Wynn Resorts (NASDAQ:WYNN) Lowered to Hold Rating by StockNews.com

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

A number of other equities research analysts have also issued reports on WYNN. JPMorgan Chase & Co. boosted their price target on shares of Wynn Resorts from $101.00 to $113.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Wells Fargo & Company cut their price target on shares of Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Morgan Stanley cut their price target on shares of Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating on the stock in a report on Monday, February 24th. Stifel Nicolaus boosted their price target on shares of Wynn Resorts from $123.00 to $128.00 and gave the company a “buy” rating in a report on Friday, February 14th. Finally, Jefferies Financial Group upgraded shares of Wynn Resorts from a “hold” rating to a “buy” rating and boosted their price target for the company from $105.00 to $118.00 in a report on Tuesday, February 18th. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $119.58.

Wynn Resorts Price Performance

NASDAQ WYNN opened at $89.32 on Wednesday. The company’s 50 day simple moving average is $85.35 and its 200 day simple moving average is $87.77. Wynn Resorts has a 12 month low of $71.63 and a 12 month high of $110.38. The company has a market capitalization of $9.50 billion, a P/E ratio of 21.22, a PEG ratio of 2.35 and a beta of 1.76.

Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Thursday, February 13th. The casino operator reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $1.15. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. The business had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.78 billion. On average, analysts anticipate that Wynn Resorts will post 5.17 earnings per share for the current year.

Wynn Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.00 annualized dividend and a yield of 1.12%. Wynn Resorts’s dividend payout ratio is presently 23.75%.

Insiders Place Their Bets

In other Wynn Resorts news, Director Philip G. Satre bought 22,200 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was bought at an average cost of $92.18 per share, with a total value of $2,046,396.00. Following the completion of the transaction, the director now directly owns 34,195 shares of the company’s stock, valued at approximately $3,152,095.10. The trade was a 185.08 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.52% of the company’s stock.

Institutional Trading of Wynn Resorts

Several large investors have recently added to or reduced their stakes in WYNN. Fisher Asset Management LLC grew its position in Wynn Resorts by 70.7% in the third quarter. Fisher Asset Management LLC now owns 3,971,846 shares of the casino operator’s stock worth $380,821,000 after acquiring an additional 1,644,965 shares in the last quarter. Norges Bank bought a new stake in Wynn Resorts in the fourth quarter worth approximately $117,352,000. Jericho Capital Asset Management L.P. bought a new stake in Wynn Resorts in the fourth quarter worth approximately $101,375,000. Raymond James Financial Inc. bought a new stake in Wynn Resorts in the fourth quarter worth approximately $75,872,000. Finally, Holocene Advisors LP grew its position in Wynn Resorts by 27,868.5% in the third quarter. Holocene Advisors LP now owns 757,946 shares of the casino operator’s stock worth $72,672,000 after acquiring an additional 755,236 shares in the last quarter. 88.64% of the stock is owned by institutional investors.

Wynn Resorts Company Profile

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.