BidaskClub Lowers Wynn Resorts (NASDAQ:WYNN) to Sell

BidaskClub lowered shares of Wynn Resorts (NASDAQ:WYNN) from a hold rating to a sell rating in a report published on Saturday morning, BidAskClub reports.

Several other research firms have also weighed in on WYNN. Citigroup set a $141.00 price objective on Wynn Resorts and gave the company a buy rating in a research note on Thursday, September 12th. Standpoint Research began coverage on Wynn Resorts in a research note on Wednesday, September 4th. They issued a buy rating on the stock. ValuEngine lowered Wynn Resorts from a hold rating to a sell rating in a research note on Wednesday, September 4th. UBS Group lowered their price objective on Wynn Resorts from $119.00 to $114.00 and set a neutral rating on the stock in a research note on Wednesday, August 21st. Finally, Nomura lowered their price objective on Wynn Resorts from $142.00 to $126.00 and set a buy rating on the stock in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $136.25.

Wynn Resorts stock opened at $108.11 on Friday. Wynn Resorts has a 12 month low of $90.06 and a 12 month high of $151.50. The stock has a market cap of $11.63 billion, a price-to-earnings ratio of 16.53, a price-to-earnings-growth ratio of 1.88 and a beta of 2.05. The business has a 50 day moving average price of $110.22 and a two-hundred day moving average price of $123.37. The company has a quick ratio of 0.95, a current ratio of 1.00 and a debt-to-equity ratio of 5.00.



Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings data on Tuesday, August 6th. The casino operator reported $1.44 earnings per share for the quarter, meeting the consensus estimate of $1.44. Wynn Resorts had a return on equity of 34.98% and a net margin of 12.41%. The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same period in the prior year, the company posted $1.53 EPS. The company’s revenue was up 3.3% compared to the same quarter last year. On average, analysts expect that Wynn Resorts will post 5.92 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Friday, August 16th were given a dividend of $1.00 per share. The ex-dividend date was Thursday, August 15th. This represents a $4.00 dividend on an annualized basis and a yield of 3.70%. Wynn Resorts’s dividend payout ratio (DPR) is presently 61.16%.

In related news, CEO Matt Maddox sold 25,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $117.30, for a total transaction of $2,932,500.00. Following the sale, the chief executive officer now directly owns 459,185 shares in the company, valued at approximately $53,862,400.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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 the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in Wynn Resorts by 3.1% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 21,325 shares of the casino operator’s stock worth $2,644,000 after acquiring an additional 637 shares during the last quarter. Boston Partners bought a new stake in Wynn Resorts during the 2nd quarter worth approximately $1,501,000. Kayne Anderson Rudnick Investment Management LLC grew its position in Wynn Resorts by 42.5% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 72,181 shares of the casino operator’s stock worth $8,950,000 after acquiring an additional 21,521 shares during the last quarter. HM Payson & Co. bought a new stake in Wynn Resorts during the 2nd quarter worth approximately $81,000. Finally, Eaton Vance Management bought a new stake in Wynn Resorts during the 2nd quarter worth approximately $12,809,000. Institutional investors and hedge funds own 75.76% 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.

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Analyst Recommendations for Wynn Resorts (NASDAQ:WYNN)

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