Wynn Resorts (NASDAQ:WYNN) Downgraded to “Hold” at StockNews.com

StockNews.com downgraded shares of Wynn Resorts (NASDAQ:WYNNFree Report) from a buy rating to a hold rating in a research report released on Thursday.

A number of other analysts also recently issued reports on WYNN. Bank Of America (Bofa) raised their price target on shares of Wynn Resorts from $95.00 to $105.00 and gave the company a neutral rating in a report on Wednesday, January 17th. UBS Group dropped their price target on shares of Wynn Resorts from $117.00 to $108.00 and set a neutral rating on the stock in a report on Tuesday, February 6th. Citigroup raised their price target on shares of Wynn Resorts from $132.00 to $138.00 and gave the company a buy rating in a report on Wednesday. JPMorgan Chase & Co. raised their price objective on shares of Wynn Resorts from $118.00 to $123.00 and gave the stock an overweight rating in a report on Tuesday, February 27th. Finally, Barclays raised their price objective on shares of Wynn Resorts from $124.00 to $128.00 and gave the stock an overweight rating in a report on Thursday. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $122.93.

Check Out Our Latest Analysis on Wynn Resorts

Wynn Resorts Trading Down 0.8 %

NASDAQ:WYNN traded down $0.80 on Thursday, reaching $96.39. 1,550,883 shares of the stock traded hands, compared to its average volume of 1,821,813. The company has a market capitalization of $10.80 billion, a price-to-earnings ratio of 16.12 and a beta of 1.91. Wynn Resorts has a 12 month low of $81.65 and a 12 month high of $112.25. The company’s fifty day simple moving average is $99.98 and its 200 day simple moving average is $95.44.

Wynn Resorts (NASDAQ:WYNNGet Free Report) last announced its quarterly earnings results on Tuesday, May 7th. The casino operator reported $1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.16. The firm had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.80 billion. Wynn Resorts had a net margin of 11.18% and a negative return on equity of 31.17%. The business’s quarterly revenue was up 30.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.29 EPS. Equities analysts anticipate that Wynn Resorts will post 5.37 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Monday, May 20th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.04%. The ex-dividend date is Friday, May 17th. Wynn Resorts’s dividend payout ratio is currently 16.72%.

Institutional Investors Weigh In On Wynn Resorts

Several institutional investors and hedge funds have recently modified their holdings of WYNN. Blue Trust Inc. lifted its holdings in shares of Wynn Resorts by 3,000.0% in the fourth quarter. Blue Trust Inc. now owns 279 shares of the casino operator’s stock worth $25,000 after buying an additional 270 shares in the last quarter. ICA Group Wealth Management LLC purchased a new position in shares of Wynn Resorts in the fourth quarter worth $27,000. Sunbelt Securities Inc. lifted its holdings in shares of Wynn Resorts by 4,285.7% in the third quarter. Sunbelt Securities Inc. now owns 307 shares of the casino operator’s stock worth $28,000 after buying an additional 300 shares in the last quarter. Register Financial Advisors LLC purchased a new position in shares of Wynn Resorts in the first quarter worth $37,000. Finally, GAMMA Investing LLC purchased a new position in shares of Wynn Resorts in the fourth quarter worth $38,000. Institutional investors own 68.87% of the company’s stock.

About Wynn Resorts

(Get Free Report)

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.

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