Wynn Resorts, Limited (WYNN) - What Are Investment Firms Saying About This Stock?

Key Points

• Analyst sentiment is broadly positive: Twenty firms rate Wynn Resorts “Moderate Buy,” with 17 buys, two holds and one strong buy; the average 12-month price target is $120.88.
• Quarterly results missed expectations: Wynn reported EPS of $0.33 versus $0.52 expected and revenue of $1.69 billion versus $1.75 billion expected; revenue fell 7.9% year over year.
• Institutional investors own 88.64% of the stock, and Wynn declared a quarterly dividend of $0.25 per share, equivalent to a 1.2% yield.

Wynn Resorts, Limited (NASDAQ:WYNN - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the twenty ratings firms that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $120.88.

Several equities analysts recently issued reports on WYNN shares. Wolfe Research began coverage on Wynn Resorts in a research note on Wednesday, September 2nd. They set an "outperform" rating and a $128.00 price target on the stock. Barclays decreased their price objective on Wynn Resorts from $128.00 to $120.00 and set an "overweight" rating on the stock in a report on Friday, November 6th. Susquehanna restated a "positive" rating and set a $95.00 price objective on shares of Wynn Resorts in a research report on Friday, November 6th. Argus upped their target price on Wynn Resorts from $115.00 to $130.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Finally, Wells Fargo & Company reduced their target price on Wynn Resorts from $125.00 to $122.00 and set an "overweight" rating for the company in a research report on Friday, November 6th.

Hedge Funds Weigh In On Wynn Resorts

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in Wynn Resorts in the second quarter valued at about $609,566,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Wynn Resorts in the second quarter worth about $321,402,000. State Street Corp lifted its stake 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 purchasing an additional 77,416 shares during the period. Renaissance Technologies LLC lifted its stake in Wynn Resorts by 17.4% during the first quarter. Renaissance Technologies LLC now owns 1,239,956 shares of the casino operator's stock worth $125,918,000 after purchasing an additional 184,000 shares during the period. Finally, Alyeska Investment Group L.P. bought a new position in Wynn Resorts during the second quarter worth about $99,277,000. 88.64% of the stock is owned by institutional investors.

Wynn Resorts Price Performance

NASDAQ WYNN opened at $85.38 on Thursday. The company's fifty day moving average is $80.32 and its two-hundred day moving average is $97.27. Wynn Resorts has a 52-week low of $70.79 and a 52-week high of $134.72. The firm has a market capitalization of $8.76 billion, a price-to-earnings ratio of 25.49, a P/E/G ratio of 1.31 and a beta of 0.96.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last announced its quarterly earnings data on Thursday, November 5th. The casino operator reported $0.33 EPS for the quarter, missing analysts' consensus estimates of $0.52 by ($0.19). Wynn Resorts had a net margin of 5.20% and a negative return on equity of 42.73%. The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same period in the prior year, the company posted $0.86 EPS. The firm's quarterly revenue was down 7.9% on a year-over-year basis. As a group, sell-side analysts expect that Wynn Resorts will post 3.99 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 30th. Shareholders of record on Monday, November 16th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Monday, November 16th. Wynn Resorts's payout ratio is 29.85%.

Recent Wynn Resorts Headlines

Here are a few of the latest headlines about WYNN:

• Neutral Sentiment: Wynn is considering what to do with an undeveloped 38-acre Las Vegas Strip parcel across from Encore. Any value from a future project would depend on plans that have not yet been detailed. Wynn Eyes Its Empty 38-Acre Strip Lot Across From Encore Las Vegas
• Neutral Sentiment: A CNBC options strategy article notes that Wynn trades near its five-year valuation averages and that implied volatility is high, while the next earnings report is not expected until February. This is trading commentary, not a change in the company’s outlook. Bouncing Wynn Shares might be primed for the wheel strategy
• Negative Sentiment: Wynn’s third-quarter results missed expectations: EPS was $0.33 versus a $0.52 consensus, and revenue of $1.69 billion fell short of estimates and declined 7.9% year over year. The shortfall adds to concern about weaker earnings. Wynn Resorts stock faces sharp profit decline after weak Q3

About Wynn Resorts

Wynn Resorts, Limited develops and operates luxury hotels and casino resorts. Its properties offer gaming, hotel accommodations, restaurants, retail, entertainment, and convention and meeting facilities. The company's portfolio includes Wynn Las Vegas and Encore in Nevada, Encore Boston Harbor in Massachusetts, and Wynn Macau and Wynn Palace in Macau. Its operations therefore span the United States and Macau, a special administrative region of China. Founded in 2002, Wynn Resorts opened Wynn Las Vegas in 2005.

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