Wynn Resorts (NASDAQ:WYNN) Sets New 1-Year Low – Time to Sell?

Wynn Resorts, Limited (NASDAQ:WYNN)’s share price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $92.25 and last traded at $92.4620, with a volume of 193994 shares trading hands. The stock had previously closed at $95.26.

Analyst Ratings Changes

Several research analysts recently commented on the stock. JPMorgan Chase & Co. reduced their target price on shares of Wynn Resorts from $135.00 to $134.00 and set an “overweight” rating for the company in a report on Wednesday, July 15th. The Goldman Sachs Group set a $120.00 price target on Wynn Resorts in a research note on Wednesday, July 15th. Mizuho decreased their price objective on shares of Wynn Resorts from $133.00 to $125.00 and set an “outperform” rating on the stock in a report on Tuesday, July 28th. Zacks Research raised shares of Wynn Resorts from a “strong sell” rating to a “hold” rating in a research report on Monday, August 10th. Finally, Bank of America cut their target price on shares of Wynn Resorts from $150.00 to $140.00 and set a “buy” rating for the company in a research note on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $134.19.

Wynn Resorts Stock Performance

The stock’s fifty day moving average price is $98.48 and its two-hundred day moving average price is $101.98. The company has a market cap of $9.33 billion, a P/E ratio of 22.48, a P/E/G ratio of 1.10 and a beta of 1.00.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings results on Tuesday, August 4th. The casino operator reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.25. Wynn Resorts had a negative return on equity of 46.52% and a net margin of 6.05%.The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same quarter last year, the company posted $1.09 EPS. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, equities research analysts forecast that Wynn Resorts, Limited will post 4.55 EPS for the current year.

Wynn Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, August 14th. Wynn Resorts’s payout ratio is presently 24.81%.

Institutional Investors Weigh In On Wynn Resorts

Hedge funds and other institutional investors have recently bought and sold shares of the company. Hantz Financial Services Inc. boosted its stake in shares of Wynn Resorts by 54.9% during the fourth quarter. Hantz Financial Services Inc. now owns 251 shares of the casino operator’s stock valued at $30,000 after purchasing an additional 89 shares in the last quarter. Horizon Investments LLC increased its stake in shares of Wynn Resorts by 6.7% in the fourth quarter. Horizon Investments LLC now owns 1,500 shares of the casino operator’s stock valued at $180,000 after buying an additional 94 shares during the period. QRG Capital Management Inc. increased its stake in shares of Wynn Resorts by 4.9% in the first quarter. QRG Capital Management Inc. now owns 2,071 shares of the casino operator’s stock valued at $210,000 after buying an additional 96 shares during the period. Parallel Advisors LLC raised its holdings in Wynn Resorts by 21.6% in the 3rd quarter. Parallel Advisors LLC now owns 563 shares of the casino operator’s stock valued at $72,000 after buying an additional 100 shares during the last quarter. Finally, Larson Financial Group LLC raised its holdings in Wynn Resorts by 23.5% in the 4th quarter. Larson Financial Group LLC now owns 557 shares of the casino operator’s stock valued at $67,000 after buying an additional 106 shares during the last quarter. Institutional investors own 88.64% of the company’s stock.

Wynn Resorts Company Profile

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.