Wynn Resorts (NASDAQ:WYNN) Trading Down 3.4% - Should You Sell?

Key Points

• Wynn Resorts' stock fell 3.4%, closing at $115.81 with a 66% decrease in trading volume compared to its average daily volume.
• Analysts generally hold a positive outlook on Wynn Resorts, with 13 giving it a "buy" rating and an average price target of $127.71, up from previous estimates.
• The company has recently announced a quarterly dividend of $0.25, translating to a 0.9% yield with a payout ratio of 30.03%.

Wynn Resorts, Limited (NASDAQ:WYNN - Get Free Report)'s share price dropped 3.4% during trading on Monday . The company traded as low as $113.82 and last traded at $115.81. Approximately 794,862 shares traded hands during trading, a decline of 66% from the average daily volume of 2,342,999 shares. The stock had previously closed at $119.89.

Analyst Upgrades and Downgrades

Several equities analysts have commented on WYNN shares. Jefferies Financial Group increased their price objective on shares of Wynn Resorts from $130.00 to $133.00 and gave the company a "buy" rating in a research report on Monday, August 11th. The Goldman Sachs Group lifted their price target on Wynn Resorts from $124.00 to $150.00 and gave the stock a "buy" rating in a research report on Wednesday, October 1st. Argus raised Wynn Resorts from a "hold" rating to a "buy" rating and set a $145.00 price objective for the company in a research note on Wednesday, September 3rd. Weiss Ratings reissued a "hold (c)" rating on shares of Wynn Resorts in a research report on Saturday, September 27th. Finally, Citigroup restated a "neutral" rating and set a $114.00 price target (up previously from $108.00) on shares of Wynn Resorts in a report on Wednesday, July 9th. Thirteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Wynn Resorts currently has a consensus rating of "Moderate Buy" and an average price target of $127.71.

Wynn Resorts Stock Performance

The firm's 50 day moving average is $120.33 and its 200 day moving average is $100.99. The stock has a market cap of $12.01 billion, a P/E ratio of 34.75, a price-to-earnings-growth ratio of 6.00 and a beta of 1.31.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The casino operator reported $1.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.20 by ($0.11). The business had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.74 billion. Wynn Resorts had a negative return on equity of 56.78% and a net margin of 5.51%.The business's revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the company posted $1.12 earnings per share. As a group, analysts expect that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Monday, August 18th. Wynn Resorts's dividend payout ratio is presently 30.03%.

Insiders Place Their Bets

In other Wynn Resorts news, Director Patricia Mulroy sold 4,438 shares of the business's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $125.00, for a total transaction of $554,750.00. Following the sale, the director owned 3,066 shares in the company, valued at approximately $383,250. The trade was a 59.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.52% of the company's stock.

Institutional Investors Weigh In On Wynn Resorts

A number of large investors have recently bought and sold shares of the company. Dagco Inc. purchased a new position in Wynn Resorts during the 1st quarter worth approximately $25,000. AlphaQuest LLC acquired a new stake in shares of Wynn Resorts in the first quarter worth $25,000. MUFG Securities EMEA plc purchased a new position in shares of Wynn Resorts during the second quarter worth $25,000. Global X Japan Co. Ltd. lifted its position in Wynn Resorts by 120.7% during the first quarter. Global X Japan Co. Ltd. now owns 320 shares of the casino operator's stock valued at $27,000 after purchasing an additional 175 shares during the period. Finally, Manchester Capital Management LLC lifted its position in Wynn Resorts by 1,500.0% during the second quarter. Manchester Capital Management LLC now owns 320 shares of the casino operator's stock valued at $30,000 after purchasing an additional 300 shares during the period. Hedge funds and other institutional investors own 88.64% of the company's stock.

About Wynn Resorts

Wynn Resorts, Limited designs, develops, and operates integrated resorts. The company operates through four segments: Wynn Palace, Wynn Macau, Las Vegas Operations, and Encore Boston Harbor. The Wynn Palace segment operates private gaming salons and sky casinos; a luxury hotel tower with suites, and villas, including a health club, spa, salon, and pool; food and beverage outlets; retail space; meeting and convention space; and performance lake and floral art displays.

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