Wynn Resorts (WYNN) Cut to Sell at ValuEngine

ValuEngine downgraded shares of Wynn Resorts (NASDAQ:WYNN) from a hold rating to a sell rating in a research report report published on Monday, ValuEngine reports.

A number of other analysts have also weighed in on the stock. Nomura reduced their price target on shares of Wynn Resorts from $146.00 to $142.00 and set a buy rating for the company in a research note on Friday, May 10th. Stifel Nicolaus upped their price target on shares of Wynn Resorts from $146.00 to $157.00 and gave the stock a buy rating in a research note on Friday, May 10th. Morgan Stanley upped their price target on shares of Wynn Resorts from $130.00 to $135.00 and gave the stock an equal weight rating in a research note on Friday, May 10th. Telsey Advisory Group reaffirmed a market perform rating and issued a $120.00 price target (down from $125.00) on shares of Wynn Resorts in a research note on Friday, May 10th. Finally, BidaskClub lowered shares of Wynn Resorts from a strong-buy rating to a buy rating in a research note on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the company’s stock. Wynn Resorts has an average rating of Buy and a consensus target price of $152.00.

Shares of NASDAQ:WYNN opened at $127.31 on Monday. The company has a market capitalization of $13.48 billion, a PE ratio of 19.47, a P/E/G ratio of 2.01 and a beta of 1.76. Wynn Resorts has a twelve month low of $90.06 and a twelve month high of $197.68. The company has a quick ratio of 1.16, a current ratio of 1.19 and a debt-to-equity ratio of 4.84.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings results on Thursday, May 9th. The casino operator reported $1.61 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.02. The company had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.66 billion. Wynn Resorts had a net margin of 13.43% and a return on equity of 35.83%. The business’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same period in the prior year, the business posted $2.30 EPS. Equities analysts forecast that Wynn Resorts will post 6.24 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Wednesday, May 22nd will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 3.14%. The ex-dividend date of this dividend is Tuesday, May 21st. This is a positive change 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 shares were sold at an average price of $118.02, for a total value of $50,158.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.58% of the stock is currently owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. acquired a new position in shares of Wynn Resorts during the 1st quarter worth $25,000. Parallel Advisors LLC increased its stake in shares of Wynn Resorts by 84.2% during the 4th quarter. Parallel Advisors LLC now owns 256 shares of the casino operator’s stock worth $25,000 after purchasing an additional 117 shares during the last quarter. JOYN Advisors Inc. increased its stake in shares of Wynn Resorts by 1,680.0% during the 4th quarter. JOYN Advisors Inc. now owns 267 shares of the casino operator’s stock worth $26,000 after purchasing an additional 252 shares during the last quarter. Optimum Investment Advisors acquired a new position in shares of Wynn Resorts during the 1st quarter worth $36,000. Finally, Zions Bancorporation N.A. acquired a new position in shares of Wynn Resorts during the 1st quarter worth $41,000. Hedge funds and other institutional investors own 75.22% 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.

Featured Article: Asset Allocation, Balancing Your Investments

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Wynn Resorts (NASDAQ:WYNN)

Receive News & Ratings for Wynn Resorts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wynn Resorts and related companies with MarketBeat.com's FREE daily email newsletter.