Wynn Resorts (NASDAQ:WYNN) Hits New 52-Week Low - Here's Why

Key Points

• Wynn Resorts shares fell to a new 52-week low, trading as low as $81.35, well below their 50-day and 200-day moving averages.
• Despite the decline, analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $133.35, implying substantial upside.
• The company reported stronger-than-expected quarterly results, with $1.24 in EPS and $1.86 billion in revenue, while maintaining a quarterly dividend of $0.25 per share.

Wynn Resorts, Limited (NASDAQ:WYNN - Get Free Report)'s stock price hit a new 52-week low on Tuesday . The stock traded as low as $81.35 and last traded at $83.32, with a volume of 2239900 shares trading hands. The stock had previously closed at $81.68.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on WYNN. Wells Fargo & Company reduced their price objective on shares of Wynn Resorts from $141.00 to $131.00 and set an "overweight" rating for the company in a research report on Wednesday, August 5th. JPMorgan Chase & Co. dropped their target price 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. Barclays increased their target price on Wynn Resorts from $134.00 to $136.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 5th. Citigroup restated a "buy" rating on shares of Wynn Resorts in a research note on Thursday, August 6th. Finally, The Goldman Sachs Group set a $120.00 price objective on Wynn Resorts in a report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $133.35.

Wynn Resorts Price Performance

The company has a market capitalization of $8.58 billion, a price-to-earnings ratio of 20.67, a price-to-earnings-growth ratio of 0.98 and a beta of 1.00. The firm's 50-day simple moving average is $95.63 and its two-hundred day simple moving average is $99.78.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The casino operator reported $1.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.99 by $0.25. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.83 billion. Wynn Resorts had a net margin of 6.05% and a negative return on equity of 46.52%. The company's revenue for the quarter was up 6.9% on a year-over-year basis. During the same period last year, the firm earned $1.09 EPS. 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. Shareholders of record on Friday, August 14th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Friday, August 14th. Wynn Resorts's payout ratio is presently 24.81%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in WYNN. Tidal Investments LLC purchased a new stake in shares of Wynn Resorts in the 2nd quarter worth about $278,000. Nykredit A S purchased a new position in Wynn Resorts during the 2nd quarter valued at about $307,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Wynn Resorts during the 2nd quarter valued at about $495,000. Wedmont Private Capital raised its position in Wynn Resorts by 5.7% during the second quarter. Wedmont Private Capital now owns 2,845 shares of the casino operator's stock worth $284,000 after acquiring an additional 154 shares during the last quarter. Finally, Operose Advisors LLC lifted its holdings in shares of Wynn Resorts by 400.0% in the second quarter. Operose Advisors LLC now owns 500 shares of the casino operator's stock valued at $49,000 after purchasing an additional 400 shares in the last quarter. Institutional investors and hedge funds own 88.64% of the company's stock.

Wynn Resorts Company Profile

Wynn Resorts, Ltd. is a global luxury hospitality and entertainment company that develops and operates integrated resorts. Its properties combine casino gaming with hotel accommodations, fine dining, retail shopping, nightlife, entertainment, spas and meeting facilities.

The company operates Wynn Las Vegas and Encore Las Vegas in Nevada, Encore Boston Harbor in Massachusetts, and Wynn Macau and Encore Macau in Macau. These properties serve leisure and business travelers, gaming customers and convention guests across the United States and Asia.

Founded in 2002 by casino executive Steve Wynn, Wynn Resorts has expanded its portfolio through destination resorts focused on premium service and design.

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