Wells Fargo & Company Cuts Wynn Resorts (NASDAQ:WYNN) Price Target to $131.00

Wynn Resorts (NASDAQ:WYNN) had its price objective lowered by Wells Fargo & Company from $141.00 to $131.00 in a report published on Wednesday,Benzinga reports. The firm currently has an overweight rating on the casino operator’s stock.

A number of other brokerages have also recently issued reports on WYNN. JPMorgan Chase & Co. reduced their target price on Wynn Resorts from $135.00 to $134.00 and set an “overweight” rating on the stock in a report on Wednesday, July 15th. Mizuho cut their price target on shares of Wynn Resorts from $133.00 to $125.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 28th. Stifel Nicolaus decreased their price objective on shares of Wynn Resorts from $150.00 to $140.00 and set a “buy” rating for the company in a report on Thursday, July 16th. Truist Financial assumed coverage on shares of Wynn Resorts in a research note on Wednesday, July 8th. They issued a “buy” rating and a $125.00 target price for the company. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $128.00 target price on shares of Wynn Resorts in a report on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $134.19.

Wynn Resorts Stock Up 1.0%

Wynn Resorts stock opened at $102.54 on Wednesday. The stock has a market capitalization of $10.64 billion, a price-to-earnings ratio of 25.44, a P/E/G ratio of 0.99 and a beta of 1.01. Wynn Resorts has a 12-month low of $92.52 and a 12-month high of $134.72. The stock has a 50-day simple moving average of $100.53 and a 200 day simple moving average of $103.74.

Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Tuesday, August 4th. The casino operator reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.25. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.83 billion. Wynn Resorts had a net margin of 6.05% and a negative return on equity of 45.05%. The company’s revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.09 earnings per share. As a group, sell-side analysts anticipate that Wynn Resorts will post 4.54 EPS for the current year.

Wynn Resorts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be paid a $0.25 dividend. The ex-dividend date is Friday, August 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.0%. Wynn Resorts’s dividend payout ratio (DPR) is currently 24.81%.

Institutional Investors Weigh In On Wynn Resorts

A number of large investors have recently added to or reduced their stakes in WYNN. BlackRock Inc. acquired a new stake in shares of Wynn Resorts during the 2nd quarter worth about $609,566,000. Deutsche Bank AG bought a new stake in Wynn Resorts in the 2nd quarter valued at $26,599,000. Capital Financial Group Inc. Co. ADV acquired a new position in Wynn Resorts in the 2nd quarter valued at $496,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Wynn Resorts in the 2nd quarter valued at $10,463,000. Finally, Persistent Asset Partners Ltd bought a new position in Wynn Resorts during the 2nd quarter worth $278,000. Institutional investors own 88.64% of the company’s stock.

Key Wynn Resorts News

Here are the key news stories impacting Wynn Resorts this week:

• Positive Sentiment: Q2 earnings beat expectations. Wynn reported $1.24 in adjusted earnings per share versus the $0.99 consensus estimate, while revenue rose 6.9% year over year to $1.86 billion, ahead of the $1.83 billion forecast. Results benefited from broad-based demand in Las Vegas, Boston and Macau, particularly at Wynn Palace. Wynn Resorts Second-Quarter Revenue Rises on Demand from Wealthy Customers
• Positive Sentiment: Capital returns are supporting the investment case. The company declared a $0.25-per-share dividend and completed its long-running $2.74 billion share-repurchase program. Investors viewed the combination of higher profitability, dividends and buybacks favorably. How Strong Q2 Results And Capital Returns at Wynn Resorts Have Changed Its Investment Story
• Positive Sentiment: Analysts see potential upside. Argus raised its price target from $115 to $130 and reiterated a Buy rating. Another analysis estimated that WYNN could be roughly 25% undervalued following the earnings beat and buyback update. Analysts Offer Insights on Wynn Resorts and MercadoLibre
• Neutral Sentiment: Macau remains strong but faces execution risks. Analysts highlighted robust Wynn Palace demand, although a new hotel could create table-management challenges if bettor demand rises faster than available capacity. Bettor Demand Could Create Table-Management Challenges at Wynn Palace
• Negative Sentiment: Wynn Al Marjan Island remains a concern. The UAE project is progressing but has been delayed and is experiencing cost increases, creating uncertainty around timing, capital spending and returns. Wynn Q2 Deep Dive
• Negative Sentiment: Some analysts remain cautious. Wells Fargo issued a pessimistic price forecast, while Wynn Macau disclosed accounting differences related to Wynn Resorts’ unaudited filing. The disclosures may temper enthusiasm despite the earnings beat.

Wynn Resorts Company Profile

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.