Barclays Issues Pessimistic Forecast for Wynn Resorts (NASDAQ:WYNN) Stock Price

Wynn Resorts (NASDAQ:WYNN) had its price objective cut by Barclays from $125.00 to $119.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have an overweight rating on the casino operator’s stock.

A number of other equities analysts have also weighed in on WYNN. StockNews.com lowered Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Tuesday, September 17th. Macquarie reiterated an “outperform” rating and set a $126.00 price objective on shares of Wynn Resorts in a research report on Wednesday, August 7th. Wells Fargo & Company boosted 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. Deutsche Bank Aktiengesellschaft cut their target price on shares of Wynn Resorts from $131.00 to $122.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Finally, Jefferies Financial Group decreased 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. Four 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 stock. Based on data from MarketBeat.com, Wynn Resorts has a consensus rating of “Moderate Buy” and a consensus target price of $115.71.

Wynn Resorts Stock Down 3.3 %

Shares of NASDAQ:WYNN opened at $84.30 on Tuesday. The firm’s 50 day moving average price is $90.96 and its 200-day moving average price is $88.56. The stock has a market capitalization of $9.26 billion, a PE ratio of 10.39, a price-to-earnings-growth ratio of 2.35 and a beta of 1.80. Wynn Resorts has a twelve month low of $71.63 and a twelve month high of $110.38.

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

Wynn Resorts Dividend Announcement

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

Insider Buying and Selling at Wynn Resorts

In related news, Director Patricia Mulroy sold 2,650 shares of Wynn Resorts stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $78.73, for a total transaction of $208,634.50. Following the completion of the sale, the director now owns 5,689 shares of the company’s stock, valued at $447,894.97. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.52% of the stock is currently owned by company insiders.

Institutional Trading of Wynn Resorts

A number of hedge funds have recently added to or reduced their stakes in the company. Norden Group LLC purchased a new stake in shares of Wynn Resorts during the 1st quarter worth about $231,000. First Trust Direct Indexing L.P. purchased a new stake in shares of Wynn Resorts in the first quarter valued at approximately $260,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Wynn Resorts by 25.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,810 shares of the casino operator’s stock worth $1,567,000 after buying an additional 2,982 shares during the period. Daiwa Securities Group Inc. grew its stake in Wynn Resorts by 10.8% in the 1st quarter. Daiwa Securities Group Inc. now owns 9,883 shares of the casino operator’s stock valued at $1,010,000 after acquiring an additional 965 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S increased its holdings in Wynn Resorts by 42.9% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 5,796 shares of the casino operator’s stock worth $593,000 after acquiring an additional 1,740 shares in the last quarter. 68.87% of the stock is owned by hedge funds and other 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.