Wynn Resorts (NASDAQ:WYNN) Price Target Cut to $122.00 by Analysts at Wells Fargo & Company

Wynn Resorts (NASDAQ:WYNN) had its price target trimmed by Wells Fargo & Company from $125.00 to $122.00 in a report released on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the casino operator’s stock.

WYNN has been the topic of several other research reports. Barclays lowered their target price on Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating on the stock in a research note on Tuesday. Stifel Nicolaus lowered their price objective on shares of Wynn Resorts from $121.00 to $103.00 and set a “buy” rating on the stock in a research report on Friday, September 13th. StockNews.com downgraded shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Tuesday, September 17th. Morgan Stanley boosted their price target on shares of Wynn Resorts from $112.00 to $115.00 and gave the company an “overweight” rating in a report on Tuesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Wynn Resorts from $122.00 to $118.00 and set a “buy” rating for the company in a report on Tuesday. Four investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $115.71.

Wynn Resorts Price Performance

WYNN stock opened at $84.30 on Tuesday. The firm has a market capitalization of $9.26 billion, a P/E ratio of 10.39, a P/E/G ratio of 2.35 and a beta of 1.80. Wynn Resorts has a 52-week low of $71.63 and a 52-week high of $110.38. The company’s 50 day simple moving average is $90.96 and its 200-day simple moving average is $88.56.

Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Monday, November 4th. The casino operator reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). Wynn Resorts had a net margin of 13.37% and a negative return on equity of 61.16%. The business had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the previous year, the company earned $0.99 EPS. Wynn Resorts’s revenue for the quarter was up 1.3% on a year-over-year basis. Sell-side analysts predict that Wynn Resorts will post 5.1 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend is Friday, November 15th. Wynn Resorts’s payout ratio is 12.33%.

Insider Buying and Selling

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $78.73, for a total transaction of $208,634.50. Following the completion of the transaction, the director now owns 5,689 shares of the company’s stock, valued at $447,894.97. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.52% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Wynn Resorts in the third quarter worth $202,000. Prospera Financial Services Inc boosted its holdings in Wynn Resorts by 4.1% in the 3rd quarter. Prospera Financial Services Inc now owns 4,616 shares of the casino operator’s stock valued at $443,000 after purchasing an additional 181 shares during the period. Thrivent Financial for Lutherans grew its position in Wynn Resorts by 49.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 11,683 shares of the casino operator’s stock worth $1,120,000 after purchasing an additional 3,850 shares during the last quarter. CIBC Asset Management Inc increased its holdings in shares of Wynn Resorts by 7.7% during the 3rd quarter. CIBC Asset Management Inc now owns 14,252 shares of the casino operator’s stock worth $1,366,000 after purchasing an additional 1,017 shares during the period. Finally, Regal Partners Ltd raised its position in shares of Wynn Resorts by 24.0% during the third quarter. Regal Partners Ltd now owns 898,705 shares of the casino operator’s stock valued at $86,168,000 after buying an additional 174,005 shares during the last quarter. 68.87% of the stock is owned by institutional investors.

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.