ValuEngine upgraded shares of Wynn Resorts (NASDAQ:WYNN) from a hold rating to a buy rating in a research report released on Wednesday, May 2nd.
Other analysts have also recently issued research reports about the stock. Roth Capital reaffirmed a neutral rating and issued a $170.00 price objective on shares of Wynn Resorts in a report on Wednesday, February 7th. JPMorgan Chase raised shares of Wynn Resorts from a neutral rating to an overweight rating in a report on Wednesday, February 7th. BidaskClub cut shares of Wynn Resorts from a buy rating to a hold rating in a report on Wednesday, February 14th. Vetr lowered shares of Wynn Resorts from a strong-buy rating to a buy rating and set a $195.00 price objective for the company. in a research report on Tuesday, April 10th. Finally, Nomura upgraded shares of Wynn Resorts from a neutral rating to a buy rating and raised their price objective for the company from $175.00 to $211.00 in a research report on Wednesday, February 7th. Eight analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $199.94.
Shares of Wynn Resorts opened at $189.98 on Wednesday, Marketbeat reports. Wynn Resorts has a twelve month low of $189.45 and a twelve month high of $191.93. The company has a quick ratio of 1.13, a current ratio of 1.17 and a debt-to-equity ratio of 11.97. The firm has a market capitalization of $20.73 billion, a PE ratio of 34.79 and a beta of 1.39.
Wynn Resorts (NASDAQ:WYNN) last issued its earnings results on Tuesday, April 24th. The casino operator reported $2.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.98 by $0.32. The company had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.75 billion. Wynn Resorts had a net margin of 6.75% and a return on equity of 101.01%. The firm’s revenue was up 20.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.24 earnings per share. research analysts predict that Wynn Resorts will post 8.62 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 29th. Shareholders of record on Thursday, May 17th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.58%. This is a boost from Wynn Resorts’s previous quarterly dividend of $0.50. The ex-dividend date is Wednesday, May 16th. Wynn Resorts’s dividend payout ratio (DPR) is presently 54.95%.
In related news, major shareholder Stephen A. Wynn sold 4,104,999 shares of the firm’s stock in a transaction that occurred on Wednesday, March 21st. The shares were sold at an average price of $180.00, for a total transaction of $738,899,820.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Matt Maddox sold 18,450 shares of the firm’s stock in a transaction that occurred on Tuesday, May 1st. The stock was sold at an average price of $191.09, for a total transaction of $3,525,610.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,133,449 shares of company stock valued at $744,342,731. Corporate insiders own 0.95% of the company’s stock.
Several hedge funds have recently bought and sold shares of WYNN. Silvant Capital Management LLC acquired a new stake in shares of Wynn Resorts during the first quarter worth approximately $104,000. Synovus Financial Corp bought a new position in Wynn Resorts during the first quarter valued at approximately $147,000. Mckinley Capital Management LLC Delaware bought a new position in Wynn Resorts during the fourth quarter valued at approximately $171,000. Calton & Associates Inc. bought a new position in Wynn Resorts during the fourth quarter valued at approximately $178,000. Finally, Smithfield Trust Co. raised its position in Wynn Resorts by 1,818.2% during the first quarter. Smithfield Trust Co. now owns 1,055 shares of the casino operator’s stock valued at $193,000 after acquiring an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 65.63% of the company’s stock.
About Wynn Resorts
Wynn Resorts, Limited develops, owns, and operates destination casino resorts. As of February 15, 2018, the company's Wynn Macau segment had approximately 273,000 square feet of casino space, which offered 316 table games and 988 slot machines, private gaming salons, sky casinos, and a poker pit; 2 luxury hotel towers with a total of 1,008 guest rooms and suites; 8 food and beverage outlets; 59,000 square feet of retail space; 31,000 square feet of meeting and convention space; recreation and leisure facilities comprising 2 health clubs, spas, a salon, and a pool; and a rotunda show, a Chinese zodiac-inspired ceiling.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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