Wynn Resorts (NASDAQ:WYNN) Downgraded to Hold Rating by StockNews.com

StockNews.com cut shares of Wynn Resorts (NASDAQ:WYNN) from a buy rating to a hold rating in a research report released on Wednesday morning.

Several other research analysts have also recently issued reports on the stock. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Wynn Resorts from $122.00 to $118.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. JPMorgan Chase & Co. upped their target price on shares of Wynn Resorts from $101.00 to $113.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Barclays upped their target price on shares of Wynn Resorts from $115.00 to $116.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Morgan Stanley lowered their target price on shares of Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating for the company in a report on Monday. Finally, Macquarie restated an “outperform” rating and issued a $115.00 target price on shares of Wynn Resorts in a report on Friday, February 14th. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Wynn Resorts currently has an average rating of “Moderate Buy” and a consensus price target of $119.58.

Wynn Resorts Trading Up 0.1 %

Shares of NASDAQ:WYNN opened at $91.10 on Wednesday. Wynn Resorts has a 52 week low of $71.63 and a 52 week high of $110.38. The company’s 50 day moving average is $85.35 and its two-hundred day moving average is $87.66. The company has a market cap of $9.69 billion, a PE ratio of 21.64, a P/E/G ratio of 2.35 and a beta of 1.76.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Thursday, February 13th. The casino operator reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $1.15. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. The company had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.78 billion. As a group, equities research analysts expect that Wynn Resorts will post 5.17 EPS for the current year.

Wynn Resorts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend is Monday, February 24th. Wynn Resorts’s dividend payout ratio (DPR) is presently 23.75%.

Insider Transactions at Wynn Resorts

In other news, Director Philip G. Satre bought 22,200 shares of Wynn Resorts stock in a transaction dated Tuesday, February 18th. The stock was bought at an average price of $92.18 per share, for a total transaction of $2,046,396.00. Following the purchase, the director now owns 34,195 shares of the company’s stock, valued at approximately $3,152,095.10. The trade was a 185.08 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.52% of the company’s stock.

Institutional Trading of Wynn Resorts

Hedge funds have recently made changes to their positions in the company. New Wave Wealth Advisors LLC acquired a new stake in shares of Wynn Resorts in the 4th quarter worth $26,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Wynn Resorts in the 3rd quarter valued at about $31,000. SBI Securities Co. Ltd. purchased a new position in shares of Wynn Resorts in the 4th quarter valued at about $36,000. Spire Wealth Management increased its holdings in shares of Wynn Resorts by 116.4% in the 4th quarter. Spire Wealth Management now owns 435 shares of the casino operator’s stock valued at $37,000 after purchasing an additional 234 shares in the last quarter. Finally, Canada Post Corp Registered Pension Plan purchased a new position in shares of Wynn Resorts in the 4th quarter valued at about $45,000. Institutional investors and hedge funds own 88.64% 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.