Wynn Resorts Ltd. (WYNN) Trading Down 3.5%
Wynn Resorts Ltd. (NASDAQ:WYNN) shares fell 3.5% on Monday . The stock traded as low as $103.80 and last traded at $104.79, with a volume of 2,969,704 shares. The stock had previously closed at $108.57.
Several research firms have weighed in on WYNN. Credit Agricole SA set a $97.00 price objective on shares of Wynn Resorts and gave the stock a “sell” rating in a report on Monday. Deutsche Bank AG restated a “hold” rating on shares of Wynn Resorts in a report on Friday. Susquehanna restated a “neutral” rating and set a $105.00 price objective on shares of Wynn Resorts in a report on Thursday, September 8th. Buckingham Research began coverage on shares of Wynn Resorts in a report on Friday, August 12th. They set a “buy” rating and a $113.00 price objective on the stock. Finally, Vetr upgraded shares of Wynn Resorts from a “buy” rating to a “strong-buy” rating and set a $112.54 price objective on the stock in a report on Wednesday, August 10th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $99.91.
The stock has a market cap of $10.55 billion, a PE ratio of 32.17 and a beta of 2.00. The stock has a 50 day moving average price of $97.48 and a 200 day moving average price of $94.33.
Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Thursday, July 28th. The casino operator reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.16. The firm earned $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. Wynn Resorts had a return on equity of 3,746.24% and a net margin of 7.67%. Wynn Resorts’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.74 EPS. On average, analysts predict that Wynn Resorts Ltd. will post $3.83 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 23rd. Stockholders of record on Thursday, August 11th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.92%. The ex-dividend date was Tuesday, August 9th. Wynn Resorts’s dividend payout ratio is presently 66.23%.
Several institutional investors have recently bought and sold shares of WYNN. Euclid Advisors LLC raised its position in shares of Wynn Resorts by 7,331.2% in the first quarter. Euclid Advisors LLC now owns 286,846 shares of the casino operator’s stock worth $26,800,000 after buying an additional 282,986 shares during the period. Jericho Capital Asset Management L.P. acquired a new position in shares of Wynn Resorts during the first quarter worth $44,826,000. Geode Capital Management LLC raised its position in shares of Wynn Resorts by 2.6% in the first quarter. Geode Capital Management LLC now owns 685,308 shares of the casino operator’s stock worth $63,903,000 after buying an additional 17,611 shares during the period. Delta Lloyd NV acquired a new position in shares of Wynn Resorts during the second quarter worth $524,000. Finally, Ngam Advisors L.P. raised its position in shares of Wynn Resorts by 31.6% in the first quarter. Ngam Advisors L.P. now owns 20,504 shares of the casino operator’s stock worth $1,916,000 after buying an additional 4,923 shares during the period. 74.48% of the stock is owned by hedge funds and other institutional investors.
About Wynn Resorts
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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