Investors Buy Wynn Resorts Ltd. (WYNN) on Weakness
Traders purchased shares of Wynn Resorts Ltd. (NASDAQ:WYNN) on weakness during trading hours on Friday. $74.79 million flowed into the stock on the tick-up and $66.44 million flowed out of the stock on the tick-down, for a money net flow of $8.35 million into the stock. Of all stocks tracked, Wynn Resorts had the 15th highest net in-flow for the day. Wynn Resorts traded down ($0.66) for the day and closed at $89.85
Several equities analysts have recently weighed in on WYNN shares. Nomura downgraded Wynn Resorts from a “neutral” rating to a “reduce” rating and raised their price target for the company from $78.00 to $83.00 in a report on Friday, July 29th. Vetr upgraded Wynn Resorts from a “buy” rating to a “strong-buy” rating and set a $112.54 price target for the company in a report on Wednesday, August 10th. Morgan Stanley restated an “overweight” rating on shares of Wynn Resorts in a report on Wednesday, June 29th. JPMorgan Chase & Co. restated an “overweight” rating on shares of Wynn Resorts in a report on Thursday, May 5th. Finally, Gabelli restated a “buy” rating on shares of Wynn Resorts in a report on Sunday, May 8th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $97.33.
The stock has a market cap of $9.11 billion and a price-to-earnings ratio of 27.80. The stock has a 50 day moving average price of $97.21 and a 200-day moving average price of $92.33.
Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Thursday, July 28th. The casino operator reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.16. The firm earned $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same period in the prior year, the company posted $0.74 earnings per share. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. On average, analysts expect that Wynn Resorts Ltd. will post $3.81 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 23rd. Stockholders of record on Thursday, August 11th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date of this dividend was Tuesday, August 9th.
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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