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

Wynn Resorts, Limited (NASDAQ:WYNN) shares hit a new 52-week low on Tuesday . The stock traded as low as $81.35 and last traded at $83.32, with a volume of 2239900 shares changing hands. The stock had previously closed at $81.68.

Key Headlines Impacting Wynn Resorts

Here are the key news stories impacting Wynn Resorts this week:

• Positive Sentiment: Wynn Resorts’ CEO and CFO voluntarily agreed to reduce their base salaries by 10% in exchange for common-stock options. The move could modestly reduce costs and aligns executive compensation more closely with shareholder returns, although the options may create some dilution. Wynn Resorts CEO and CFO salary reduction article
• Positive Sentiment: Brokerages collectively maintain a “Moderate Buy” rating on WYNN. Continued analyst support may provide a valuation cushion after the stock’s recent decline, though the rating is not an outright consensus “Strong Buy.” Wynn Resorts Moderate Buy rating article
• Neutral Sentiment: Wynn’s subsidiaries announced $900 million of senior notes due in 2035 as part of a debt-refinancing effort. Extending maturities can improve liquidity and reduce near-term refinancing risk, but the financing also highlights the company’s substantial leverage and future interest obligations. Wynn Resorts issues senior notes article Wynn Resorts debt refinancing article
• Neutral Sentiment: Reports noted a prior 2% advance in Wynn Resorts stock, but that move is historical rather than a new fundamental catalyst. Wynn Resorts prior stock gain article
• Negative Sentiment: WYNN recently reached a new one-year low. The technical weakness can reinforce selling pressure and suggests investors remain cautious despite the company’s favorable analyst ratings. Wynn Resorts one-year low article

Analysts Set New Price Targets

A number of analysts have commented on the company. Stifel Nicolaus set a $143.00 target price on Wynn Resorts in a report on Wednesday, August 5th. Argus upped their price target on Wynn Resorts from $115.00 to $130.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Wells Fargo & Company dropped their price objective on Wynn Resorts from $141.00 to $131.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 5th. Barclays upped their target price on shares of Wynn Resorts from $134.00 to $136.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. Finally, The Goldman Sachs Group set a $120.00 price target on shares of Wynn Resorts in a report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $133.35.

Wynn Resorts Price Performance

The company has a market cap of $8.39 billion, a PE ratio of 20.21, a PEG ratio of 0.99 and a beta of 1.00. The business has a 50-day moving average of $95.05 and a 200 day moving average of $99.46.

Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Tuesday, August 4th. The casino operator reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.25. Wynn Resorts had a negative return on equity of 46.52% and a net margin of 6.05%.The business had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.83 billion. During the same period last year, the firm posted $1.09 earnings per share. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, equities analysts predict that Wynn Resorts, Limited will post 4.55 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were given a $0.25 dividend. The ex-dividend date was Friday, August 14th. This represents a $1.00 annualized dividend and a yield of 1.2%. Wynn Resorts’s dividend payout ratio (DPR) is presently 24.81%.

Institutional Investors Weigh In On Wynn Resorts

Several hedge funds and other institutional investors have recently modified their holdings of WYNN. Capital World Investors increased its position in Wynn Resorts by 0.6% in the fourth quarter. Capital World Investors now owns 9,542,392 shares of the casino operator’s stock worth $1,148,236,000 after buying an additional 61,209 shares in the last quarter. BlackRock Inc. bought a new stake in Wynn Resorts during the 2nd quarter worth approximately $609,566,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in Wynn Resorts during the second quarter valued at approximately $321,402,000. State Street Corp boosted its position in shares of Wynn Resorts by 2.6% in the second quarter. State Street Corp now owns 3,047,930 shares of the casino operator’s stock worth $295,924,000 after purchasing an additional 77,416 shares during the period. Finally, Egerton Capital UK LLP purchased a new stake in shares of Wynn Resorts in the fourth quarter worth $249,053,000. 88.64% of the stock is currently owned by hedge funds and other institutional investors.

About Wynn Resorts

Wynn Resorts, Ltd. is a global luxury hospitality and entertainment company that develops and operates integrated resorts. Its properties combine casino gaming with hotel accommodations, fine dining, retail shopping, nightlife, entertainment, spas and meeting facilities.

The company operates Wynn Las Vegas and Encore Las Vegas in Nevada, Encore Boston Harbor in Massachusetts, and Wynn Macau and Encore Macau in Macau. These properties serve leisure and business travelers, gaming customers and convention guests across the United States and Asia.

Founded in 2002 by casino executive Steve Wynn, Wynn Resorts has expanded its portfolio through destination resorts focused on premium service and design.