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

Key Points

• Wynn Resorts shares hit a new 52-week low, falling to $92.25 and trading below both their 50-day ($99.00) and 200-day ($102.33) moving averages.
• Despite the decline, analysts maintain a “Moderate Buy” consensus, with 17 Buy or Strong Buy ratings and an average price target of $134.19—well above the current trading level.
• Wynn recently exceeded quarterly expectations, reporting $1.24 in EPS and $1.86 billion in revenue, while paying a $0.25 quarterly dividend. Institutional investors own approximately 88.64% of the company’s stock.

Wynn Resorts, Limited (NASDAQ:WYNN - Get Free Report) shares hit a new 52-week low during trading on Monday . The stock traded as low as $92.25 and last traded at $92.4620, with a volume of 193994 shares changing hands. The stock had previously closed at $95.26.

Analysts Set New Price Targets

WYNN has been the subject of several research reports. Stifel Nicolaus set a $143.00 price objective on shares of Wynn Resorts in a research note on Wednesday, August 5th. Bank of America cut their target price on shares of Wynn Resorts from $150.00 to $140.00 and set a "buy" rating for the company in a report on Monday, May 11th. JPMorgan Chase & Co. lowered their price target on Wynn Resorts from $135.00 to $134.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 15th. Truist Financial initiated coverage on shares of Wynn Resorts in a report on Wednesday, July 8th. They set a "buy" rating and a $125.00 price objective on the stock. Finally, Barclays lifted their price target on Wynn Resorts from $134.00 to $136.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $134.19.

Wynn Resorts Stock Performance

The company's 50-day moving average price is $99.00 and its 200 day moving average price is $102.33. The stock has a market cap of $9.50 billion, a PE ratio of 22.90, a price-to-earnings-growth ratio of 0.83 and a beta of 1.01.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same period in the previous year, the firm earned $1.09 EPS. Wynn Resorts's revenue was up 6.9% on a year-over-year basis. As a group, equities research analysts predict that Wynn Resorts, Limited will post 4.65 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.00 annualized dividend and a yield of 1.1%. Wynn Resorts's dividend payout ratio is presently 24.81%.

Hedge Funds Weigh In On Wynn Resorts

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Wynn Resorts by 10.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,961 shares of the casino operator's stock valued at $665,000 after acquiring an additional 754 shares during the last quarter. Woodline Partners LP lifted its holdings in shares of Wynn Resorts by 36.2% in the 1st quarter. Woodline Partners LP now owns 7,568 shares of the casino operator's stock valued at $632,000 after purchasing an additional 2,012 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Wynn Resorts by 69.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator's stock valued at $32,000 after purchasing an additional 156 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of Wynn Resorts by 13.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,659 shares of the casino operator's stock valued at $155,000 after purchasing an additional 201 shares during the period. Finally, Guggenheim Capital LLC grew its stake in Wynn Resorts by 9.5% during the 2nd quarter. Guggenheim Capital LLC now owns 10,008 shares of the casino operator's stock worth $937,000 after buying an additional 868 shares during the last quarter. Hedge funds and other institutional investors own 88.64% of the company's stock.

Wynn Resorts Company Profile

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.

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