Wynn Resorts (NASDAQ:WYNN) Rating Lowered to "Hold" at StockNews.com

StockNews.com downgraded shares of Wynn Resorts (NASDAQ:WYNN - Free Report) from a buy rating to a hold rating in a research report released on Wednesday.

Other equities analysts also recently issued research reports about the stock. Jefferies Financial Group raised shares of Wynn Resorts from a "hold" rating to a "buy" rating and raised their price target for the company from $105.00 to $118.00 in a research note on Tuesday, February 18th. Morgan Stanley dropped their price target 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. Stifel Nicolaus raised their price target 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. Wells Fargo & Company dropped their price target on shares of Wynn Resorts from $125.00 to $122.00 and set an "overweight" rating for the company in a research note on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Wynn Resorts from $122.00 to $118.00 and set a "buy" rating for the company in a research note on Tuesday, November 5th. Two research 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 company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $119.58.

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Wynn Resorts Trading Up 1.3 %

NASDAQ:WYNN traded up $1.13 on Wednesday, hitting $89.32. The company had a trading volume of 1,468,241 shares, compared to its average volume of 2,809,046. The stock has a market capitalization of $9.50 billion, a price-to-earnings ratio of 21.22, a PEG ratio of 2.35 and a beta of 1.76. The firm has a 50 day moving average of $85.35 and a two-hundred day moving average of $87.77. Wynn Resorts has a 52 week low of $71.63 and a 52 week high of $110.38.

Wynn Resorts (NASDAQ:WYNN - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The casino operator reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $1.15. The firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.78 billion. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. As a group, equities analysts forecast that Wynn Resorts will post 5.17 EPS for the current year.

Wynn Resorts Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date of this dividend is Monday, February 24th. Wynn Resorts's payout ratio is 23.75%.

Insiders Place Their Bets

In related news, Director Philip G. Satre purchased 22,200 shares of Wynn Resorts stock in a transaction on Tuesday, February 18th. The stock was acquired at an average cost of $92.18 per share, for a total transaction of $2,046,396.00. Following the completion of the acquisition, the director now owns 34,195 shares of the company's stock, valued at $3,152,095.10. This trade represents a 185.08 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.52% of the company's stock.

Institutional Investors Weigh In On Wynn Resorts

A number of large investors have recently bought and sold shares of the stock. IHT Wealth Management LLC grew its holdings in Wynn Resorts by 1.7% in the third quarter. IHT Wealth Management LLC now owns 6,766 shares of the casino operator's stock worth $654,000 after purchasing an additional 112 shares during the period. Fifth Third Bancorp grew its holdings in shares of Wynn Resorts by 5.8% during the fourth quarter. Fifth Third Bancorp now owns 2,183 shares of the casino operator's stock valued at $188,000 after buying an additional 119 shares during the last quarter. Venturi Wealth Management LLC grew its holdings in shares of Wynn Resorts by 15.0% during the fourth quarter. Venturi Wealth Management LLC now owns 936 shares of the casino operator's stock valued at $81,000 after buying an additional 122 shares during the last quarter. BOKF NA grew its holdings in shares of Wynn Resorts by 3.9% during the fourth quarter. BOKF NA now owns 3,557 shares of the casino operator's stock valued at $289,000 after buying an additional 132 shares during the last quarter. Finally, Allworth Financial LP grew its holdings in shares of Wynn Resorts by 17.5% during the third quarter. Allworth Financial LP now owns 895 shares of the casino operator's stock valued at $86,000 after buying an additional 133 shares during the last quarter. 88.64% of the stock is currently owned by institutional investors and hedge funds.

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.