Wynn Resorts (NASDAQ:WYNN) Reaches New 1-Year Low – Time to Sell?

Wynn Resorts, Limited (NASDAQ:WYNN) reached a new 52-week low during trading on Wednesday. The stock traded as low as $75.71 and last traded at $75.9610, with a volume of 130375 shares trading hands. The stock had previously closed at $76.62.

Wall Street Analysts Forecast Growth

WYNN has been the topic of several recent research reports. Stifel Nicolaus set a $143.00 target price on shares of Wynn Resorts in a research note on Wednesday, August 5th. Wells Fargo & Company cut their price objective on shares of Wynn Resorts from $141.00 to $131.00 and set an “overweight” rating on the stock in a report on Wednesday, August 5th. Wolfe Research initiated coverage on shares of Wynn Resorts in a report on Wednesday, September 2nd. They set an “outperform” rating and a $128.00 target price for the company. Morgan Stanley reiterated an “overweight” rating and set a $128.00 target price on shares of Wynn Resorts in a research report on Wednesday, July 22nd. Finally, The Goldman Sachs Group set a $120.00 price objective on shares of Wynn Resorts in a research note on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Wynn Resorts currently has a consensus rating of “Moderate Buy” and a consensus target price of $133.35.

Wynn Resorts Stock Performance

The firm has a fifty day moving average price of $91.75 and a 200 day moving average price of $98.03. The company has a market cap of $7.79 billion, a price-to-earnings ratio of 18.83, a P/E/G ratio of 0.93 and a beta of 0.96.

Wynn Resorts (NASDAQ:WYNN) last issued its earnings results on Tuesday, August 4th. The casino operator reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.25. Wynn Resorts had a net margin of 6.05% and a negative return on equity of 46.52%. The business had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same period last year, the business posted $1.09 EPS. Wynn Resorts’s revenue was up 6.9% on a year-over-year basis. On average, analysts expect that Wynn Resorts, Limited will post 4.55 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, August 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.3%. Wynn Resorts’s dividend payout ratio (DPR) is 24.81%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. lifted its holdings in shares of Wynn Resorts by 56.6% during the second quarter. Envestnet Asset Management Inc. now owns 20,324 shares of the casino operator’s stock worth $1,973,000 after buying an additional 7,348 shares in the last quarter. State Street Corp increased its position in Wynn Resorts by 2.6% during the second quarter. State Street Corp now owns 3,047,930 shares of the casino operator’s stock worth $295,924,000 after acquiring an additional 77,416 shares during the period. Tidal Investments LLC acquired a new stake in Wynn Resorts in the 2nd quarter worth about $278,000. Nykredit A S bought a new stake in Wynn Resorts in the 2nd quarter valued at about $307,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Wynn Resorts during the 2nd quarter worth approximately $495,000. Institutional investors own 88.64% of the company’s stock.

About Wynn Resorts

Wynn Resorts, Ltd. is a developer and operator of luxury integrated resorts that combine casino gaming, hotel accommodations, fine dining, entertainment, retail, and convention facilities. Its properties are designed to serve leisure travelers, convention visitors, and gaming customers.

The company operates Wynn and Encore resorts in Las Vegas, Nevada; Wynn Macau and Wynn Palace in Macau; and Encore Boston Harbor in Everett, Massachusetts. These properties offer casino floors, guest rooms and suites, restaurants, spas, theaters and other amenities, with operations serving customers from the United States, China and international markets.

Wynn Resorts was founded in 2002 by Steve Wynn, who previously helped develop major casino resorts in Las Vegas and Macau.