Wynn Resorts (NASDAQ:WYNN) Reaches New 12-Month Low – What’s Next?

Wynn Resorts, Limited (NASDAQ:WYNN)’s share price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $92.52 and last traded at $95.9930, with a volume of 67156 shares changing hands. The stock had previously closed at $94.37.

Wall Street Analyst Weigh In

Several brokerages recently commented on WYNN. Zacks Research lowered shares of Wynn Resorts from a “hold” rating to a “strong sell” rating in a research note on Friday, July 10th. Jefferies Financial Group cut their target price on Wynn Resorts from $161.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. Barclays reduced their target price on Wynn Resorts from $139.00 to $134.00 and set an “overweight” rating for the company in a report on Thursday, July 9th. Weiss Ratings reissued a “hold (c)” rating on shares of Wynn Resorts in a research report on Wednesday, June 24th. Finally, Bank of America dropped their price target on Wynn Resorts from $150.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $135.94.

Wynn Resorts Stock Up 1.5%

The stock has a market cap of $9.95 billion, a PE ratio of 28.66, a price-to-earnings-growth ratio of 0.93 and a beta of 0.99. The stock has a fifty day moving average of $100.16 and a 200-day moving average of $105.20.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data on Thursday, May 7th. The casino operator reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.07. Wynn Resorts had a negative return on equity of 42.03% and a net margin of 5.14%.The company had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.82 billion. During the same period last year, the firm earned $1.07 EPS. The firm’s revenue for the quarter was up 9.2% on a year-over-year basis. Equities research analysts forecast that Wynn Resorts, Limited will post 4.52 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 18th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. Wynn Resorts’s dividend payout ratio (DPR) is currently 29.85%.

Hedge Funds Weigh In On Wynn Resorts

Several institutional investors have recently bought and sold shares of WYNN. Capital Advisors Ltd. LLC grew its stake in Wynn Resorts by 433,217.6% in the 4th quarter. Capital Advisors Ltd. LLC now owns 73,664 shares of the casino operator’s stock valued at $8,864,000 after acquiring an additional 73,647 shares during the last quarter. Westend Capital Management LLC acquired a new position in Wynn Resorts during the fourth quarter worth about $12,084,000. SG Americas Securities LLC raised its position in Wynn Resorts by 224.1% during the fourth quarter. SG Americas Securities LLC now owns 82,859 shares of the casino operator’s stock worth $9,970,000 after acquiring an additional 57,293 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Wynn Resorts by 97.5% in the fourth quarter. Pacer Advisors Inc. now owns 22,415 shares of the casino operator’s stock valued at $2,697,000 after purchasing an additional 11,067 shares in the last quarter. Finally, Sequoia Financial Advisors LLC lifted its holdings in shares of Wynn Resorts by 46.1% in the fourth quarter. Sequoia Financial Advisors LLC now owns 770,178 shares of the casino operator’s stock valued at $92,676,000 after purchasing an additional 243,179 shares in the last quarter. 88.64% of the stock is owned by institutional investors and hedge funds.

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.