Wynn Resorts (NASDAQ:WYNN) Sets New 1-Year Low – What’s Next?

Wynn Resorts, Limited (NASDAQ:WYNN)’s share price reached a new 52-week low during trading on Monday . The stock traded as low as $93.15 and last traded at $93.54, with a volume of 347189 shares. The stock had previously closed at $95.91.

Analyst Upgrades and Downgrades

WYNN has been the topic of a number of recent analyst reports. Jefferies Financial Group cut their price target on Wynn Resorts from $161.00 to $150.00 and set a “buy” rating on the stock in a report on Monday, April 6th. Citigroup lowered their target price on Wynn Resorts from $145.00 to $132.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Wynn Resorts in a research note on Wednesday, June 24th. Barclays decreased their price target on Wynn Resorts from $143.00 to $139.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. Finally, Susquehanna cut their price objective on shares of Wynn Resorts from $133.00 to $127.00 and set a “positive” rating on the stock in a research note on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $140.00.

Wynn Resorts Stock Performance

The company’s 50 day moving average price is $102.00 and its 200-day moving average price is $107.70. The company has a market cap of $9.85 billion, a price-to-earnings ratio of 28.32, a PEG ratio of 0.89 and a beta of 0.99.

Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Thursday, May 7th. The casino operator reported $1.25 EPS for the quarter, beating the consensus estimate of $1.18 by $0.07. Wynn Resorts had a net margin of 5.14% and a negative return on equity of 42.03%. The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same period in the prior year, the business earned $1.07 earnings per share. The business’s quarterly revenue was up 9.2% on a year-over-year basis. As a group, sell-side analysts forecast that Wynn Resorts, Limited will post 4.61 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Monday, May 18th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $1.00 annualized dividend and a dividend yield of 1.1%. Wynn Resorts’s dividend payout ratio is currently 29.85%.

Hedge Funds Weigh In On Wynn Resorts

A number of hedge funds have recently modified their holdings of the stock. Capital Advisors Ltd. LLC lifted its position in shares of Wynn Resorts by 433,217.6% in the 4th quarter. Capital Advisors Ltd. LLC now owns 73,664 shares of the casino operator’s stock valued at $8,864,000 after acquiring an additional 73,647 shares in the last quarter. Westend Capital Management LLC acquired a new stake in Wynn Resorts during the 4th quarter valued at $12,084,000. Pacer Advisors Inc. raised its stake in Wynn Resorts by 97.5% during the 4th quarter. Pacer Advisors Inc. now owns 22,415 shares of the casino operator’s stock valued at $2,697,000 after purchasing an additional 11,067 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Wynn Resorts by 224.1% in the fourth quarter. SG Americas Securities LLC now owns 82,859 shares of the casino operator’s stock valued at $9,970,000 after purchasing an additional 57,293 shares in the last quarter. Finally, Sequoia Financial Advisors LLC boosted its position in shares of Wynn Resorts by 46.1% in the fourth quarter. Sequoia Financial Advisors LLC now owns 770,178 shares of the casino operator’s stock worth $92,676,000 after buying an additional 243,179 shares during the period. 88.64% of the stock is currently owned by institutional investors and hedge funds.

About Wynn Resorts

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.