Stifel Nicolaus Lowers Wynn Resorts (NASDAQ:WYNN) Price Target to $103.00

Wynn Resorts (NASDAQ:WYNN) had its target price cut by Stifel Nicolaus from $121.00 to $103.00 in a report published on Friday, Benzinga reports. They currently have a buy rating on the casino operator’s stock.

Several other research firms have also recently commented on WYNN. StockNews.com upgraded Wynn Resorts from a hold rating to a buy rating in a research note on Wednesday, September 4th. Morgan Stanley cut their price target on Wynn Resorts from $107.00 to $97.00 and set an equal weight rating on the stock in a research note on Wednesday, September 4th. UBS Group upgraded Wynn Resorts to a hold rating in a research note on Friday, August 23rd. Deutsche Bank Aktiengesellschaft lowered their price objective on Wynn Resorts from $131.00 to $122.00 and set a buy rating for the company in a report on Wednesday, August 7th. Finally, Macquarie reissued an outperform rating and issued a $126.00 price objective on shares of Wynn Resorts in a report on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Wynn Resorts has a consensus rating of Moderate Buy and a consensus target price of $113.73.

Wynn Resorts Price Performance

Shares of WYNN opened at $78.95 on Friday. The stock’s 50-day moving average is $78.74 and its two-hundred day moving average is $90.17. The stock has a market cap of $8.76 billion, a PE ratio of 10.82, a P/E/G ratio of 1.93 and a beta of 1.80. Wynn Resorts has a 12 month low of $71.63 and a 12 month high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Tuesday, August 6th. The casino operator reported $1.12 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.74 billion. Wynn Resorts had a negative return on equity of 53.84% and a net margin of 12.22%. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.91 EPS. On average, research analysts anticipate that Wynn Resorts will post 5.55 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date was Monday, August 19th. Wynn Resorts’s dividend payout ratio (DPR) is 13.70%.

Hedge Funds Weigh In On Wynn Resorts

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. International Assets Investment Management LLC lifted its position in Wynn Resorts by 4,067.4% in the fourth quarter. International Assets Investment Management LLC now owns 7,668 shares of the casino operator’s stock worth $699,000 after purchasing an additional 7,484 shares during the period. Victory Capital Management Inc. lifted its position in Wynn Resorts by 359.6% in the fourth quarter. Victory Capital Management Inc. now owns 16,605 shares of the casino operator’s stock worth $1,513,000 after purchasing an additional 12,992 shares during the period. Private Advisor Group LLC lifted its position in Wynn Resorts by 36.2% in the fourth quarter. Private Advisor Group LLC now owns 9,004 shares of the casino operator’s stock worth $820,000 after purchasing an additional 2,391 shares during the period. Principal Securities Inc. acquired a new stake in Wynn Resorts in the fourth quarter worth approximately $100,000. Finally, Avantax Advisory Services Inc. lifted its position in Wynn Resorts by 35.2% in the fourth quarter. Avantax Advisory Services Inc. now owns 8,173 shares of the casino operator’s stock worth $745,000 after purchasing an additional 2,127 shares during the period. 68.87% of the stock is owned by institutional investors.

Wynn Resorts Company Profile

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.