Wynn Resorts (NASDAQ:WYNN) Reaches New 52-Week Low - Here's What Happened

Key Points

• Wynn Resorts hit a new 52-week low on Thursday, trading as low as $92.52 before last changing hands around $95.99.
• Analyst sentiment remains mostly positive despite recent price-target cuts, with the stock carrying a Moderate Buy consensus and an average target price of $135.94.
• The company recently beat quarterly earnings expectations, reporting $1.25 EPS on revenue of $1.86 billion, and it also paid a quarterly dividend of $0.25 per share.

Wynn Resorts, Limited (NASDAQ:WYNN - Get Free Report) shares reached a new 52-week low during trading on Thursday . The stock traded as low as $92.52 and last traded at $95.9930, with a volume of 67156 shares traded. The stock had previously closed at $94.37.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Weiss Ratings reissued a "hold (c)" rating on shares of Wynn Resorts in a research note on Wednesday, June 24th. Stifel Nicolaus reduced their price target on shares of Wynn Resorts from $150.00 to $140.00 and set a "buy" rating on the stock in a research report on Thursday, July 16th. Mizuho lowered their price objective on shares of Wynn Resorts from $134.00 to $133.00 and set an "outperform" rating for the company in a research note on Tuesday, May 12th. Citigroup cut their target price on shares of Wynn Resorts from $145.00 to $132.00 and set a "buy" rating on the stock in a research note on Friday, May 8th. Finally, Truist Financial began coverage on shares of Wynn Resorts in a report on Wednesday, July 8th. They set a "buy" rating and a $125.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $135.94.

Wynn Resorts Price Performance

The company has a market cap of $9.95 billion, a PE ratio of 28.66, a P/E/G ratio of 0.93 and a beta of 0.99. The business's 50 day moving average is $100.16 and its 200-day moving average is $105.20.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The casino operator reported $1.25 EPS for the quarter, beating analysts' consensus estimates of $1.18 by $0.07. Wynn Resorts had a net margin of 5.14% and a negative return on equity of 42.03%. The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the prior year, the firm posted $1.07 EPS. The company's quarterly revenue was up 9.2% compared to the same quarter last year. As a group, sell-side analysts predict that Wynn Resorts, Limited will post 4.52 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 18th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Monday, May 18th. Wynn Resorts's dividend payout ratio is 29.85%.

Institutional Trading of Wynn Resorts

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Hantz Financial Services Inc. increased its holdings in shares of Wynn Resorts by 54.9% in the 4th quarter. Hantz Financial Services Inc. now owns 251 shares of the casino operator's stock valued at $30,000 after acquiring an additional 89 shares during the last quarter. Cromwell Holdings LLC lifted its stake in Wynn Resorts by 68.2% during the fourth quarter. Cromwell Holdings LLC now owns 254 shares of the casino operator's stock worth $31,000 after purchasing an additional 103 shares during the last quarter. MUFG Securities EMEA plc acquired a new position in Wynn Resorts in the second quarter valued at approximately $25,000. SHP Wealth Management acquired a new position in Wynn Resorts in the fourth quarter valued at approximately $32,000. Finally, International Assets Investment Management LLC purchased a new position in Wynn Resorts in the fourth quarter valued at approximately $34,000. 88.64% of the stock is currently owned by institutional investors and hedge funds.

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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