Deutsche Bank AG Reiterates “Hold” Rating for Wynn Resorts Ltd. (WYNN)
Several other equities analysts also recently commented on WYNN. Vetr downgraded shares of Wynn Resorts from a strong-buy rating to a buy rating and set a $109.61 target price on the stock. in a report on Thursday, June 2nd. Morgan Stanley upgraded shares of Wynn Resorts from an underweight rating to an equal weight rating in a research report on Friday, June 3rd. Wells Fargo & Co. restated a hold rating on shares of Wynn Resorts in a research report on Saturday, June 4th. Zacks Investment Research upgraded shares of Wynn Resorts from a hold rating to a buy rating and set a $102.00 price target on the stock in a research report on Thursday, June 30th. Finally, JPMorgan Chase & Co. cut shares of Wynn Resorts from an overweight rating to a neutral rating and reduced their price target for the stock from $101.00 to $94.00 in a research report on Thursday, July 14th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Wynn Resorts presently has a consensus rating of Hold and an average target price of $99.91.
Shares of Wynn Resorts (NASDAQ:WYNN) opened at 103.00 on Friday. The stock has a market capitalization of $10.45 billion, a PE ratio of 31.87 and a beta of 2.00. Wynn Resorts has a 52-week low of $49.95 and a 52-week high of $109.50. The stock has a 50 day moving average of $98.39 and a 200 day moving average of $95.16.
Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Thursday, July 28th. The casino operator reported $1.07 EPS for the quarter, topping the consensus estimate of $0.91 by $0.16. Wynn Resorts had a net margin of 7.67% and a return on equity of 3,746.24%. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the previous year, the firm earned $0.74 earnings per share. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. Analysts forecast that Wynn Resorts will post $3.82 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 23rd. Stockholders of record on Thursday, August 11th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, August 9th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.94%. Wynn Resorts’s payout ratio is 66.23%.
Large investors have recently modified their holdings of the company. Macquarie Group Ltd. raised its position in shares of Wynn Resorts by 3,458.3% in the second quarter. Macquarie Group Ltd. now owns 21,350 shares of the casino operator’s stock worth $1,935,000 after buying an additional 20,750 shares during the period. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Wynn Resorts during the second quarter worth about $298,000. Kentucky Retirement Systems acquired a new position in shares of Wynn Resorts during the second quarter worth about $628,000. Mason Street Advisors LLC acquired a new position in shares of Wynn Resorts during the second quarter worth about $994,000. Finally, Public Employees Retirement System of Ohio raised its position in shares of Wynn Resorts by 1.9% in the second quarter. Public Employees Retirement System of Ohio now owns 31,265 shares of the casino operator’s stock worth $2,834,000 after buying an additional 581 shares during the period. 74.48% of the stock is currently owned by institutional investors and hedge funds.
Wynn Resorts Company Profile
Wynn Resorts, Limited is a developer, owner and operator of destination casino resorts that integrate accommodations and a range of amenities, including dining outlets, retail offerings, entertainment theaters and meeting complexes. The Company operates through two segments: Macau Operations and Las Vegas Operations.
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