Wynn Resorts (NASDAQ:WYNN) Price Target Lowered to $122.00 at Wells Fargo & Company

Wynn Resorts (NASDAQ:WYNN) had its target price decreased by Wells Fargo & Company from $125.00 to $122.00 in a research report sent to investors on Tuesday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the casino operator’s stock.

A number of other brokerages have also recently weighed in on WYNN. Barclays lowered their price target on Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating on the stock in a research report on Tuesday. Macquarie reiterated an “outperform” rating and set a $126.00 target price on shares of Wynn Resorts in a research report on Wednesday, August 7th. JPMorgan Chase & Co. reduced their price target on shares of Wynn Resorts from $110.00 to $101.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. StockNews.com lowered shares of Wynn Resorts from a “buy” rating to a “hold” rating in a report on Tuesday, September 17th. Finally, Jefferies Financial Group reduced their target price on Wynn Resorts from $111.00 to $96.00 and set a “hold” rating on the stock in a report on Thursday, July 11th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $115.71.

Wynn Resorts Stock Performance

Shares of WYNN stock opened at $84.30 on Tuesday. The firm has a fifty day moving average of $90.96 and a 200-day moving average of $88.56. Wynn Resorts has a 52-week low of $71.63 and a 52-week high of $110.38. The stock has a market cap of $9.26 billion, a price-to-earnings ratio of 10.39, a P/E/G ratio of 2.35 and a beta of 1.80.

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

Wynn Resorts Announces Dividend

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 paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.19%. The ex-dividend date is Friday, November 15th. Wynn Resorts’s dividend payout ratio (DPR) is presently 12.33%.

Insider Activity at Wynn Resorts

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of the business’s 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 directly owns 5,689 shares of the company’s stock, valued at approximately $447,894.97. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.52% of the stock is owned by company insiders.

Institutional Investors Weigh In On Wynn Resorts

Several institutional investors have recently modified their holdings of the business. Empirical Finance LLC grew its stake in shares of Wynn Resorts by 3.7% during the first quarter. Empirical Finance LLC now owns 3,220 shares of the casino operator’s stock worth $329,000 after purchasing an additional 114 shares during the period. EntryPoint Capital LLC grew its position in shares of Wynn Resorts by 7.2% during the 1st quarter. EntryPoint Capital LLC now owns 1,738 shares of the casino operator’s stock worth $178,000 after buying an additional 117 shares during the period. Fifth Third Bancorp increased its stake in shares of Wynn Resorts by 8.5% in the 2nd quarter. Fifth Third Bancorp now owns 1,536 shares of the casino operator’s stock valued at $137,000 after acquiring an additional 120 shares during the last quarter. Allworth Financial LP raised its position in shares of Wynn Resorts by 17.5% in the 3rd quarter. Allworth Financial LP now owns 895 shares of the casino operator’s stock valued at $86,000 after acquiring an additional 133 shares during the period. Finally, Vanguard Personalized Indexing Management LLC boosted its stake in Wynn Resorts by 2.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 5,540 shares of the casino operator’s stock worth $496,000 after acquiring an additional 149 shares during the last quarter. Institutional investors and hedge funds own 68.87% of the company’s stock.

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.