Wynn Resorts Ltd. (WYNN) Trading Down 2.8%
Wynn Resorts Ltd. (NASDAQ:WYNN) shares traded down 2.8% during mid-day trading on Friday . The stock traded as low as $99.28 and last traded at $99.79, with a volume of 1,998,632 shares. The stock had previously closed at $102.66.
Several research analysts have issued reports on the company. Credit Agricole SA lowered Wynn Resorts from an “outperform” rating to an “underperform” rating in a research note on Friday, July 29th. Telsey Advisory Group increased their price objective on Wynn Resorts from $112.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, July 29th. Nomura lowered Wynn Resorts from a “neutral” rating to a “reduce” rating and increased their price objective for the stock from $78.00 to $83.00 in a research note on Friday, July 29th. Vetr lowered Wynn Resorts from a “buy” rating to a “hold” rating and set a $103.36 price objective for the company. in a research note on Tuesday, July 26th. Finally, Buckingham Research assumed coverage on Wynn Resorts in a research note on Friday. They set a “buy” rating and a $113.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $97.35.
The company has a 50 day moving average price of $95.47 and a 200-day moving average price of $89.94. The firm has a market cap of $10.12 billion and a P/E ratio of 30.86.
Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Thursday, July 28th. The casino operator reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.16. During the same period last year, the firm posted $0.74 EPS. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. Wynn Resorts’s quarterly revenue was up 1.7% on a year-over-year basis. On average, equities research analysts forecast that Wynn Resorts Ltd. will post $3.98 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 23rd. Stockholders of record on Thursday, August 11th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, August 9th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.01%.
A number of institutional investors have recently modified their holdings of the company. Platinum Investment Management Ltd. purchased a new position in shares of Wynn Resorts during the fourth quarter worth about $84,501,000. Dimensional Fund Advisors LP boosted its position in shares of Wynn Resorts by 2.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 126,494 shares of the casino operator’s stock worth $8,751,000 after buying an additional 3,622 shares during the last quarter. Stephens Inc. AR boosted its position in shares of Wynn Resorts by 183.0% in the fourth quarter. Stephens Inc. AR now owns 27,928 shares of the casino operator’s stock worth $1,932,000 after buying an additional 18,058 shares during the last quarter. Andra AP fonden boosted its position in shares of Wynn Resorts by 137.7% in the fourth quarter. Andra AP fonden now owns 16,400 shares of the casino operator’s stock worth $1,135,000 after buying an additional 9,500 shares during the last quarter. Finally, Aberdeen Asset Management PLC UK boosted its position in shares of Wynn Resorts by 12.2% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 21,054 shares of the casino operator’s stock worth $1,330,000 after buying an additional 2,290 shares during the last quarter.
Wynn Resorts, Limited is a developer, owner and operator of destination casino resorts that integrate accommodations and a range of amenities, including dining outlets, retail offerings, entertainment theaters and meeting complexes. The Company operates through two segments: Macau Operations and Las Vegas Operations.
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