 in a research report on Thursday, August 28th. Zacks Research downgraded Wynn Resorts from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 25th. Morgan Stanley boosted their target price on Wynn Resorts from $130.00 to $132.00 and gave the company an “overweight” rating in a research note on Monday, November 24th. Finally, Mizuho raised their price target on Wynn Resorts from $126.00 to $131.00 and gave the stock an “outperform” rating in a research report on Thursday, November 13th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $134.31.

Wynn Resorts Trading Down 5.9%

The company’s fifty day simple moving average is $123.81 and its 200 day simple moving average is $112.33. The firm has a market capitalization of $12.87 billion, a P/E ratio of 27.69, a price-to-earnings-growth ratio of 9.08 and a beta of 1.10.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Thursday, November 6th. The casino operator reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by ($0.23). Wynn Resorts had a net margin of 7.09% and a negative return on equity of 54.88%. The company had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter in the prior year, the firm earned $0.90 EPS. Wynn Resorts’s quarterly revenue was up 8.3% compared to the same quarter last year. On average, analysts predict that Wynn Resorts, Limited will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Monday, November 17th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Monday, November 17th. Wynn Resorts’s dividend payout ratio (DPR) is presently 22.37%.

Hedge Funds Weigh In On Wynn Resorts

A number of institutional investors have recently added to or reduced their stakes in the company. Westside Investment Management Inc. grew its position in shares of Wynn Resorts by 40.2% in the 3rd quarter. Westside Investment Management Inc. now owns 338 shares of the casino operator’s stock worth $44,000 after buying an additional 97 shares during the period. Private Wealth Partners LLC boosted its stake in Wynn Resorts by 3.1% during the second quarter. Private Wealth Partners LLC now owns 3,360 shares of the casino operator’s stock worth $315,000 after acquiring an additional 100 shares in the last quarter. Parallel Advisors LLC grew its holdings in Wynn Resorts by 21.6% in the third quarter. Parallel Advisors LLC now owns 563 shares of the casino operator’s stock worth $72,000 after purchasing an additional 100 shares during the period. UMB Bank n.a. grew its holdings in Wynn Resorts by 41.5% in the third quarter. UMB Bank n.a. now owns 385 shares of the casino operator’s stock worth $49,000 after purchasing an additional 113 shares during the period. Finally, DekaBank Deutsche Girozentrale increased its stake in shares of Wynn Resorts by 1.0% during the second quarter. DekaBank Deutsche Girozentrale now owns 12,356 shares of the casino operator’s stock valued at $1,167,000 after purchasing an additional 127 shares in the last quarter. Institutional investors own 88.64% of the company’s stock.

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.