Morgan Stanley Lowers Wynn Resorts (NASDAQ:WYNN) Price Target to $97.00

Wynn Resorts (NASDAQ:WYNN - Free Report) had its price target trimmed by Morgan Stanley from $107.00 to $97.00 in a research report report published on Wednesday, Benzinga reports. The firm currently has an equal weight rating on the casino operator's stock.

WYNN has been the subject of several other research reports. Citigroup boosted their price objective on Wynn Resorts from $132.00 to $138.00 and gave the company a buy rating in a report on Wednesday, May 8th. Seaport Res Ptn upgraded shares of Wynn Resorts from a hold rating to a strong-buy rating in a research note on Thursday, May 30th. JPMorgan Chase & Co. dropped their price objective on shares of Wynn Resorts from $110.00 to $101.00 and set an overweight rating on the stock in a report on Wednesday, August 7th. Barclays lifted their target price on shares of Wynn Resorts from $124.00 to $128.00 and gave the stock an overweight rating in a research note on Thursday, May 9th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Wynn Resorts from $131.00 to $122.00 and set a buy rating on the stock in a research note on Wednesday, August 7th. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $116.07.

Wynn Resorts Stock Up 1.6 %

WYNN traded up $1.23 during trading on Wednesday, hitting $77.04. The company's stock had a trading volume of 2,184,029 shares, compared to its average volume of 1,933,683. The firm has a market capitalization of $8.63 billion, a P/E ratio of 10.38, a PEG ratio of 1.72 and a beta of 1.82. Wynn Resorts has a twelve month low of $71.63 and a twelve month high of $110.38. The stock's fifty day moving average price is $80.64 and its 200-day moving average price is $91.85.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last released its earnings results on Tuesday, August 6th. The casino operator reported $1.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.14 by ($0.02). Wynn Resorts had a net margin of 12.22% and a negative return on equity of 53.84%. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same quarter in the previous year, the firm earned $0.91 EPS. The firm's revenue was up 8.4% on a year-over-year basis. Equities research analysts expect that Wynn Resorts will post 5.56 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.30%. The ex-dividend date was Monday, August 19th. Wynn Resorts's payout ratio is 13.70%.

Institutional Investors Weigh In On Wynn Resorts

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Fifth Third Bancorp boosted its holdings in shares of Wynn Resorts by 8.5% in the 1st quarter. Fifth Third Bancorp now owns 1,416 shares of the casino operator's stock worth $145,000 after purchasing an additional 111 shares in the last quarter. Empirical Finance LLC boosted its stake in Wynn Resorts by 3.7% in the first quarter. Empirical Finance LLC now owns 3,220 shares of the casino operator's stock worth $329,000 after buying an additional 114 shares in the last quarter. EntryPoint Capital LLC grew its position in Wynn Resorts by 7.2% during the first quarter. EntryPoint Capital LLC now owns 1,738 shares of the casino operator's stock valued at $178,000 after acquiring an additional 117 shares during the last quarter. Federated Hermes Inc. raised its stake in shares of Wynn Resorts by 47.5% during the fourth quarter. Federated Hermes Inc. now owns 435 shares of the casino operator's stock worth $40,000 after acquiring an additional 140 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Wynn Resorts by 2.8% in 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. 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.