Wynn Resorts (NASDAQ:WYNN) Price Target Cut to $132.00 by Analysts at Citigroup

Wynn Resorts (NASDAQ:WYNN) had its price objective lowered by Citigroup from $145.00 to $132.00 in a report released on Friday morning,Benzinga reports. Citigroup currently has a buy rating on the casino operator’s stock.

A number of other analysts have also issued reports on the stock. Barclays decreased their target price on shares of Wynn Resorts from $143.00 to $139.00 and set an “overweight” rating on the stock in a research report on Friday. Susquehanna decreased their price target on Wynn Resorts from $133.00 to $127.00 and set a “positive” rating on the stock in a research note on Thursday, April 16th. Mizuho raised their price target on Wynn Resorts from $131.00 to $134.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 17th. Stifel Nicolaus decreased their price target on shares of Wynn Resorts from $160.00 to $150.00 and set a “buy” rating on the stock in a report on Friday, February 13th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $137.00 price objective on shares of Wynn Resorts in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $140.43.

Wynn Resorts Stock Performance

Shares of NASDAQ WYNN opened at $102.42 on Friday. Wynn Resorts has a 1 year low of $82.63 and a 1 year high of $134.72. The firm’s 50 day moving average price is $103.76 and its 200 day moving average price is $114.38. The firm has a market cap of $10.66 billion, a P/E ratio of 30.57, a price-to-earnings-growth ratio of 5.93 and a beta of 1.01.

Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Thursday, May 7th. The casino operator reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.07. Wynn Resorts had a net margin of 5.14% and a negative return on equity of 40.31%. The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same quarter last year, the business earned $1.07 earnings per share. Wynn Resorts’s revenue was up 9.2% compared to the same quarter last year. As a group, equities analysts predict that Wynn Resorts will post 4.93 EPS for the current year.

Wynn Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Monday, May 18th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, May 18th. This represents a $1.00 annualized dividend and a yield of 1.0%. Wynn Resorts’s payout ratio is 33.33%.

Hedge Funds Weigh In On Wynn Resorts

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Wynn Resorts by 10.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,961 shares of the casino operator’s stock worth $665,000 after buying an additional 754 shares in the last quarter. Woodline Partners LP lifted its holdings in Wynn Resorts by 36.2% in the 1st quarter. Woodline Partners LP now owns 7,568 shares of the casino operator’s stock worth $632,000 after buying an additional 2,012 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in Wynn Resorts by 69.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator’s stock worth $32,000 after buying an additional 156 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Wynn Resorts by 13.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,659 shares of the casino operator’s stock worth $155,000 after buying an additional 201 shares in the last quarter. Finally, Guggenheim Capital LLC lifted its holdings in Wynn Resorts by 9.5% in the 2nd quarter. Guggenheim Capital LLC now owns 10,008 shares of the casino operator’s stock worth $937,000 after buying an additional 868 shares in the last quarter. 88.64% of the stock is owned by institutional investors and hedge funds.

More Wynn Resorts News

Here are the key news stories impacting Wynn Resorts this week:

• Positive Sentiment: Wynn Resorts beat first-quarter estimates, reporting earnings of $1.25 per share on revenue of $1.86 billion, with sales up 9.2% year over year and gains in Wynn Palace and Las Vegas performance. Article Title
• Positive Sentiment: Analysts at Citi and JPMorgan kept bullish ratings on WYNN even after trimming price targets to $132 and $135, respectively, both still implying meaningful upside from current levels. Article Title
• Positive Sentiment: Options activity was unusually heavy, with traders buying far more call options than normal, suggesting some investors are positioning for a continued move higher.
• Neutral Sentiment: Wynn also declared a quarterly dividend of $0.25 per share, which provides a modest yield but is not a major near-term catalyst.
• Negative Sentiment: Despite the earnings beat, some market commentary noted that the quarter may lack a clear new catalyst, which could limit follow-through in the shares. Article Title
• Negative Sentiment: One market wrap noted the stock can still underperform the broader market even on positive days, suggesting investors remain selective about the outlook. Article Title

About Wynn Resorts

Wynn Resorts, Limited (NASDAQ: WYNN) is a global developer and operator of luxury resorts and casinos, renowned for its premium hospitality offerings and integrated entertainment experiences. The company specializes in high-end hotel accommodations, gaming operations, fine dining restaurants, retail outlets, meeting and convention spaces, and live entertainment venues. Its properties are designed to cater to both leisure and business travelers seeking upscale environments and world-class service.

Founded in 2002 by hospitality entrepreneur Steve Wynn, the company opened its flagship property, Wynn Las Vegas, on the Las Vegas Strip in 2005, followed by Encore Las Vegas in 2008.