Wells Fargo & Company Cuts Wynn Resorts (NASDAQ:WYNN) Price Target to $122.00

Wynn Resorts (NASDAQ:WYNN) had its price target trimmed by Wells Fargo & Company from $125.00 to $122.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the casino operator’s stock.

Other research analysts have also issued research reports about the company. Susquehanna lifted their target price on Wynn Resorts from $92.00 to $122.00 and gave the stock a “positive” rating in a research report on Friday, October 11th. JPMorgan Chase & Co. lowered their target price on shares of Wynn Resorts from $110.00 to $101.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Morgan Stanley raised their price target on shares of Wynn Resorts from $112.00 to $115.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Jefferies Financial Group dropped their price objective on shares of Wynn Resorts from $111.00 to $96.00 and set a “hold” rating on the stock in a research note on Thursday, July 11th. Finally, Stifel Nicolaus cut their target price on shares of Wynn Resorts from $121.00 to $103.00 and set a “buy” rating on the stock in a report on Friday, September 13th. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $115.71.

Wynn Resorts Trading Up 2.2 %

Shares of NASDAQ:WYNN opened at $87.17 on Tuesday. Wynn Resorts has a 12-month low of $71.63 and a 12-month high of $110.38. The firm has a market cap of $9.67 billion, a PE ratio of 10.75, a price-to-earnings-growth ratio of 2.48 and a beta of 1.80. The company has a fifty day simple moving average of $90.81 and a 200 day simple moving average of $88.65.

Wynn Resorts (NASDAQ:WYNN) last issued its earnings results on Monday, November 4th. The casino operator reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). The company had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.73 billion. Wynn Resorts had a net margin of 13.37% and a negative return on equity of 62.44%. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.99 EPS. As a group, equities research analysts forecast that Wynn Resorts will post 5.42 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Friday, November 15th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a yield of 1.15%. Wynn Resorts’s dividend payout ratio (DPR) is presently 12.33%.

Insider Activity

In related news, Director Patricia Mulroy sold 2,650 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $78.73, for a total value of $208,634.50. Following the completion of the sale, the director now owns 5,689 shares of the company’s stock, valued at $447,894.97. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.52% of the company’s stock.

Institutional Trading of Wynn Resorts

A number of hedge funds and other institutional investors have recently made changes to their positions in WYNN. International Assets Investment Management LLC acquired a new position in shares of Wynn Resorts during the second quarter valued at approximately $25,000. Blue Trust Inc. increased its position in shares of Wynn Resorts by 556.0% during the 3rd quarter. Blue Trust Inc. now owns 551 shares of the casino operator’s stock valued at $49,000 after purchasing an additional 467 shares during the period. Versant Capital Management Inc bought a new stake in shares of Wynn Resorts in the 2nd quarter worth $51,000. Covestor Ltd lifted its holdings in shares of Wynn Resorts by 421.7% in the first quarter. Covestor Ltd now owns 626 shares of the casino operator’s stock valued at $64,000 after buying an additional 506 shares during the period. Finally, GAMMA Investing LLC boosted its stake in Wynn Resorts by 25.1% during the second quarter. GAMMA Investing LLC now owns 828 shares of the casino operator’s stock valued at $74,000 after buying an additional 166 shares in the last quarter. 68.87% 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.