Wynn Resorts (NASDAQ:WYNN) PT Lowered to $122.00 at Deutsche Bank Aktiengesellschaft

Wynn Resorts (NASDAQ:WYNN) had its price target decreased by Deutsche Bank Aktiengesellschaft from $131.00 to $122.00 in a research report sent to investors on Wednesday, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the casino operator’s stock.

Several other equities research analysts have also recently issued reports on the stock. Citigroup raised their target price on shares of Wynn Resorts from $132.00 to $138.00 and gave the stock a buy rating in a report on Wednesday, May 8th. Wells Fargo & Company dropped their price target on shares of Wynn Resorts from $126.00 to $115.00 and set an overweight rating on the stock in a research note on Wednesday. StockNews.com upgraded shares of Wynn Resorts from a hold rating to a buy rating in a research note on Thursday, July 18th. Jefferies Financial Group dropped their price target on shares of Wynn Resorts from $111.00 to $96.00 and set a hold rating on the stock in a research note on Thursday, July 11th. Finally, Seaport Res Ptn upgraded shares of Wynn Resorts from a hold rating to a strong-buy rating in a research note on Thursday, May 30th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $116.73.

Wynn Resorts Trading Down 2.6 %

WYNN stock traded down $2.02 on Wednesday, hitting $74.63. The company had a trading volume of 2,417,886 shares, compared to its average volume of 1,904,753. Wynn Resorts has a 12-month low of $71.63 and a 12-month high of $110.38. The stock’s 50-day simple moving average is $85.68 and its 200 day simple moving average is $94.76. The stock has a market cap of $8.36 billion, a price-to-earnings ratio of 10.22 and a beta of 1.82.

Wynn Resorts (NASDAQ:WYNN) last issued its earnings results on Tuesday, August 6th. The casino operator reported $1.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.02). Wynn Resorts had a negative return on equity of 50.07% and a net margin of 12.22%. The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter in the prior year, the business posted $0.91 EPS. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. Research analysts forecast that Wynn Resorts will post 5.62 earnings per share for the current year.

Wynn Resorts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Monday, August 19th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, August 19th. This represents a $1.00 dividend on an annualized basis and a yield of 1.34%. Wynn Resorts’s dividend payout ratio is currently 13.70%.

Insider Buying and Selling at Wynn Resorts

In other Wynn Resorts news, Director Betsy S. Atkins sold 2,446 shares of Wynn Resorts stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $94.39, for a total value of $230,877.94. Following the sale, the director now directly owns 9,226 shares in the company, valued at approximately $870,842.14. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.52% of the stock is currently owned by insiders.

Institutional Trading of Wynn Resorts

A number of institutional investors and hedge funds have recently bought and sold shares of WYNN. Norges Bank bought a new stake in Wynn Resorts in the 4th quarter valued at $157,305,000. Interval Partners LP increased its holdings in shares of Wynn Resorts by 999.0% in the 1st quarter. Interval Partners LP now owns 400,911 shares of the casino operator’s stock worth $40,985,000 after buying an additional 364,432 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Wynn Resorts by 29.1% in the 2nd quarter. Renaissance Technologies LLC now owns 1,345,100 shares of the casino operator’s stock worth $120,386,000 after buying an additional 303,033 shares during the last quarter. Sequoia Financial Advisors LLC increased its holdings in shares of Wynn Resorts by 6,720.4% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 257,537 shares of the casino operator’s stock worth $23,050,000 after buying an additional 253,761 shares during the last quarter. Finally, Janus Henderson Group PLC increased its holdings in shares of Wynn Resorts by 22.2% in the 1st quarter. Janus Henderson Group PLC now owns 1,125,718 shares of the casino operator’s stock worth $115,082,000 after buying an additional 204,852 shares during the last quarter. 68.87% of the stock is currently 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.