Wynn Resorts (NASDAQ:WYNN) Reaches New 52-Week Low – Time to Sell?

Wynn Resorts, Limited (NASDAQ:WYNN)’s share price reached a new 52-week low on Thursday. The stock traded as low as $76.90 and last traded at $77.5360, with a volume of 501229 shares changing hands. The stock had previously closed at $79.43.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Stifel Nicolaus set a $143.00 target price on Wynn Resorts in a report on Wednesday, August 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Wynn Resorts in a report on Monday, September 21st. UBS Group cut their price objective on shares of Wynn Resorts from $145.00 to $138.00 and set a “buy” rating on the stock in a research report on Friday, September 11th. Wolfe Research assumed coverage on shares of Wynn Resorts in a research report on Wednesday, September 2nd. They issued an “outperform” rating and a $128.00 target price for the company. Finally, Morgan Stanley restated an “overweight” rating and issued a $128.00 price objective on shares of Wynn Resorts in a report on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Wynn Resorts currently has a consensus rating of “Moderate Buy” and a consensus target price of $133.35.

Wynn Resorts Stock Performance

The firm has a fifty day simple moving average of $93.45 and a 200-day simple moving average of $98.72. The firm has a market cap of $7.93 billion, a price-to-earnings ratio of 19.17, a P/E/G ratio of 0.94 and a beta of 1.00.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Tuesday, August 4th. The casino operator reported $1.24 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.25. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.83 billion. Wynn Resorts had a net margin of 6.05% and a negative return on equity of 46.52%. The company’s revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.09 earnings per share. Analysts expect that Wynn Resorts, Limited will post 4.55 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Friday, August 14th. Wynn Resorts’s payout ratio is currently 24.81%.

Hedge Funds Weigh In On Wynn Resorts

A number of hedge funds have recently bought and sold shares of WYNN. Hantz Financial Services Inc. increased its holdings in Wynn Resorts by 54.9% in the 4th quarter. Hantz Financial Services Inc. now owns 251 shares of the casino operator’s stock valued at $30,000 after buying an additional 89 shares during the period. SHP Wealth Management acquired a new stake in shares of Wynn Resorts during the 4th quarter worth approximately $32,000. EverSource Wealth Advisors LLC boosted its position in shares of Wynn Resorts by 70.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 427 shares of the casino operator’s stock worth $51,000 after acquiring an additional 176 shares in the last quarter. Operose Advisors LLC increased its stake in Wynn Resorts by 400.0% in the second quarter. Operose Advisors LLC now owns 500 shares of the casino operator’s stock valued at $49,000 after acquiring an additional 400 shares during the last quarter. Finally, Parallel Advisors LLC increased its stake in Wynn Resorts by 18.5% in the first quarter. Parallel Advisors LLC now owns 756 shares of the casino operator’s stock valued at $77,000 after acquiring an additional 118 shares during the last quarter. 88.64% of the stock is owned by institutional investors.

Wynn Resorts Company Profile

Wynn Resorts, Ltd. is a developer and operator of luxury integrated resorts that combine casino gaming, hotel accommodations, fine dining, entertainment, retail, and convention facilities. Its properties are designed to serve leisure travelers, convention visitors, and gaming customers.

The company operates Wynn and Encore resorts in Las Vegas, Nevada; Wynn Macau and Wynn Palace in Macau; and Encore Boston Harbor in Everett, Massachusetts. These properties offer casino floors, guest rooms and suites, restaurants, spas, theaters and other amenities, with operations serving customers from the United States, China and international markets.

Wynn Resorts was founded in 2002 by Steve Wynn, who previously helped develop major casino resorts in Las Vegas and Macau.