Wynn Resorts (NASDAQ:WYNN) Upgraded by BidaskClub to “Hold”

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BidaskClub upgraded shares of Wynn Resorts (NASDAQ:WYNN) from a sell rating to a hold rating in a report released on Thursday, BidAskClub reports.

WYNN has been the topic of a number of other reports. Deutsche Bank set a $150.00 price target on Wynn Resorts and gave the company a buy rating in a research note on Wednesday, August 7th. Jefferies Financial Group lifted their price target on Wynn Resorts from $160.00 to $165.00 and gave the company a buy rating in a research note on Thursday, July 11th. Morgan Stanley cut their price target on Wynn Resorts from $135.00 to $130.00 and set an equal weight rating on the stock in a research note on Thursday, June 6th. Barclays reissued a buy rating on shares of Wynn Resorts in a research note on Wednesday, May 15th. Finally, UBS Group cut their price target on Wynn Resorts from $119.00 to $114.00 and set a neutral rating on the stock in a research note on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $136.93.

NASDAQ:WYNN traded up $0.25 during trading hours on Thursday, hitting $117.33. The company’s stock had a trading volume of 102,159 shares, compared to its average volume of 2,263,807. The stock has a fifty day simple moving average of $114.70 and a 200-day simple moving average of $124.16. The company has a market capitalization of $12.58 billion, a P/E ratio of 17.95, a PEG ratio of 2.07 and a beta of 2.05. The company has a debt-to-equity ratio of 5.00, a current ratio of 1.00 and a quick ratio of 0.95. Wynn Resorts has a twelve month low of $90.06 and a twelve month high of $151.50.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings data on Tuesday, August 6th. The casino operator reported $1.44 earnings per share for the quarter, meeting the consensus estimate of $1.44. The business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.60 billion. Wynn Resorts had a return on equity of 34.98% and a net margin of 12.41%. Wynn Resorts’s revenue was up 3.3% compared to the same quarter last year. During the same period last year, the firm posted $1.53 earnings per share. On average, equities analysts predict that Wynn Resorts will post 5.64 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Friday, August 16th were given a dividend of $1.00 per share. The ex-dividend date was Thursday, August 15th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.41%. Wynn Resorts’s dividend payout ratio (DPR) is 61.16%.

Several institutional investors and hedge funds have recently modified their holdings of WYNN. Egerton Capital UK LLP raised its position in shares of Wynn Resorts by 201.7% during the first quarter. Egerton Capital UK LLP now owns 2,303,387 shares of the casino operator’s stock worth $274,840,000 after acquiring an additional 1,539,927 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Wynn Resorts by 9.9% in the second quarter. Price T Rowe Associates Inc. MD now owns 8,857,209 shares of the casino operator’s stock worth $1,098,205,000 after purchasing an additional 801,270 shares in the last quarter. FMR LLC increased its holdings in Wynn Resorts by 75.3% in the first quarter. FMR LLC now owns 1,235,412 shares of the casino operator’s stock worth $147,409,000 after purchasing an additional 530,731 shares in the last quarter. Nuveen Asset Management LLC bought a new stake in Wynn Resorts in the second quarter worth approximately $54,333,000. Finally, Hoplite Capital Management L.P. bought a new stake in Wynn Resorts in the second quarter worth approximately $29,677,000. Institutional investors own 75.75% of the company’s stock.

About Wynn Resorts

Wynn Resorts, Limited owns and operates destination casino resorts. As of February 20, 2019, the company's Wynn Palace segment had approximately 424,000 square feet of casino space, which offered 320 table games and 1,041 slot machines, private gaming salons, and sky casinos; a luxury hotel towers with 1,706 guest rooms, suites, and villas; 13 food and beverage outlets; 106,000 square feet of retail space; 37,000 square feet of meeting and convention space; recreation and leisure facilities comprising a gondola ride, health club, spa, salon, and pool; and public attractions, such as performance lake and floral art displays.

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Analyst Recommendations for Wynn Resorts (NASDAQ:WYNN)

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