Wynn Resorts (NASDAQ:WYNN) Hits New 12-Month Low – Here’s Why

Shares of Wynn Resorts, Limited (NASDAQ:WYNN) reached a new 52-week low on Monday . The stock traded as low as $92.25 and last traded at $92.4620, with a volume of 193994 shares trading hands. The stock had previously closed at $95.26.

Wall Street Analyst Weigh In

Several analysts have commented on the company. JPMorgan Chase & Co. reduced their price objective on Wynn Resorts from $135.00 to $134.00 and set an “overweight” rating for the company in a research note on Wednesday, July 15th. Mizuho dropped their target price on Wynn Resorts from $133.00 to $125.00 and set an “outperform” rating on the stock in a report on Tuesday, July 28th. Argus upped their price target on Wynn Resorts from $115.00 to $130.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Stifel Nicolaus set a $143.00 price target on Wynn Resorts in a report on Wednesday, August 5th. Finally, Zacks Research upgraded shares of Wynn Resorts from a “strong sell” rating to a “hold” rating in a research report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $134.19.

Wynn Resorts Price Performance

The company has a market capitalization of $9.50 billion, a price-to-earnings ratio of 22.90, a price-to-earnings-growth ratio of 0.83 and a beta of 1.01. The firm’s 50-day simple moving average is $99.00 and its two-hundred day simple moving average is $102.33.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Tuesday, August 4th. The casino operator reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.25. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.83 billion. Wynn Resorts had a negative return on equity of 46.52% and a net margin of 6.05%.The business’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter last year, the business posted $1.09 earnings per share. On average, analysts expect that Wynn Resorts, Limited will post 4.65 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were given a dividend of $0.25 per share. The ex-dividend date was Friday, August 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.1%. Wynn Resorts’s payout ratio is presently 24.81%.

Institutional Trading of Wynn Resorts

Several large investors have recently modified their holdings of WYNN. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Wynn Resorts during the second quarter worth $495,000. California State Teachers Retirement System lifted its holdings in Wynn Resorts by 9,349.7% in the 2nd quarter. California State Teachers Retirement System now owns 9,093,255 shares of the casino operator’s stock valued at $882,864,000 after purchasing an additional 8,997,027 shares in the last quarter. Wedmont Private Capital boosted its stake in shares of Wynn Resorts by 5.7% during the 2nd quarter. Wedmont Private Capital now owns 2,845 shares of the casino operator’s stock worth $284,000 after purchasing an additional 154 shares during the last quarter. Operose Advisors LLC boosted its stake in shares of Wynn Resorts by 400.0% during the 2nd quarter. Operose Advisors LLC now owns 500 shares of the casino operator’s stock worth $49,000 after purchasing an additional 400 shares during the last quarter. Finally, TD Waterhouse Canada Inc. grew its holdings in shares of Wynn Resorts by 6,780.4% during the second quarter. TD Waterhouse Canada Inc. now owns 18,646 shares of the casino operator’s stock worth $1,792,000 after buying an additional 18,375 shares in the last quarter. 88.64% of the stock is currently owned by institutional investors and hedge funds.

About Wynn Resorts

Wynn Resorts, Limited (NASDAQ: WYNN) is a global developer and operator of luxury resorts and casinos, renowned for its premium hospitality offerings and integrated entertainment experiences. The company specializes in high-end hotel accommodations, gaming operations, fine dining restaurants, retail outlets, meeting and convention spaces, and live entertainment venues. Its properties are designed to cater to both leisure and business travelers seeking upscale environments and world-class service.

Founded in 2002 by hospitality entrepreneur Steve Wynn, the company opened its flagship property, Wynn Las Vegas, on the Las Vegas Strip in 2005, followed by Encore Las Vegas in 2008.