Wynn Resorts Ltd. (WYNN) Lowered to Buy at Vetr Inc.
Vetr lowered shares of Wynn Resorts Ltd. (NASDAQ:WYNN) from a strong-buy rating to a buy rating in a research note released on Thursday. Vetr currently has $110.77 price objective on the casino operator’s stock.
WYNN has been the topic of several other reports. restated an underperform rating on shares of Wynn Resorts in a report on Friday, October 14th. Gabelli reaffirmed a buy rating and issued a $124.00 price objective on shares of Wynn Resorts in a research report on Monday, October 17th. Morgan Stanley raised shares of Wynn Resorts from an equal weight rating to an overweight rating in a research report on Monday, October 24th. Deutsche Bank AG reaffirmed a hold rating on shares of Wynn Resorts in a research report on Friday, September 16th. Finally, Zacks Investment Research raised shares of Wynn Resorts from a hold rating to a buy rating and set a $110.00 price objective on the stock in a research report on Monday, August 1st. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $102.16.
Shares of Wynn Resorts (NASDAQ:WYNN) opened at 99.79 on Thursday. The company’s 50 day moving average is $93.40 and its 200 day moving average is $96.14. The firm has a market cap of $10.12 billion, a price-to-earnings ratio of 47.07 and a beta of 1.89. Wynn Resorts has a 52-week low of $49.95 and a 52-week high of $109.50.
Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings results on Wednesday, November 2nd. The casino operator reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.78 by $0.03. Wynn Resorts had a return on equity of 3,973.99% and a net margin of 5.24%. The firm had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter last year, the firm posted $0.86 earnings per share. The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. Analysts anticipate that Wynn Resorts will post $3.79 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, November 29th. Investors of record on Thursday, November 17th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, November 15th. This represents a $2.00 dividend on an annualized basis and a yield of 2.00%. Wynn Resorts’s dividend payout ratio is currently 94.34%.
In related news, Director Daniel Boone Wayson sold 37,500 shares of the company’s stock in a transaction on Wednesday, November 9th. The shares were sold at an average price of $87.12, for a total transaction of $3,267,000.00. Following the completion of the sale, the director now directly owns 54,510 shares in the company, valued at approximately $4,748,911.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 12.60% of the company’s stock.
A number of large investors have recently bought and sold shares of WYNN. TLP Group LLC purchased a new stake in Wynn Resorts during the second quarter worth approximately $114,000. Mizuho Asset Management Co. Ltd. raised its stake in Wynn Resorts by 176.4% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,266 shares of the casino operator’s stock worth $115,000 after buying an additional 808 shares in the last quarter. Advisory Services Network LLC raised its stake in Wynn Resorts by 171.8% in the third quarter. Advisory Services Network LLC now owns 1,582 shares of the casino operator’s stock worth $154,000 after buying an additional 1,000 shares in the last quarter. Krilogy Financial LLC raised its stake in Wynn Resorts by 57.8% in the second quarter. Krilogy Financial LLC now owns 1,775 shares of the casino operator’s stock worth $161,000 after buying an additional 650 shares in the last quarter. Finally, Pacer Advisors Inc. raised its stake in Wynn Resorts by 10.4% in the second quarter. Pacer Advisors Inc. now owns 1,814 shares of the casino operator’s stock worth $164,000 after buying an additional 171 shares in the last quarter. Institutional investors own 74.82% of the company’s stock.
Wynn Resorts Company Profile
Wynn Resorts, Limited is a developer, owner and operator of destination casino resorts that integrate accommodations and a range of amenities, including dining outlets, retail offerings, entertainment theaters and meeting complexes. The Company operates through two segments: Macau Operations and Las Vegas Operations.
To view Vetr’s full report, visit Vetr’s official website.
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