Wynn Resorts (NASDAQ:WYNN) Trading Down 7.3% – What’s Next?

Wynn Resorts, Limited (NASDAQ:WYNN)’s share price fell 7.3% during mid-day trading on Monday . The company traded as low as $109.20 and last traded at $106.4970. 126,952 shares were traded during mid-day trading, a decline of 91% from the average session volume of 1,429,228 shares. The stock had previously closed at $114.87.

Wall Street Analysts Forecast Growth

WYNN has been the subject of a number of recent analyst reports. Mizuho boosted their price objective on shares of Wynn Resorts from $131.00 to $134.00 and gave the stock an “outperform” rating in a report on Tuesday, February 17th. Zacks Research cut Wynn Resorts from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 25th. JPMorgan Chase & Co. increased their price objective on Wynn Resorts from $138.00 to $145.00 and gave the company an “overweight” rating in a research report on Monday, December 8th. Barclays raised their price target on shares of Wynn Resorts from $141.00 to $143.00 and gave the company an “overweight” rating in a report on Friday, January 16th. Finally, Morgan Stanley lifted their price target on shares of Wynn Resorts from $132.00 to $139.00 and gave the stock an “overweight” rating in a research note on Friday, January 16th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $139.07.

Wynn Resorts Trading Down 7.1%

The firm has a 50 day moving average price of $117.41 and a 200 day moving average price of $120.52. The stock has a market capitalization of $11.10 billion, a PE ratio of 35.59, a price-to-earnings-growth ratio of 13.58 and a beta of 1.06.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Thursday, February 12th. The casino operator reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.16). Wynn Resorts had a net margin of 4.59% and a negative return on equity of 38.04%. The business had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same period in the prior year, the business earned $2.42 earnings per share. Wynn Resorts’s revenue was up 1.5% compared to the same quarter last year. On average, equities research analysts expect that Wynn Resorts, Limited will post 5.17 EPS for the current year.

Wynn Resorts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 4th. Investors of record on Monday, February 23rd will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.9%. The ex-dividend date is Monday, February 23rd. Wynn Resorts’s dividend payout ratio is presently 33.33%.

Hedge Funds Weigh In On Wynn Resorts

A number of institutional investors have recently modified their holdings of the stock. Egerton Capital UK LLP purchased a new stake in shares of Wynn Resorts during the 4th quarter worth $249,053,000. Norges Bank acquired a new position in shares of Wynn Resorts in the 2nd quarter valued at $106,289,000. Palidye Holdings Caymans Ltd purchased a new position in shares of Wynn Resorts in the second quarter worth about $104,629,000. Zurich Insurance Group Ltd FI acquired a new stake in Wynn Resorts during the 3rd quarter valued at approximately $110,213,000. Finally, Thrivent Financial for Lutherans boosted its holdings in Wynn Resorts by 6,391.3% in the second quarter. Thrivent Financial for Lutherans now owns 748,769 shares of the casino operator’s stock valued at $70,138,000 after purchasing an additional 737,234 shares during the last quarter. 88.64% of the stock is owned by hedge funds and other institutional investors.

Wynn Resorts Company Profile

Wynn Resorts, Limited (NASDAQ: WYNN) is a global developer and operator of luxury resorts and casinos, renowned for its premium hospitality offerings and integrated entertainment experiences. The company specializes in high-end hotel accommodations, gaming operations, fine dining restaurants, retail outlets, meeting and convention spaces, and live entertainment venues. Its properties are designed to cater to both leisure and business travelers seeking upscale environments and world-class service.

Founded in 2002 by hospitality entrepreneur Steve Wynn, the company opened its flagship property, Wynn Las Vegas, on the Las Vegas Strip in 2005, followed by Encore Las Vegas in 2008.