Wynn Resorts (NASDAQ:WYNN) Hits New 52-Week Low – Should You Sell?

Wynn Resorts, Limited (NASDAQ:WYNN)’s share price reached a new 52-week low during trading on Thursday . The stock traded as low as $88.37 and last traded at $88.81, with a volume of 256247 shares. The stock had previously closed at $90.23.

Wynn Resorts News Roundup

Here are the key news stories impacting Wynn Resorts this week:

• Positive Sentiment: UBS remains bullish despite a lower target. UBS reduced its price target from $145 to $138 but maintained a “buy” rating, implying substantial upside from current levels. The lower target may reflect more cautious assumptions rather than a change in its overall view. Benzinga analyst ratings
• Neutral Sentiment: Options activity suggests traders are positioning for a potentially large move. Elevated or notable options-market activity indicates uncertainty and expectations for increased volatility, but it does not establish a clear directional signal. Options traders betting on a big move in Wynn Resorts stock
• Neutral Sentiment: Wynn priced $900 million of senior notes due 2035 at a 6.875% coupon. The offering extends the company’s debt maturities and provides liquidity, but the relatively high interest rate increases financing costs. Proceeds and use-of-funds details were not provided in the reports. Wynn Resorts prices senior notes offering
• Negative Sentiment: Credit concerns are weighing on the financing news. Fitch reportedly characterized Wynn’s credit improvement as “slow,” reinforcing investor concerns about leverage and the cost of servicing debt. The new notes’ high coupon may add to those worries. Wynn Resorts senior notes and Fitch credit outlook
• Negative Sentiment: Recent market momentum has been poor. Wynn underperformed competitors and touched a new 52-week low, signaling continued selling pressure and weakening investor sentiment. Wynn Resorts reaches 52-week low
• Negative Sentiment: Former Wynn Las Vegas employees allege they were fired because of union activity. If substantiated, the claims could create labor-relations, legal and reputational risks for Wynn Resorts. Former Wynn Las Vegas employees allege firings tied to union activity

Analyst Ratings Changes

WYNN has been the topic of several recent research reports. 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 price objective on the stock. JPMorgan Chase & Co. decreased their target price on shares of Wynn Resorts from $135.00 to $134.00 and set an “overweight” rating for the company in a research report on Wednesday, July 15th. Citigroup reaffirmed a “buy” rating on shares of Wynn Resorts in a report on Thursday, August 6th. The Goldman Sachs Group set a $120.00 price objective on Wynn Resorts in a research report on Wednesday, July 15th. Finally, Stifel Nicolaus set a $143.00 price objective on Wynn Resorts in a report on Wednesday, August 5th. One investment 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 stock. Based on data from MarketBeat.com, Wynn Resorts has an average rating of “Moderate Buy” and a consensus target price of $133.35.

Wynn Resorts Stock Down 0.8%

The business’s 50 day moving average is $97.22 and its two-hundred day moving average is $100.77. The firm has a market capitalization of $9.03 billion, a P/E ratio of 21.76, a PEG ratio of 1.06 and a beta of 1.00.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data on Tuesday, August 4th. The casino operator reported $1.24 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.25. The business had revenue of $1.86 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.09 earnings per share. As a group, equities analysts anticipate that Wynn Resorts, Limited will post 4.55 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, August 14th. Wynn Resorts’s dividend payout ratio is currently 24.81%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. MUFG Securities EMEA plc acquired a new stake in Wynn Resorts in the second quarter worth approximately $25,000. Hantz Financial Services Inc. increased its position in shares of Wynn Resorts by 54.9% during the 4th quarter. Hantz Financial Services Inc. now owns 251 shares of the casino operator’s stock valued at $30,000 after purchasing an additional 89 shares during the period. SHP Wealth Management acquired a new position in shares of Wynn Resorts during the 4th quarter valued at $32,000. Geneos Wealth Management Inc. raised its stake in shares of Wynn Resorts by 69.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator’s stock worth $32,000 after buying an additional 156 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new stake in shares of Wynn Resorts in the 4th quarter worth $34,000. Institutional investors and hedge funds own 88.64% of the company’s stock.

About Wynn Resorts

Wynn Resorts, Ltd. is a global luxury hospitality and entertainment company that develops and operates integrated resorts. Its properties combine casino gaming with hotel accommodations, fine dining, retail shopping, nightlife, entertainment, spas and meeting facilities.

The company operates Wynn Las Vegas and Encore Las Vegas in Nevada, Encore Boston Harbor in Massachusetts, and Wynn Macau and Encore Macau in Macau. These properties serve leisure and business travelers, gaming customers and convention guests across the United States and Asia.

Founded in 2002 by casino executive Steve Wynn, Wynn Resorts has expanded its portfolio through destination resorts focused on premium service and design.