Wynn Resorts (NASDAQ:WYNN) Downgraded by StockNews.com to “Hold”

StockNews.com downgraded shares of Wynn Resorts (NASDAQ:WYNNFree Report) from a buy rating to a hold rating in a research note released on Wednesday morning.

A number of other analysts have also recently weighed in on the company. Barclays raised their price objective on Wynn Resorts from $124.00 to $128.00 and gave the stock an overweight rating in a research report on Thursday, May 9th. Mizuho initiated coverage on Wynn Resorts in a research report on Thursday, April 4th. They issued a buy rating and a $131.00 price objective for the company. Citigroup raised their price objective on Wynn Resorts from $132.00 to $138.00 and gave the stock a buy rating in a research report on Wednesday, May 8th. Morgan Stanley raised 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. Finally, Seaport Res Ptn raised Wynn Resorts from a hold rating to a strong-buy rating in a research report on Thursday, May 30th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $121.00.

Check Out Our Latest Report on WYNN

Wynn Resorts Trading Down 1.0 %

Shares of NASDAQ:WYNN opened at $83.91 on Wednesday. Wynn Resorts has a 12-month low of $81.65 and a 12-month high of $112.25. The business’s fifty day simple moving average is $92.25 and its 200-day simple moving average is $96.66. The company has a market capitalization of $9.40 billion, a PE ratio of 11.49 and a beta of 1.82.

Wynn Resorts (NASDAQ:WYNNGet Free Report) last announced its quarterly earnings results on Tuesday, May 7th. The casino operator reported $1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.16. Wynn Resorts had a negative return on equity of 46.04% and a net margin of 12.36%. The business had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same period last year, the business posted $0.29 EPS. The business’s revenue was up 30.9% compared to the same quarter last year. Research analysts predict that Wynn Resorts will post 5.63 EPS for the current year.

Wynn Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Monday, May 20th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, May 17th. This represents a $1.00 annualized dividend and a dividend yield of 1.19%. Wynn Resorts’s dividend payout ratio (DPR) is presently 13.70%.

Insider Activity

In related news, Director Betsy S. Atkins sold 2,446 shares of Wynn Resorts stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $94.39, for a total value of $230,877.94. Following the completion of the transaction, the director now owns 9,226 shares in the company, valued at approximately $870,842.14. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On Wynn Resorts

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

Wynn Resorts Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Wynn Resorts (NASDAQ:WYNN)

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