Wynn Resorts Ltd. (WYNN) PT Set at $97.00 by Credit Agricole SA
Wynn Resorts Ltd. (NASDAQ:WYNN) received a $97.00 price target from equities research analysts at Credit Agricole SA in a research note issued on Monday. The brokerage presently has a a “sell” rating on the casino operator’s stock. Credit Agricole SA’s price target indicates a potential downside of 6.27% from the stock’s current price.
A number of other research firms have also weighed in on WYNN. Nomura lowered shares of Wynn Resorts from a “neutral” rating to a “reduce” rating and lifted their price objective for the company from $78.00 to $83.00 in a research report on Friday, July 29th. Vetr raised Wynn Resorts from a “buy” rating to a “strong-buy” rating and set a $112.54 target price for the company in a report on Wednesday, August 10th. Morgan Stanley reissued an “overweight” rating on shares of Wynn Resorts in a report on Wednesday, June 29th. JPMorgan Chase & Co. downgraded Wynn Resorts from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $101.00 to $94.00 in a report on Thursday, July 14th. They noted that the move was a valuation call. Finally, Susquehanna reissued a “neutral” rating and issued a $105.00 target price on shares of Wynn Resorts in a report on Thursday, September 8th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $99.91.
Shares of Wynn Resorts (NASDAQ:WYNN) opened at 103.49 on Monday. Wynn Resorts has a one year low of $49.95 and a one year high of $109.50. The company has a 50 day moving average of $98.22 and a 200-day moving average of $95.10. The stock has a market cap of $10.50 billion, a price-to-earnings ratio of 32.02 and a beta of 2.00.
Wynn Resorts (NASDAQ:WYNN) last posted 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. Wynn Resorts had a net margin of 7.67% and a return on equity of 3,746.24%. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same period last year, the firm posted $0.74 EPS. Wynn Resorts’s quarterly revenue was up 1.7% on a year-over-year basis. On average, analysts anticipate that Wynn Resorts will post $3.82 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 23rd. Investors of record on Thursday, August 11th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend was Tuesday, August 9th. Wynn Resorts’s dividend payout ratio is presently 66.23%.
A number of hedge funds have recently bought and sold shares of the company. Moors & Cabot Inc. boosted its stake in Wynn Resorts by 0.3% in the second quarter. Moors & Cabot Inc. now owns 2,954 shares of the casino operator’s stock worth $268,000 after buying an additional 10 shares in the last quarter. CIBC Asset Management Inc boosted its stake in Wynn Resorts by 0.4% in the second quarter. CIBC Asset Management Inc now owns 10,842 shares of the casino operator’s stock valued at $983,000 after buying an additional 38 shares during the period. Thrivent Financial for Lutherans boosted its stake in Wynn Resorts by 2.9% in the second quarter. Thrivent Financial for Lutherans now owns 2,500 shares of the casino operator’s stock valued at $227,000 after buying an additional 70 shares during the period. Norinchukin Bank The boosted its stake in Wynn Resorts by 2.3% in the second quarter. Norinchukin Bank The now owns 4,271 shares of the casino operator’s stock valued at $387,000 after buying an additional 94 shares during the period. Finally, Advantus Capital Management Inc boosted its stake in Wynn Resorts by 1.5% in the second quarter. Advantus Capital Management Inc now owns 7,950 shares of the casino operator’s stock valued at $721,000 after buying an additional 119 shares during the period. Hedge funds and other institutional investors own 74.48% of the company’s stock.
Wynn Resorts Company Profile
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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