Wynn Resorts (WYNN) Lowered to Hold at Zacks Investment Research
Zacks Investment Research cut shares of Wynn Resorts (NASDAQ:WYNN) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning.
According to Zacks, “Wynn Resorts is benifiting from strength in Macau operations (Wynn Palace and Wynn Macau). In the fourth-quarter of 2017, Macau revenues increased owing to higher casino as well as non-casino revenues. Quarterly results surpassed the Zacks Consensus Estimate on both counts. Given the decent visitation pattern in Macau, infrastructure development and government’s efforts to boost tourism in Macau, non-gaming sources will continue to boost revenues, going forward. Wynn Resorts’ shares have outperformed its industry in the last one year. Also, earnings estimates for the current year has gone up in the past 60 days. However, a high-debt burden and increased competition remain potent headwinds for the company.”
Several other brokerages also recently issued reports on WYNN. Gabelli reiterated a buy rating and set a $230.00 price target on shares of Wynn Resorts in a report on Tuesday, January 23rd. Citigroup set a $228.00 price target on shares of Wynn Resorts and gave the stock a buy rating in a report on Tuesday, January 23rd. BidaskClub upgraded shares of Wynn Resorts from a hold rating to a buy rating in a report on Tuesday, January 23rd. Jefferies Group reiterated a positive rating and set a $220.00 price target on shares of Wynn Resorts in a report on Tuesday, January 23rd. Finally, Stifel Nicolaus reiterated a hold rating and set a $201.00 price target (up from $153.00) on shares of Wynn Resorts in a report on Tuesday, January 23rd. Eleven analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. Wynn Resorts currently has an average rating of Buy and an average target price of $179.36.
Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Monday, January 22nd. The casino operator reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.07. The company had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.56 billion. Wynn Resorts had a net margin of 11.85% and a return on equity of 100.14%. The company’s revenue for the quarter was up 29.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.50 earnings per share. equities analysts anticipate that Wynn Resorts will post 7.69 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 27th. Investors of record on Thursday, February 15th were issued a $0.50 dividend. The ex-dividend date was Wednesday, February 14th. This represents a $2.00 dividend on an annualized basis and a yield of 1.06%. Wynn Resorts’s payout ratio is 27.51%.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Mckinley Capital Management LLC Delaware acquired a new stake in Wynn Resorts in the fourth quarter valued at $171,000. Calton & Associates Inc. acquired a new stake in Wynn Resorts in the fourth quarter valued at $178,000. IBM Retirement Fund acquired a new stake in Wynn Resorts in the fourth quarter valued at $201,000. FDx Advisors Inc. acquired a new stake in Wynn Resorts in the fourth quarter valued at $203,000. Finally, Segment Wealth Management LLC acquired a new stake in Wynn Resorts in the fourth quarter valued at $217,000. Institutional investors and hedge funds own 70.11% of the company’s stock.
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Wynn Resorts Company Profile
Wynn Resorts, Limited (Wynn Resorts) 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’s segments include Macau Operations and Las Vegas Operations.
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