Citigroup Reaffirms Neutral Rating for Wynn Resorts (NASDAQ:WYNN)

Citigroup reissued their neutral rating on shares of Wynn Resorts (NASDAQ:WYNN - Free Report) in a research note published on Wednesday morning, MarketBeat reports. They currently have a $114.00 target price on the casino operator's stock, up from their previous target price of $108.00.

WYNN has been the topic of several other research reports. Barclays cut their target price on Wynn Resorts from $116.00 to $99.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. The Goldman Sachs Group initiated coverage on Wynn Resorts in a research report on Monday, July 7th. They set a "buy" rating and a $122.00 target price on the stock. Argus cut Wynn Resorts from a "buy" rating to a "hold" rating in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. assumed coverage on Wynn Resorts in a research report on Monday, June 23rd. They set an "overweight" rating and a $109.00 target price on the stock. Finally, Wall Street Zen cut Wynn Resorts from a "buy" rating to a "hold" rating in a research report on Wednesday, March 12th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $112.71.

Wynn Resorts Stock Performance

Shares of NASDAQ WYNN traded down $0.76 during midday trading on Wednesday, hitting $111.17. 1,207,241 shares of the stock traded hands, compared to its average volume of 2,603,787. The company has a market cap of $11.62 billion, a PE ratio of 30.88, a P/E/G ratio of 3.22 and a beta of 1.37. Wynn Resorts has a one year low of $65.25 and a one year high of $112.36. The business has a 50 day moving average price of $92.94 and a two-hundred day moving average price of $86.34.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The casino operator reported $1.07 EPS for the quarter, missing the consensus estimate of $1.24 by ($0.17). The firm had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.74 billion. Wynn Resorts had a net margin of 6.17% and a negative return on equity of 62.13%. The company's revenue was down 8.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.59 EPS. As a group, equities research analysts forecast that Wynn Resorts will post 5.17 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were paid a $0.25 dividend. The ex-dividend date was Friday, May 16th. This represents a $1.00 annualized dividend and a dividend yield of 0.90%. Wynn Resorts's payout ratio is presently 27.78%.

Insider Activity

In related news, Director Patricia Mulroy sold 2,262 shares of the business's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $92.12, for a total transaction of $208,375.44. Following the sale, the director directly owned 3,066 shares in the company, valued at approximately $282,439.92. The trade was a 42.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.52% of the stock is currently owned by insiders.

Institutional Trading of Wynn Resorts

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BOKF NA raised its stake in shares of Wynn Resorts by 3.9% during the 4th quarter. BOKF NA now owns 3,557 shares of the casino operator's stock valued at $289,000 after purchasing an additional 132 shares during the period. Teachers Retirement System of The State of Kentucky raised its stake in shares of Wynn Resorts by 1.9% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 7,057 shares of the casino operator's stock valued at $589,000 after purchasing an additional 132 shares during the period. Snowden Capital Advisors LLC raised its stake in shares of Wynn Resorts by 5.6% during the 4th quarter. Snowden Capital Advisors LLC now owns 2,589 shares of the casino operator's stock valued at $223,000 after purchasing an additional 138 shares during the period. Nomura Asset Management Co. Ltd. raised its stake in shares of Wynn Resorts by 0.5% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 31,119 shares of the casino operator's stock valued at $2,681,000 after purchasing an additional 142 shares during the period. Finally, Navalign LLC raised its stake in shares of Wynn Resorts by 1.8% during the 1st quarter. Navalign LLC now owns 8,252 shares of the casino operator's stock valued at $689,000 after purchasing an additional 144 shares during the period. 88.64% of the stock is currently owned by institutional investors.

Wynn Resorts Company Profile

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.