Wynn Resorts’ (WYNN) “Hold” Rating Reiterated at Morgan Stanley
Several other equities analysts also recently issued reports on the stock. Credit Suisse Group cut their price target on shares of Wynn Resorts from $137.00 to $119.00 and set a neutral rating for the company in a report on Tuesday, October 23rd. Bank of America reissued a hold rating and set a $125.00 price target on shares of Wynn Resorts in a report on Tuesday, October 16th. ValuEngine downgraded shares of Wynn Resorts from a sell rating to a strong sell rating in a report on Friday, September 7th. BidaskClub downgraded shares of Wynn Resorts from a sell rating to a strong sell rating in a report on Saturday, September 29th. Finally, Argus downgraded shares of Wynn Resorts from a buy rating to a hold rating and set a $135.00 price target for the company. in a report on Tuesday, August 7th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Wynn Resorts has an average rating of Hold and an average price target of $168.11.
Shares of WYNN stock opened at $112.41 on Monday. Wynn Resorts has a 12-month low of $92.50 and a 12-month high of $203.63. The stock has a market cap of $12.00 billion, a P/E ratio of 20.59, a PEG ratio of 0.83 and a beta of 1.59. The company has a quick ratio of 1.11, a current ratio of 1.14 and a debt-to-equity ratio of 5.65.
The business also recently announced a quarterly dividend, which was paid on Friday, November 30th. Shareholders of record on Wednesday, November 21st were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date was Tuesday, November 20th. Wynn Resorts’s dividend payout ratio is presently 54.95%.
In related news, Director Philip G. Satre bought 9,800 shares of the company’s stock in a transaction on Tuesday, November 13th. The stock was bought at an average cost of $103.01 per share, with a total value of $1,009,498.00. Following the completion of the purchase, the director now owns 100 shares in the company, valued at approximately $10,301. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.95% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in WYNN. BlackRock Inc. raised its stake in shares of Wynn Resorts by 12.6% in the second quarter. BlackRock Inc. now owns 5,723,598 shares of the casino operator’s stock worth $957,788,000 after acquiring an additional 641,845 shares during the last quarter. Capital International Investors raised its stake in shares of Wynn Resorts by 33.3% in the third quarter. Capital International Investors now owns 2,290,118 shares of the casino operator’s stock worth $290,982,000 after acquiring an additional 572,478 shares during the last quarter. FMR LLC grew its position in shares of Wynn Resorts by 491.2% during the 2nd quarter. FMR LLC now owns 625,891 shares of the casino operator’s stock worth $104,737,000 after buying an additional 520,025 shares during the period. Vanguard Group Inc. grew its position in shares of Wynn Resorts by 4.6% during the 3rd quarter. Vanguard Group Inc. now owns 9,850,529 shares of the casino operator’s stock worth $1,251,608,000 after buying an additional 431,304 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in shares of Wynn Resorts during the 2nd quarter worth approximately $54,151,000. 75.08% of the stock is owned by institutional investors.
About Wynn Resorts
Wynn Resorts, Limited owns and operates destination casino resorts. As of February 15, 2018, the company's Wynn Macau segment had approximately 273,000 square feet of casino space, which offered 316 table games and 988 slot machines, private gaming salons, sky casinos, and a poker pit; 2 luxury hotel towers with 1,008 guest rooms and suites; 8 food and beverage outlets; 59,000 square feet of retail space; 31,000 square feet of meeting and convention space; recreation and leisure facilities comprising 2 health clubs, spas, a salon, and a pool; and a rotunda show, a Chinese zodiac-inspired ceiling.
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