StockNews.com Downgrades Wynn Resorts (NASDAQ:WYNN) to Hold

StockNews.com downgraded shares of Wynn Resorts (NASDAQ:WYNN) from a buy rating to a hold rating in a report published on Wednesday morning.

Several other equities analysts also recently weighed in on WYNN. Stifel Nicolaus raised their price target on Wynn Resorts from $135.00 to $138.00 and gave the stock a buy rating in a research report on Wednesday, May 8th. Morgan Stanley lifted their price objective on Wynn Resorts from $107.00 to $114.00 and gave the stock an equal weight rating in a research report on Tuesday, April 9th. Seaport Res Ptn upgraded shares of Wynn Resorts from a hold rating to a strong-buy rating in a report on Thursday, May 30th. Wells Fargo & Company lowered their price target on shares of Wynn Resorts from $128.00 to $126.00 and set an overweight rating for the company in a report on Tuesday, July 2nd. Finally, Barclays upped their price objective on shares of Wynn Resorts from $124.00 to $128.00 and gave the company an overweight rating in a research note on Thursday, May 9th. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $119.53.

Wynn Resorts Stock Up 1.4 %

Shares of WYNN stock opened at $85.83 on Wednesday. Wynn Resorts has a fifty-two week low of $81.65 and a fifty-two week high of $112.25. The business has a fifty day simple moving average of $91.81 and a 200-day simple moving average of $96.58. The stock has a market cap of $9.62 billion, a P/E ratio of 11.76 and a beta of 1.82.

Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Tuesday, May 7th. The casino operator reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.16. Wynn Resorts had a net margin of 12.36% and a negative return on equity of 46.04%. The company had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter in the previous year, the business posted $0.29 earnings per share. The firm’s quarterly revenue was up 30.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Wynn Resorts will post 5.63 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Monday, May 20th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, May 17th. This represents a $1.00 annualized dividend and a yield of 1.17%. Wynn Resorts’s dividend payout ratio is presently 13.70%.

Insider Transactions at Wynn Resorts

In other Wynn Resorts news, Director Betsy S. Atkins sold 2,446 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $94.39, for a total transaction of $230,877.94. Following the completion of the sale, the director now directly owns 9,226 shares in the company, valued at $870,842.14. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.52% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Blue Trust Inc. grew its stake in shares of Wynn Resorts by 3,000.0% during the fourth quarter. Blue Trust Inc. now owns 279 shares of the casino operator’s stock valued at $25,000 after acquiring an additional 270 shares in the last quarter. ICA Group Wealth Management LLC acquired a new stake in Wynn Resorts during the 4th quarter valued at approximately $27,000. Sunbelt Securities Inc. increased its holdings in Wynn Resorts by 4,285.7% during the 3rd quarter. Sunbelt Securities Inc. now owns 307 shares of the casino operator’s stock worth $28,000 after purchasing an additional 300 shares during the last quarter. Register Financial Advisors LLC acquired a new position in shares of Wynn Resorts in the 1st quarter valued at approximately $37,000. Finally, GAMMA Investing LLC purchased a new position in shares of Wynn Resorts during the 4th quarter valued at approximately $38,000. Institutional investors and hedge funds own 68.87% of the company’s stock.

About Wynn Resorts

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.