Wynn Resorts (NASDAQ:WYNN) Hits New 1-Year Low – Here’s Why

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

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on WYNN shares. Susquehanna reduced their price objective on shares of Wynn Resorts from $133.00 to $127.00 and set a “positive” rating for the company in a report on Thursday, April 16th. Weiss Ratings restated a “hold (c)” rating on shares of Wynn Resorts in a report on Wednesday, June 24th. Bank of America cut their price target on Wynn Resorts from $150.00 to $140.00 and set a “buy” rating for the company in a research note on Monday, May 11th. Wells Fargo & Company set a $142.00 price objective on Wynn Resorts and gave the stock an “overweight” rating in a report on Sunday, May 10th. Finally, Morgan Stanley lowered their price objective on Wynn Resorts from $136.00 to $133.00 and set an “overweight” rating for the company in a research note on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $139.06.

Wynn Resorts Price Performance

The stock has a fifty day moving average of $101.62 and a 200 day moving average of $107.28. The firm has a market capitalization of $10.00 billion, a P/E ratio of 28.76, a price-to-earnings-growth ratio of 0.89 and a beta of 0.99.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data on Thursday, May 7th. The casino operator reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.07. The business had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.82 billion. Wynn Resorts had a negative return on equity of 42.03% and a net margin of 5.14%.The business’s revenue was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.07 earnings per share. Equities analysts forecast that Wynn Resorts, Limited will post 4.61 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Monday, May 18th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Monday, May 18th. Wynn Resorts’s payout ratio is presently 29.85%.

Institutional Investors Weigh In On Wynn Resorts

Several large investors have recently modified their holdings of the stock. Hantz Financial Services Inc. grew its holdings in Wynn Resorts by 54.9% during the fourth quarter. Hantz Financial Services Inc. now owns 251 shares of the casino operator’s stock valued at $30,000 after purchasing an additional 89 shares during the period. Cromwell Holdings LLC raised its stake in shares of Wynn Resorts by 68.2% in the fourth quarter. Cromwell Holdings LLC now owns 254 shares of the casino operator’s stock valued at $31,000 after buying an additional 103 shares during the period. MUFG Securities EMEA plc purchased a new position in shares of Wynn Resorts during the 2nd quarter valued at $25,000. SHP Wealth Management purchased a new position in shares of Wynn Resorts during the 4th quarter valued at $32,000. Finally, International Assets Investment Management LLC bought a new position in shares of Wynn Resorts during the 4th quarter worth $34,000. Hedge funds and other institutional investors own 88.64% of the company’s stock.

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.