Wynn Resorts (NASDAQ:WYNN) Cut to Hold at StockNews.com

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

Other equities research analysts also recently issued research reports about the stock. Macquarie reissued an “outperform” rating and issued a $115.00 target price on shares of Wynn Resorts in a research report on Friday, February 14th. JPMorgan Chase & Co. boosted their target price on shares of Wynn Resorts from $101.00 to $113.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Mizuho boosted their target price on shares of Wynn Resorts from $118.00 to $132.00 and gave the stock an “outperform” rating in a research report on Friday, February 14th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Wynn Resorts from $122.00 to $118.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Finally, Jefferies Financial Group raised shares of Wynn Resorts from a “hold” rating to a “buy” rating and boosted their price objective for the company from $105.00 to $118.00 in a research report on Tuesday, February 18th. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Wynn Resorts currently has a consensus rating of “Moderate Buy” and an average price target of $119.58.

Wynn Resorts Price Performance

Wynn Resorts stock opened at $89.32 on Wednesday. Wynn Resorts has a 12-month low of $71.63 and a 12-month high of $110.38. The company has a market capitalization of $9.50 billion, a price-to-earnings ratio of 21.22, a price-to-earnings-growth ratio of 2.35 and a beta of 1.76. The firm’s fifty day moving average price is $85.35 and its 200 day moving average price is $87.77.

Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Thursday, February 13th. The casino operator reported $2.42 earnings per share for the quarter, topping the consensus estimate of $1.27 by $1.15. The company had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.78 billion. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. Analysts forecast that Wynn Resorts will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date of this dividend is Monday, February 24th. Wynn Resorts’s payout ratio is 23.75%.

Insider Buying and Selling at Wynn Resorts

In other news, Director Philip G. Satre bought 22,200 shares of Wynn Resorts stock in a transaction on Tuesday, February 18th. The stock was purchased at an average cost of $92.18 per share, with a total value of $2,046,396.00. Following the purchase, the director now directly owns 34,195 shares of the company’s stock, valued at approximately $3,152,095.10. This trade represents a 185.08 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.52% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Wynn Resorts during the 4th quarter valued at about $1,361,000. Heck Capital Advisors LLC acquired a new stake in shares of Wynn Resorts in the 4th quarter worth approximately $386,000. Mackenzie Financial Corp acquired a new stake in shares of Wynn Resorts in the 4th quarter worth approximately $282,000. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in shares of Wynn Resorts by 18.4% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,125,668 shares of the casino operator’s stock worth $269,308,000 after acquiring an additional 485,204 shares during the period. Finally, Worldquant Millennium Advisors LLC acquired a new stake in shares of Wynn Resorts in the 4th quarter worth approximately $14,413,000. 88.64% of the stock is 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.