Deutsche Bank Aktiengesellschaft Lowers Wynn Resorts (NASDAQ:WYNN) Price Target to $122.00

Wynn Resorts (NASDAQ:WYNN) had its price objective reduced by Deutsche Bank Aktiengesellschaft from $131.00 to $122.00 in a research report report published on Wednesday morning, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the casino operator’s stock.

Several other research firms also recently weighed in on WYNN. Seaport Res Ptn upgraded Wynn Resorts from a hold rating to a strong-buy rating in a report on Thursday, May 30th. Macquarie restated an outperform rating and issued a $126.00 price objective on shares of Wynn Resorts in a report on Wednesday. Wells Fargo & Company decreased their price objective on Wynn Resorts from $126.00 to $115.00 and set an overweight rating for the company in a report on Wednesday. Argus upgraded Wynn Resorts from a hold rating to a buy rating and set a $110.00 price objective for the company in a report on Thursday, May 23rd. Finally, Morgan Stanley reduced their target price on shares of Wynn Resorts from $115.00 to $107.00 and set an equal weight rating for the company in a report on Friday, July 12th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Wynn Resorts presently has an average rating of Moderate Buy and an average price target of $116.73.

Wynn Resorts Trading Down 2.6 %

NASDAQ:WYNN opened at $74.63 on Wednesday. Wynn Resorts has a twelve month low of $71.63 and a twelve month high of $110.38. The company has a market cap of $8.36 billion, a price-to-earnings ratio of 10.22 and a beta of 1.82. The stock has a fifty day simple moving average of $85.68 and a 200-day simple moving average of $94.78.

Wynn Resorts (NASDAQ:WYNN) last released its 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 business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.74 billion. Wynn Resorts had a negative return on equity of 50.07% and a net margin of 12.22%. 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 business posted $0.91 earnings per share. As a group, equities research analysts predict that Wynn Resorts will post 5.62 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Monday, August 19th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, August 19th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.34%. Wynn Resorts’s payout ratio is 13.70%.

Insider Transactions at Wynn Resorts

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

Institutional Investors Weigh In On Wynn Resorts

Large investors have recently bought and sold shares of the company. International Assets Investment Management LLC purchased a new stake in Wynn Resorts in the second quarter valued at approximately $25,000. ICA Group Wealth Management LLC purchased a new stake in Wynn Resorts in the fourth quarter valued at approximately $27,000. Register Financial Advisors LLC purchased a new stake in Wynn Resorts in the first quarter valued at approximately $37,000. GAMMA Investing LLC purchased a new stake in Wynn Resorts in the fourth quarter valued at approximately $38,000. Finally, Federated Hermes Inc. boosted its position in Wynn Resorts by 47.5% in the fourth quarter. Federated Hermes Inc. now owns 435 shares of the casino operator’s stock valued at $40,000 after buying an additional 140 shares during the last quarter. 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.