Wynn Resorts Ltd. (WYNN) Downgraded by Vetr Inc. to “Buy”
Vetr lowered shares of Wynn Resorts Ltd. (NASDAQ:WYNN) from a strong-buy rating to a buy rating in a research report report published on Thursday morning. The brokerage currently has $110.77 price objective on the casino operator’s stock.
A number of other equities analysts also recently commented on the company. JPMorgan Chase & Co. reiterated a hold rating and issued a $87.00 price target on shares of Wynn Resorts in a research note on Thursday, November 3rd. Nomura decreased their target price on Wynn Resorts from $83.00 to $77.00 and set a reduce rating for the company in a research note on Thursday, November 3rd. Stifel Nicolaus decreased their target price on Wynn Resorts from $106.00 to $103.00 and set a hold rating for the company in a research note on Thursday, November 3rd. Telsey Advisory Group decreased their target price on Wynn Resorts from $115.00 to $105.00 and set an outperform rating for the company in a research note on Thursday, November 3rd. Finally, Morgan Stanley upgraded Wynn Resorts from an equal weight rating to an overweight rating in a research note on Monday, October 24th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $102.16.
Wynn Resorts (NASDAQ:WYNN) opened at 101.32 on Thursday. The stock’s 50 day moving average price is $93.28 and its 200-day moving average price is $95.96. The stock has a market capitalization of $10.28 billion, a P/E ratio of 47.79 and a beta of 1.89. Wynn Resorts has a 52 week low of $49.95 and a 52 week high of $109.50.
Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Wednesday, November 2nd. The casino operator reported $0.75 EPS for the quarter, missing the Zacks’ consensus estimate of $0.78 by $0.03. The firm earned $1.11 billion during the quarter, compared to analyst estimates of $1.12 billion. Wynn Resorts had a return on equity of 3,973.99% and a net margin of 5.24%. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter last year, the business posted $0.86 earnings per share. Equities research analysts expect that Wynn Resorts will post $3.79 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 29th. Stockholders of record on Thursday, November 17th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend is Tuesday, November 15th. Wynn Resorts’s dividend payout ratio is currently 94.34%.
In other news, Director Daniel Boone Wayson sold 37,500 shares of the business’s stock in a transaction on Wednesday, November 9th. The shares were sold at an average price of $87.12, for a total transaction of $3,267,000.00. Following the transaction, the director now directly owns 54,510 shares in the company, valued at approximately $4,748,911.20. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 12.60% of the company’s stock.
A number of large investors have recently modified their holdings of the company. Columbus Circle Investors acquired a new stake in shares of Wynn Resorts during the second quarter worth about $64,835,000. Alps Advisors Inc. raised its position in Wynn Resorts by 3.1% in the second quarter. Alps Advisors Inc. now owns 262,208 shares of the casino operator’s stock worth $23,767,000 after buying an additional 7,960 shares in the last quarter. Pacific Heights Asset Management LLC raised its position in Wynn Resorts by 19.2% in the second quarter. Pacific Heights Asset Management LLC now owns 155,000 shares of the casino operator’s stock worth $14,049,000 after buying an additional 25,000 shares in the last quarter. SG Americas Securities LLC raised its position in Wynn Resorts by 44.3% in the second quarter. SG Americas Securities LLC now owns 115,171 shares of the casino operator’s stock worth $10,439,000 after buying an additional 35,372 shares in the last quarter. Finally, Delta Lloyd NV purchased a new position in Wynn Resorts during the second quarter worth $524,000. Hedge funds and other institutional investors own 71.42% of the company’s stock.
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Wynn Resorts Company Profile
Wynn Resorts, Limited is a developer, owner and operator of destination casino resorts that integrate accommodations and a range of amenities, including dining outlets, retail offerings, entertainment theaters and meeting complexes. The Company operates through two segments: Macau Operations and Las Vegas Operations.
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