Wynn Resorts (NASDAQ:WYNN) Price Target Cut to $118.00 by Analysts at Deutsche Bank Aktiengesellschaft

Wynn Resorts (NASDAQ:WYNN) had its target price decreased by Deutsche Bank Aktiengesellschaft from $122.00 to $118.00 in a research note published on Tuesday,Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the casino operator’s stock.

A number of other research analysts also recently commented on WYNN. Jefferies Financial Group lowered their target price on Wynn Resorts from $111.00 to $96.00 and set a “hold” rating on the stock in a research note on Thursday, July 11th. Wells Fargo & Company lifted their target price on shares of Wynn Resorts from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Susquehanna increased their price objective on Wynn Resorts from $92.00 to $122.00 and gave the company a “positive” rating in a research report on Friday, October 11th. Stifel Nicolaus decreased their target price on Wynn Resorts from $121.00 to $103.00 and set a “buy” rating on the stock in a research report on Friday, September 13th. Finally, Morgan Stanley lifted their price target on shares of Wynn Resorts from $112.00 to $115.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $115.71.

Wynn Resorts Price Performance

Shares of NASDAQ WYNN opened at $84.30 on Tuesday. Wynn Resorts has a 1-year low of $71.63 and a 1-year high of $110.38. The business’s fifty day moving average price is $90.96 and its two-hundred day moving average price is $88.56. The firm has a market capitalization of $9.26 billion, a PE ratio of 10.39, a P/E/G ratio of 2.35 and a beta of 1.80.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings results on Monday, November 4th. The casino operator reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). The company had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.73 billion. Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. The company’s revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.99 earnings per share. Equities research analysts expect that Wynn Resorts will post 5.1 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date is Friday, November 15th. Wynn Resorts’s payout ratio is 12.33%.

Insider Transactions at Wynn Resorts

In related news, Director Patricia Mulroy sold 2,650 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $78.73, for a total value of $208,634.50. Following the transaction, the director now directly owns 5,689 shares in the company, valued at $447,894.97. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.52% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Wynn Resorts

Institutional investors have recently modified their holdings of the business. International Assets Investment Management LLC purchased a new stake in Wynn Resorts in the second quarter worth $25,000. Blue Trust Inc. grew its holdings in shares of Wynn Resorts by 556.0% in the third quarter. Blue Trust Inc. now owns 551 shares of the casino operator’s stock worth $49,000 after purchasing an additional 467 shares during the last quarter. Versant Capital Management Inc bought a new position in Wynn Resorts during the 2nd quarter valued at approximately $51,000. Covestor Ltd boosted its stake in shares of Wynn Resorts by 421.7% during the 1st quarter. Covestor Ltd now owns 626 shares of the casino operator’s stock valued at $64,000 after purchasing an additional 506 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Wynn Resorts by 25.1% during the 2nd quarter. GAMMA Investing LLC now owns 828 shares of the casino operator’s stock valued at $74,000 after buying an additional 166 shares in the last quarter. 68.87% of the stock is owned by institutional investors.

About Wynn Resorts

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.