Mizuho Cuts Wynn Resorts (NASDAQ:WYNN) Price Target to $125.00

Wynn Resorts (NASDAQ:WYNN) had its target price lowered by Mizuho from $133.00 to $125.00 in a research note published on Tuesday morning,Benzinga reports. Mizuho currently has an outperform rating on the casino operator’s stock.

Several other research analysts have also issued reports on WYNN. Susquehanna reduced their price target on Wynn Resorts from $133.00 to $127.00 and set a “positive” rating on the stock in a research report on Thursday, April 16th. Barclays cut their target price on Wynn Resorts from $139.00 to $134.00 and set an “overweight” rating on the stock in a research note on Thursday, July 9th. Citigroup decreased their target price on Wynn Resorts from $145.00 to $132.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Jefferies Financial Group lowered their price target on Wynn Resorts from $161.00 to $150.00 and set a “buy” rating for the company in a research note on Monday, April 6th. Finally, Bank of America cut their price target on shares of Wynn Resorts from $150.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Wynn Resorts presently has an average rating of “Moderate Buy” and an average price target of $135.44.

Wynn Resorts Stock Up 1.7%

Shares of WYNN opened at $100.70 on Tuesday. The stock’s fifty day simple moving average is $100.44 and its 200-day simple moving average is $104.34. The firm has a market capitalization of $10.45 billion, a PE ratio of 30.06, a price-to-earnings-growth ratio of 0.98 and a beta of 0.99. Wynn Resorts has a 12-month low of $92.52 and a 12-month high of $134.72.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Thursday, May 7th. The casino operator reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.07. The firm had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.82 billion. Wynn Resorts had a negative return on equity of 42.03% and a net margin of 5.14%.The company’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.07 EPS. Analysts anticipate that Wynn Resorts will post 4.49 EPS for the current year.

Wynn Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Monday, May 18th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Monday, May 18th. Wynn Resorts’s dividend payout ratio is 29.85%.

Hedge Funds Weigh In On Wynn Resorts

Several institutional investors have recently modified their holdings of the business. Egerton Capital UK LLP bought a new stake in Wynn Resorts during the 4th quarter worth approximately $249,053,000. Palidye Holdings Caymans Ltd acquired a new stake in Wynn Resorts during the 2nd quarter worth approximately $104,629,000. Norges Bank bought a new position in Wynn Resorts in the fourth quarter valued at approximately $122,696,000. Zurich Insurance Group Ltd FI bought a new position in Wynn Resorts in the third quarter valued at approximately $110,213,000. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in shares of Wynn Resorts by 9.5% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,680,631 shares of the casino operator’s stock valued at $442,890,000 after buying an additional 320,502 shares during the period. Institutional investors own 88.64% of the company’s stock.

Wynn Resorts Company Profile

Wynn Resorts, Limited (NASDAQ: WYNN) is a global developer and operator of luxury resorts and casinos, renowned for its premium hospitality offerings and integrated entertainment experiences. The company specializes in high-end hotel accommodations, gaming operations, fine dining restaurants, retail outlets, meeting and convention spaces, and live entertainment venues. Its properties are designed to cater to both leisure and business travelers seeking upscale environments and world-class service.

Founded in 2002 by hospitality entrepreneur Steve Wynn, the company opened its flagship property, Wynn Las Vegas, on the Las Vegas Strip in 2005, followed by Encore Las Vegas in 2008.