Nomura Trims Wynn Resorts (WYNN) Target Price to $142.00

Wynn Resorts (NASDAQ:WYNN) had its price objective cut by Nomura from $146.00 to $142.00 in a research note issued to investors on Friday morning, BenzingaRatingsTable reports. They currently have a buy rating on the casino operator’s stock.

A number of other brokerages have also recently issued reports on WYNN. Telsey Advisory Group reiterated a market perform rating and set a $125.00 target price (up previously from $105.00) on shares of Wynn Resorts in a report on Thursday, January 31st. Zacks Investment Research upgraded Wynn Resorts from a strong sell rating to a buy rating and set a $123.00 target price for the company in a report on Saturday, January 12th. Roth Capital reiterated a buy rating and set a $135.00 target price (down previously from $140.00) on shares of Wynn Resorts in a report on Thursday, January 31st. ValuEngine cut Wynn Resorts from a hold rating to a sell rating in a report on Thursday, March 7th. Finally, Bank of America upgraded Wynn Resorts from a neutral rating to a buy rating and boosted their target price for the stock from $150.00 to $165.00 in a report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $152.00.

Shares of NASDAQ:WYNN opened at $121.87 on Friday. The company has a debt-to-equity ratio of 5.19, a current ratio of 1.40 and a quick ratio of 1.37. Wynn Resorts has a 1 year low of $90.06 and a 1 year high of $197.68. The stock has a market cap of $14.67 billion, a PE ratio of 18.63, a PEG ratio of 2.14 and a beta of 1.76.



Wynn Resorts (NASDAQ:WYNN) last issued its earnings results on Thursday, May 9th. The casino operator reported $1.61 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.59 by $0.02. Wynn Resorts had a return on equity of 36.82% and a net margin of 13.43%. The business had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter in the previous year, the business earned $2.30 EPS. The company’s revenue for the quarter was down 3.8% on a year-over-year basis. As a group, sell-side analysts forecast that Wynn Resorts will post 6.38 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Wednesday, May 22nd will be issued a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date is Tuesday, May 21st. This is a boost from Wynn Resorts’s previous quarterly dividend of $0.75. Wynn Resorts’s dividend payout ratio is currently 45.87%.

In other Wynn Resorts news, Director Patricia Mulroy sold 425 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $118.02, for a total value of $50,158.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.58% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WYNN. Egerton Capital UK LLP boosted its holdings in Wynn Resorts by 201.7% in the 1st quarter. Egerton Capital UK LLP now owns 2,303,387 shares of the casino operator’s stock worth $274,840,000 after acquiring an additional 1,539,927 shares during the period. Norges Bank acquired a new position in shares of Wynn Resorts in the 4th quarter valued at approximately $95,365,000. Pennsylvania Trust Co acquired a new position in shares of Wynn Resorts in the 1st quarter valued at approximately $30,201,000. Vanguard Group Inc raised its position in shares of Wynn Resorts by 4.6% in the 3rd quarter. Vanguard Group Inc now owns 9,850,529 shares of the casino operator’s stock valued at $1,251,608,000 after purchasing an additional 431,304 shares in the last quarter. Finally, SG Americas Securities LLC raised its position in shares of Wynn Resorts by 114.4% in the 1st quarter. SG Americas Securities LLC now owns 37,171 shares of the casino operator’s stock valued at $4,435,000 after purchasing an additional 295,863 shares in the last quarter. Hedge funds and other institutional investors own 75.19% of the company’s stock.

About Wynn Resorts

Wynn Resorts, Limited owns and operates destination casino resorts. As of February 20, 2019, the company's Wynn Palace segment had approximately 424,000 square feet of casino space, which offered 320 table games and 1,041 slot machines, private gaming salons, and sky casinos; a luxury hotel towers with 1,706 guest rooms, suites, and villas; 13 food and beverage outlets; 106,000 square feet of retail space; 37,000 square feet of meeting and convention space; recreation and leisure facilities comprising a gondola ride, health club, spa, salon, and pool; and public attractions, such as performance lake and floral art displays.

Further Reading: P/E Growth (PEG)

Analyst Recommendations for Wynn Resorts (NASDAQ:WYNN)

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