Wynn Resorts (NASDAQ:WYNN) Cut to “Hold” at StockNews.com

StockNews.com cut shares of Wynn Resorts (NASDAQ:WYNN) from a buy rating to a hold rating in a research note released on Wednesday.

Several other research analysts also recently weighed in on WYNN. Jefferies Financial Group upgraded Wynn Resorts from a “hold” rating to a “buy” rating and increased their price target for the stock from $105.00 to $118.00 in a research note on Tuesday, February 18th. Barclays increased their target price on shares of Wynn Resorts from $115.00 to $116.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Morgan Stanley reduced their target price on shares of Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating for the company in a research note on Monday, February 24th. Mizuho upped their price target on shares of Wynn Resorts from $118.00 to $132.00 and gave the company an “outperform” rating in a research note on Friday, February 14th. Finally, Stifel Nicolaus lifted their price objective on shares of Wynn Resorts from $123.00 to $128.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $119.58.

Wynn Resorts Stock Performance

Shares of WYNN stock opened at $86.18 on Wednesday. Wynn Resorts has a 52 week low of $71.63 and a 52 week high of $110.38. The firm’s 50-day simple moving average is $85.47 and its two-hundred day simple moving average is $88.55. The firm has a market cap of $9.17 billion, a price-to-earnings ratio of 20.47, a P/E/G ratio of 2.35 and a beta of 1.77.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Thursday, February 13th. The casino operator reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $1.15. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. The company had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.78 billion. Analysts forecast that Wynn Resorts will post 5.17 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.00 annualized dividend and a dividend yield of 1.16%. Wynn Resorts’s payout ratio is currently 23.75%.

Insider Activity

In related news, Director Philip G. Satre acquired 22,200 shares of the stock in a transaction dated Tuesday, February 18th. The shares were purchased at an average price of $92.18 per share, for a total transaction of $2,046,396.00. Following the transaction, the director now owns 34,195 shares in the company, valued at $3,152,095.10. This represents a 185.08 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.52% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in WYNN. Principal Financial Group Inc. boosted its holdings in shares of Wynn Resorts by 1.9% in the 3rd quarter. Principal Financial Group Inc. now owns 108,067 shares of the casino operator’s stock worth $10,361,000 after purchasing an additional 2,001 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in Wynn Resorts by 4.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 188,753 shares of the casino operator’s stock worth $18,098,000 after buying an additional 7,850 shares in the last quarter. Regal Partners Ltd boosted its stake in Wynn Resorts by 24.0% in the third quarter. Regal Partners Ltd now owns 898,705 shares of the casino operator’s stock worth $86,168,000 after buying an additional 174,005 shares in the last quarter. CIBC Asset Management Inc grew its position in Wynn Resorts by 7.7% during the third quarter. CIBC Asset Management Inc now owns 14,252 shares of the casino operator’s stock valued at $1,366,000 after acquiring an additional 1,017 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in shares of Wynn Resorts by 49.2% during the third quarter. Thrivent Financial for Lutherans now owns 11,683 shares of the casino operator’s stock worth $1,120,000 after acquiring an additional 3,850 shares in the last quarter. Institutional investors own 88.64% 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.