Wynn Resorts (WYNN) Upgraded to Positive by Susquehanna Bancshares
Susquehanna Bancshares upgraded shares of Wynn Resorts (NASDAQ:WYNN) from a neutral rating to a positive rating in a research report sent to investors on Thursday morning, MarketBeat.com reports. The brokerage currently has $196.00 price objective on the casino operator’s stock, down from their prior price objective of $211.00.
WYNN has been the topic of a number of other reports. Deutsche Bank reaffirmed a buy rating and issued a $167.00 price target on shares of Wynn Resorts in a research note on Tuesday, November 21st. Morgan Stanley raised their price target on shares of Wynn Resorts from $151.00 to $158.00 and gave the company an overweight rating in a research note on Friday, October 13th. Goldman Sachs Group raised shares of Wynn Resorts from a sell rating to a neutral rating in a research note on Sunday, February 4th. Citigroup set a $228.00 price target on shares of Wynn Resorts and gave the company a buy rating in a research note on Tuesday, January 23rd. Finally, Jefferies Group started coverage on shares of Wynn Resorts in a research note on Thursday, January 18th. They issued a buy rating and a $202.00 price target on the stock. Ten research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Wynn Resorts currently has an average rating of Buy and a consensus price target of $179.62.
Wynn Resorts (NASDAQ:WYNN) traded down $7.53 during mid-day trading on Thursday, hitting $161.75. 3,291,303 shares of the stock traded hands, compared to its average volume of 6,042,401. The company has a debt-to-equity ratio of 24.54, a quick ratio of 1.68 and a current ratio of 1.72. Wynn Resorts has a twelve month low of $92.67 and a twelve month high of $203.63. The stock has a market cap of $18,225.39, a price-to-earnings ratio of 22.21 and a beta of 1.59.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 27th. Stockholders of record on Thursday, February 15th will be issued a dividend of $0.50 per share. The ex-dividend date is Wednesday, February 14th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.24%. Wynn Resorts’s dividend payout ratio is currently 27.51%.
In other news, President Matt Maddox sold 59,260 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $155.12, for a total transaction of $9,192,411.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 13.20% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. First Personal Financial Services increased its holdings in shares of Wynn Resorts by 102.9% during the 3rd quarter. First Personal Financial Services now owns 710 shares of the casino operator’s stock worth $106,000 after buying an additional 360 shares during the last quarter. Mckinley Capital Management LLC Delaware acquired a new stake in shares of Wynn Resorts during the 4th quarter worth approximately $171,000. Calton & Associates Inc. acquired a new stake in shares of Wynn Resorts during the 4th quarter worth approximately $178,000. IBM Retirement Fund acquired a new stake in shares of Wynn Resorts during the 4th quarter worth approximately $201,000. Finally, Segment Wealth Management LLC acquired a new stake in shares of Wynn Resorts during the 4th quarter worth approximately $217,000. Institutional investors and hedge funds own 72.27% of the company’s stock.
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About Wynn Resorts
Wynn Resorts, Limited (Wynn Resorts) 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’s segments include Macau Operations and Las Vegas Operations.
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