Citigroup restated their neutral rating on shares of Wynn Resorts (NASDAQ:WYNN - Free Report) in a report released on Wednesday morning, MarketBeat reports. Citigroup currently has a $114.00 target price on the casino operator's stock, up from their previous target price of $108.00.
Other analysts have also recently issued research reports about the company. Barclays reduced their price target on Wynn Resorts from $116.00 to $99.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Stifel Nicolaus set a $113.00 price target on Wynn Resorts in a research report on Wednesday, May 7th. Mizuho decreased their price objective on shares of Wynn Resorts from $132.00 to $122.00 and set an "outperform" rating for the company in a report on Thursday, May 8th. UBS Group reaffirmed a "neutral" rating and set a $101.00 price objective (up from $83.00) on shares of Wynn Resorts in a report on Tuesday. Finally, JPMorgan Chase & Co. started coverage on shares of Wynn Resorts in a report on Monday, June 23rd. They set an "overweight" rating and a $109.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $112.71.
Get Our Latest Research Report on Wynn Resorts
Wynn Resorts Trading Up 1.7%
NASDAQ:WYNN traded up $1.85 on Wednesday, hitting $111.93. 2,031,121 shares of the company's stock traded hands, compared to its average volume of 2,602,453. Wynn Resorts has a 1 year low of $65.25 and a 1 year high of $112.34. The firm has a 50-day moving average price of $92.37 and a 200-day moving average price of $86.20. The company has a market cap of $11.70 billion, a PE ratio of 31.09, a price-to-earnings-growth ratio of 3.18 and a beta of 1.37.
Wynn Resorts (NASDAQ:WYNN - Get Free Report) last released its earnings results on Tuesday, May 6th. The casino operator reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.24 by ($0.17). Wynn Resorts had a net margin of 6.17% and a negative return on equity of 62.13%. The business had revenue of $1.70 billion for the quarter, compared to analysts' expectations of $1.74 billion. During the same period last year, the firm earned $1.59 EPS. The company's revenue was down 8.7% compared to the same quarter last year. On average, research analysts forecast that Wynn Resorts will post 5.17 EPS for the current fiscal year.
Wynn Resorts Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend was Friday, May 16th. Wynn Resorts's dividend payout ratio is 27.78%.
Insider Buying and Selling
In other news, Director Patricia Mulroy sold 2,262 shares of the business's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $92.12, for a total value of $208,375.44. Following the sale, the director owned 3,066 shares in the company, valued at approximately $282,439.92. The trade was a 42.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.52% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Wynn Resorts
Several institutional investors and hedge funds have recently made changes to their positions in WYNN. AlphaQuest LLC bought a new stake in Wynn Resorts during the 1st quarter worth approximately $25,000. Dagco Inc. bought a new stake in Wynn Resorts during the 1st quarter worth approximately $25,000. Global X Japan Co. Ltd. increased its position in Wynn Resorts by 120.7% in the 1st quarter. Global X Japan Co. Ltd. now owns 320 shares of the casino operator's stock valued at $27,000 after acquiring an additional 175 shares in the last quarter. Geneos Wealth Management Inc. increased its position in 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 acquiring an additional 156 shares in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in Wynn Resorts in the 4th quarter valued at about $36,000. Institutional investors and hedge funds own 88.64% of the company's stock.
About Wynn Resorts
(
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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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