Wynn Resorts (NASDAQ:WYNN) Downgraded by Wall Street Zen to Sell

Wynn Resorts (NASDAQ:WYNN) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday, Wall Street Zen reports.

Other analysts have also issued reports about the company. Wells Fargo & Company decreased their price objective on Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating on the stock in a research note on Friday. Citigroup reduced their price objective on Wynn Resorts from $135.00 to $103.00 and set a “buy” rating for the company in a research note on Monday, October 12th. Zacks Research upgraded shares of Wynn Resorts from a “strong sell” rating to a “hold” rating in a research note on Monday, August 10th. Truist Financial dropped their target price on Wynn Resorts from $125.00 to $110.00 and set a “buy” rating on the stock in a research report on Tuesday, October 20th. Finally, Morgan Stanley lowered their price objective on Wynn Resorts from $128.00 to $120.00 and set an “overweight” rating on the stock in a report on Monday, October 19th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Wynn Resorts presently has a consensus rating of “Moderate Buy” and an average price target of $121.24.

Wynn Resorts Price Performance

NASDAQ:WYNN opened at $83.11 on Friday. The firm has a market cap of $8.56 billion, a price-to-earnings ratio of 24.81, a price-to-earnings-growth ratio of 0.93 and a beta of 0.96. Wynn Resorts has a 1-year low of $70.79 and a 1-year high of $134.72. The company has a 50 day moving average price of $80.68 and a 200-day moving average price of $97.68.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Thursday, November 5th. The casino operator reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.19). Wynn Resorts had a net margin of 6.05% and a negative return on equity of 46.52%. The company had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.75 billion. During the same quarter in the prior year, the company earned $0.86 earnings per share. The firm’s revenue was down 7.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Wynn Resorts will post 4.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Wynn Resorts

Hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp increased its stake in Wynn Resorts by 2.6% in the second quarter. State Street Corp now owns 3,047,930 shares of the casino operator’s stock valued at $295,924,000 after purchasing an additional 77,416 shares during the last quarter. BlackRock Inc. acquired a new position in Wynn Resorts in the 2nd quarter valued at approximately $609,566,000. Penn Capital Management Company LLC purchased a new stake in shares of Wynn Resorts during the second quarter valued at approximately $1,752,000. Biglari Capital CORP. bought a new stake in Wynn Resorts in the 2nd quarter worth approximately $13,961,639. Finally, Bank of America Corp DE purchased a new position in shares of Wynn Resorts in the 2nd quarter worth about $74,504,000. 88.64% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Wynn Resorts

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

• Positive Sentiment: Wynn said its Al Marjan Island resort in the UAE remains on track for a September 2027 opening. Continued progress may support its longer-term growth outlook, though the project requires substantial additional equity funding. Article: Wynn outlines remaining Al Marjan equity
• Positive Sentiment: The company declared a quarterly cash dividend of $0.25 per share, payable November 30 to shareholders of record November 16. Article: Wynn Resorts declares quarterly cash dividend
• Neutral Sentiment: Several analysts lowered price targets after the results but maintained positive ratings. Deutsche Bank kept Buy at $116; Macquarie retained Outperform at $128; Barclays and Wells Fargo maintained Overweight at $120 and $122, respectively. Other target cuts included Jefferies to $132 and Mizuho to $129. The ratings remain supportive, but the reductions reflect a more cautious outlook. Article: Deutsche Bank adjusts Wynn Resorts price target
• Negative Sentiment: Third-quarter revenue fell 7.9% year over year to $1.69 billion, missing estimates, and EPS of $0.33 also came in below expectations and was down from $0.86 a year earlier. Softer Macau gaming, unfavorable Las Vegas hold and Boston labor disruptions weighed on results, with declines reported across all four operating segments. Article: Wynn Resorts Q3 earnings miss estimates
• Negative Sentiment: Wynn is maintaining its UAE opening timetable amid war-related uncertainty, while the project’s rising investment and remaining equity needs add funding and execution risk. Article: Wynn holds UAE casino date amid war

About Wynn Resorts

Wynn Resorts, Ltd. is a developer and operator of luxury integrated resorts, with a focus on destination casinos, hotels, restaurants, entertainment venues, retail, and convention facilities. Its properties are designed to combine gaming with premium hospitality and leisure experiences.

The company operates Wynn Las Vegas and Encore Las Vegas in Nevada, Encore Boston Harbor in Massachusetts, and Wynn Macau and Wynn Palace in Macau. These resorts serve visitors in the United States and international markets, offering accommodations, casino gaming, dining, nightlife, retail, spas, entertainment, and meeting and convention services.

Wynn Resorts was founded in 2002 by casino executive Steve Wynn.