StockNews.com Lowers Wynn Resorts (NASDAQ:WYNN) to Hold

Wynn Resorts (NASDAQ:WYNN) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

A number of other research analysts have also recently weighed in on WYNN. JPMorgan Chase & Co. dropped their target price on shares of Wynn Resorts from $110.00 to $101.00 and set an “overweight” rating on the stock in a research note on Wednesday. Seaport Res Ptn upgraded shares of Wynn Resorts from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 30th. Jefferies Financial Group dropped their target price 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. Citigroup boosted their price target on shares of Wynn Resorts from $132.00 to $138.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Wynn Resorts from $131.00 to $122.00 and set a “buy” rating on the stock in a research report on Wednesday. Five investment 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 stock presently has a consensus rating of “Moderate Buy” and an average target price of $116.73.

Wynn Resorts Stock Down 1.9 %

Wynn Resorts stock traded down $1.44 during midday trading on Wednesday, hitting $74.85. 5,079,424 shares of the stock were exchanged, compared to its average volume of 1,895,232. Wynn Resorts has a 52-week low of $71.63 and a 52-week high of $110.38. The stock has a market capitalization of $8.39 billion, a price-to-earnings ratio of 10.25 and a beta of 1.82. The business’s 50-day moving average price is $86.40 and its 200-day moving average price is $95.01.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings results on Tuesday, August 6th. The casino operator reported $1.12 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.02). The firm had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.74 billion. Wynn Resorts had a negative return on equity of 46.04% and a net margin of 12.36%. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.91 earnings per share. On average, sell-side analysts predict that Wynn Resorts will post 5.62 earnings per share for the current fiscal year.

Insider Transactions at Wynn Resorts

In other news, Director Betsy S. Atkins sold 2,446 shares of the stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $94.39, for a total value of $230,877.94. Following the transaction, the director now owns 9,226 shares of the company’s stock, valued at approximately $870,842.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.52% of the company’s stock.

Institutional Investors Weigh In On Wynn Resorts

A number of institutional investors have recently made changes to their positions in WYNN. Arizona State Retirement System boosted its stake in shares of Wynn Resorts by 0.9% in the 4th quarter. Arizona State Retirement System now owns 28,182 shares of the casino operator’s stock valued at $2,568,000 after purchasing an additional 241 shares in the last quarter. International Assets Investment Management LLC boosted its position in Wynn Resorts by 4,067.4% during the 4th quarter. International Assets Investment Management LLC now owns 7,668 shares of the casino operator’s stock valued at $699,000 after buying an additional 7,484 shares during the period. Nisa Investment Advisors LLC boosted its position in Wynn Resorts by 0.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 27,904 shares of the casino operator’s stock valued at $2,542,000 after buying an additional 109 shares during the period. Cerity Partners LLC boosted its position in Wynn Resorts by 996.0% during the 4th quarter. Cerity Partners LLC now owns 27,445 shares of the casino operator’s stock valued at $2,500,000 after buying an additional 24,941 shares during the period. Finally, Friedenthal Financial purchased a new stake in Wynn Resorts during the 4th quarter valued at $46,000. Hedge funds and other institutional investors own 68.87% of the company’s stock.

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.