Wynn Resorts (NASDAQ:WYNN) Price Target Lowered to $105.00 at Jefferies Financial Group

Wynn Resorts (NASDAQ:WYNN) had its target price decreased by Jefferies Financial Group from $109.00 to $105.00 in a research note published on Friday morning,Benzinga reports. Jefferies Financial Group currently has a hold rating on the casino operator’s stock.

Several other research firms also recently issued reports on WYNN. Susquehanna boosted their price objective on Wynn Resorts from $92.00 to $122.00 and gave the company a “positive” rating in a report on Friday, October 11th. Morgan Stanley boosted their price target on shares of Wynn Resorts from $112.00 to $115.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 22nd. Stifel Nicolaus lowered their price objective on shares of Wynn Resorts from $121.00 to $103.00 and set a “buy” rating for the company in a research note on Friday, September 13th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Wynn Resorts from $122.00 to $118.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Finally, Wells Fargo & Company decreased 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 report on Tuesday, November 5th. Four equities 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 data from MarketBeat, Wynn Resorts has a consensus rating of “Moderate Buy” and a consensus price target of $116.36.

Wynn Resorts Price Performance

Shares of WYNN stock opened at $83.32 on Friday. The company has a 50-day moving average of $91.04 and a two-hundred day moving average of $87.39. The firm has a market cap of $9.15 billion, a PE ratio of 10.27, a price-to-earnings-growth ratio of 3.46 and a beta of 1.77. Wynn Resorts has a 1-year low of $71.63 and a 1-year high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data on Monday, November 4th. The casino operator reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). The company had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.73 billion. Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.99 EPS. Sell-side analysts anticipate that Wynn Resorts will post 4.79 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th were given a dividend of $0.25 per share. The ex-dividend date was Friday, November 15th. This represents a $1.00 annualized dividend and a dividend yield of 1.20%. Wynn Resorts’s dividend payout ratio is currently 12.33%.

Hedge Funds Weigh In On Wynn Resorts

Several hedge funds have recently added to or reduced their stakes in WYNN. International Assets Investment Management LLC acquired a new position in shares of Wynn Resorts in the 2nd quarter valued at $25,000. Wilmington Savings Fund Society FSB acquired a new position in Wynn Resorts in the third quarter valued at $31,000. Blue Trust Inc. grew its holdings in shares of Wynn Resorts by 556.0% during the third quarter. Blue Trust Inc. now owns 551 shares of the casino operator’s stock worth $49,000 after purchasing an additional 467 shares during the last quarter. 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 worth $86,000 after purchasing an additional 133 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its position in shares of Wynn Resorts by 703.1% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,028 shares of the casino operator’s stock worth $99,000 after purchasing an additional 900 shares in the last quarter. 88.64% of the stock is currently owned by hedge funds and other institutional investors.

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.