Wynn Resorts (NASDAQ:WYNN) Given New $135.00 Price Target at JPMorgan Chase & Co.

Wynn Resorts (NASDAQ:WYNN) had its price objective cut by JPMorgan Chase & Co. from $140.00 to $135.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have an overweight rating on the casino operator’s stock.

WYNN has been the subject of a number of other research reports. Morgan Stanley cut their price target on Wynn Resorts from $139.00 to $136.00 and set an “overweight” rating for the company in a research note on Wednesday, February 25th. Jefferies Financial Group cut their price target on Wynn Resorts from $161.00 to $150.00 and set a “buy” rating for the company in a research note on Monday, April 6th. Susquehanna cut their price target on Wynn Resorts from $133.00 to $127.00 and set a “positive” rating for the company in a research note on Thursday, April 16th. Texas Capital upgraded Wynn Resorts to a “strong-buy” rating in a research note on Thursday, January 8th. Finally, Mizuho increased their price target on Wynn Resorts from $131.00 to $134.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 17th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Wynn Resorts has an average rating of “Moderate Buy” and a consensus target price of $140.43.

Wynn Resorts Trading Down 4.1%

Shares of WYNN opened at $102.42 on Friday. The firm has a market cap of $10.66 billion, a PE ratio of 30.57, a P/E/G ratio of 5.93 and a beta of 1.01. The firm has a fifty day simple moving average of $103.76 and a two-hundred day simple moving average of $114.38. Wynn Resorts has a 1-year low of $82.63 and a 1-year high of $134.72.

Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Thursday, May 7th. The casino operator reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.07. The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.82 billion. Wynn Resorts had a net margin of 5.14% and a negative return on equity of 40.31%. The company’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.07 EPS. As a group, research analysts forecast that Wynn Resorts will post 4.93 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Monday, May 18th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, May 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.0%. Wynn Resorts’s dividend payout ratio (DPR) is presently 33.33%.

Institutional Trading of Wynn Resorts

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WYNN. Pacific Heights Asset Management LLC grew its stake in shares of Wynn Resorts by 30.4% in the third quarter. Pacific Heights Asset Management LLC now owns 150,000 shares of the casino operator’s stock worth $19,240,000 after acquiring an additional 35,000 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in shares of Wynn Resorts by 19.1% in the third quarter. Thrivent Financial for Lutherans now owns 891,661 shares of the casino operator’s stock worth $114,374,000 after acquiring an additional 142,892 shares in the last quarter. Rakuten Investment Management Inc. acquired a new position in shares of Wynn Resorts in the third quarter worth $51,163,000. Capital Advisors Ltd. LLC grew its stake in shares of Wynn Resorts by 433,217.6% in the fourth quarter. Capital Advisors Ltd. LLC now owns 73,664 shares of the casino operator’s stock worth $8,864,000 after acquiring an additional 73,647 shares in the last quarter. Finally, Hussman Strategic Advisors Inc. acquired a new position in shares of Wynn Resorts in the third quarter worth $1,347,000. 88.64% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Wynn Resorts

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

• Positive Sentiment: Wynn Resorts beat first-quarter estimates, reporting earnings of $1.25 per share on revenue of $1.86 billion, with sales up 9.2% year over year and gains in Wynn Palace and Las Vegas performance. Article Title
• Positive Sentiment: Analysts at Citi and JPMorgan kept bullish ratings on WYNN even after trimming price targets to $132 and $135, respectively, both still implying meaningful upside from current levels. Article Title
• Positive Sentiment: Options activity was unusually heavy, with traders buying far more call options than normal, suggesting some investors are positioning for a continued move higher.
• Neutral Sentiment: Wynn also declared a quarterly dividend of $0.25 per share, which provides a modest yield but is not a major near-term catalyst.
• Negative Sentiment: Despite the earnings beat, some market commentary noted that the quarter may lack a clear new catalyst, which could limit follow-through in the shares. Article Title
• Negative Sentiment: One market wrap noted the stock can still underperform the broader market even on positive days, suggesting investors remain selective about the outlook. Article Title

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.