Wynn Resorts (NASDAQ:WYNN) Downgraded by StockNews.com

StockNews.com cut shares of Wynn Resorts (NASDAQ:WYNN) from a buy rating to a hold rating in a research report released on Thursday morning.

Several other research firms have also recently issued reports on WYNN. Citigroup raised their target price on shares of 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 lifted their price target on shares of Wynn Resorts from $107.00 to $114.00 and gave the company an equal weight rating in a report on Tuesday, April 9th. Barclays increased their target price on Wynn Resorts from $124.00 to $128.00 and gave the stock an overweight rating in a research report on Thursday. Wells Fargo & Company boosted their price target on Wynn Resorts from $125.00 to $128.00 and gave the company an overweight rating in a research report on Wednesday, May 8th. Finally, Bank Of America (Bofa) raised their price objective on Wynn Resorts from $95.00 to $105.00 and gave the stock a neutral rating in a report on Wednesday, January 17th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $121.62.

Wynn Resorts Stock Performance

Shares of WYNN opened at $96.39 on Thursday. Wynn Resorts has a fifty-two week low of $81.65 and a fifty-two week high of $112.25. The stock has a fifty day moving average of $99.98 and a two-hundred day moving average of $95.52. The company has a market capitalization of $10.80 billion, a PE ratio of 13.20 and a beta of 1.91.

Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Tuesday, May 7th. The casino operator reported $1.59 EPS for the quarter, beating the consensus estimate of $1.43 by $0.16. The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.80 billion. Wynn Resorts had a negative return on equity of 46.04% and a net margin of 12.36%. The business’s quarterly revenue was up 30.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.29 earnings per share. As a group, equities research analysts forecast that Wynn Resorts will post 5.55 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Monday, May 20th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, May 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.04%. Wynn Resorts’s payout ratio is currently 13.70%.

Institutional Investors Weigh In On Wynn Resorts

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WYNN. Blue Trust Inc. grew its stake in shares of Wynn Resorts by 3,000.0% during the fourth quarter. Blue Trust Inc. now owns 279 shares of the casino operator’s stock valued at $25,000 after acquiring an additional 270 shares in the last quarter. ICA Group Wealth Management LLC acquired a new stake in Wynn Resorts during the 4th quarter valued at approximately $27,000. Sunbelt Securities Inc. raised its position in shares of Wynn Resorts by 4,285.7% in the 3rd quarter. Sunbelt Securities Inc. now owns 307 shares of the casino operator’s stock valued at $28,000 after purchasing an additional 300 shares in the last quarter. Register Financial Advisors LLC purchased a new position in shares of Wynn Resorts during the 1st quarter valued at approximately $37,000. Finally, GAMMA Investing LLC acquired a new stake in shares of Wynn Resorts during the fourth quarter worth approximately $38,000. Hedge funds and other institutional investors own 68.87% of the company’s stock.

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.