Wynn Resorts (NASDAQ:WYNN) Downgraded by StockNews.com

StockNews.com lowered shares of Wynn Resorts (NASDAQ:WYNN) from a buy rating to a hold rating in a report issued on Wednesday morning.

WYNN has been the topic of several other reports. Seaport Res Ptn raised shares of Wynn Resorts from a hold rating to a strong-buy rating in a research report on Thursday, May 30th. Macquarie dropped their price objective on shares of Wynn Resorts from $128.00 to $126.00 and set an outperform rating on the stock in a research report on Tuesday. Citigroup increased their price objective on shares of Wynn Resorts from $132.00 to $138.00 and gave the company a buy rating in a research report on Wednesday, May 8th. Mizuho began coverage on shares of Wynn Resorts in a research report on Thursday, April 4th. They issued a buy rating and a $131.00 price objective on the stock. Finally, Barclays increased their price objective on shares of Wynn Resorts from $124.00 to $128.00 and gave the company an overweight rating in a research report on Thursday, May 9th. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $119.53.

Wynn Resorts Price Performance

Shares of WYNN stock opened at $85.83 on Wednesday. The stock has a market cap of $9.62 billion, a P/E ratio of 11.76 and a beta of 1.82. The company has a fifty day moving average price of $91.81 and a two-hundred day moving average price of $96.55. Wynn Resorts has a one year low of $81.65 and a one year high of $112.25.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Tuesday, May 7th. The casino operator reported $1.59 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.16. The firm had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Wynn Resorts had a net margin of 12.36% and a negative return on equity of 46.04%. The company’s revenue for the quarter was up 30.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.29 earnings per share. As a group, equities research analysts anticipate that Wynn Resorts will post 5.63 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Monday, May 20th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, May 17th. This represents a $1.00 dividend on an annualized basis and a yield of 1.17%. Wynn Resorts’s payout ratio is 13.70%.

Insiders Place Their Bets

In other Wynn Resorts news, Director Betsy S. Atkins sold 2,446 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $94.39, for a total transaction of $230,877.94. Following the sale, the director now directly owns 9,226 shares in the company, valued at $870,842.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.52% of the company’s stock.

Institutional Investors Weigh In On Wynn Resorts

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Wynn Resorts by 1.5% during the first quarter. Vanguard Group Inc. now owns 11,028,618 shares of the casino operator’s stock worth $1,127,456,000 after buying an additional 166,594 shares in the last quarter. Fisher Asset Management LLC boosted its stake in shares of Wynn Resorts by 0.5% in the 4th quarter. Fisher Asset Management LLC now owns 3,931,323 shares of the casino operator’s stock valued at $358,183,000 after purchasing an additional 20,091 shares in the last quarter. Norges Bank acquired a new stake in shares of Wynn Resorts in the 4th quarter valued at approximately $157,305,000. Janus Henderson Group PLC boosted its stake in shares of Wynn Resorts by 22.2% in the 1st quarter. Janus Henderson Group PLC now owns 1,125,718 shares of the casino operator’s stock valued at $115,082,000 after purchasing an additional 204,852 shares in the last quarter. Finally, Bamco Inc. NY boosted its stake in shares of Wynn Resorts by 5.1% in the 1st quarter. Bamco Inc. NY now owns 788,335 shares of the casino operator’s stock valued at $80,591,000 after purchasing an additional 38,160 shares in the last quarter. 68.87% of the stock is currently owned by institutional investors and hedge funds.

Wynn Resorts Company Profile

Wynn Resorts, Limited designs, develops, and operates integrated resorts. The company operates through four segments: Wynn Palace, Wynn Macau, Las Vegas Operations, and Encore Boston Harbor. The Wynn Palace segment operates private gaming salons and sky casinos; a luxury hotel tower with suites, and villas, including a health club, spa, salon, and pool; food and beverage outlets; retail space; meeting and convention space; and performance lake and floral art displays.