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

Wynn Resorts (NASDAQ:WYNN) had its price objective 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 analysts have also recently weighed in on the company. Macquarie reissued an “outperform” rating and issued a $120.00 price objective on shares of Wynn Resorts in a research report on Tuesday, November 5th. JPMorgan Chase & Co. boosted their price target on shares of Wynn Resorts from $101.00 to $113.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Wells Fargo & Company decreased their price objective on shares of Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. StockNews.com cut shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Tuesday, September 17th. Finally, Barclays reduced their target price on shares of Wynn Resorts from $125.00 to $119.00 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 assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average 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 firm has a 50-day moving average of $91.04 and a 200-day moving average of $87.41. Wynn Resorts has a one year low of $71.63 and a one year high of $110.38. The company has a market cap of $9.15 billion, a P/E ratio of 10.27, a P/E/G ratio of 3.46 and a beta of 1.78.

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

Wynn Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Friday, November 15th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a yield of 1.20%. Wynn Resorts’s dividend payout ratio (DPR) is 12.33%.

Hedge Funds Weigh In On Wynn Resorts

Large investors have recently modified their holdings of the company. Fisher Asset Management LLC lifted its stake in Wynn Resorts by 70.7% in the 3rd quarter. Fisher Asset Management LLC now owns 3,971,846 shares of the casino operator’s stock worth $380,821,000 after purchasing an additional 1,644,965 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Wynn Resorts by 1.5% in the third quarter. Geode Capital Management LLC now owns 2,406,260 shares of the casino operator’s stock worth $229,945,000 after buying an additional 34,907 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Wynn Resorts by 29.1% during the second quarter. Renaissance Technologies LLC now owns 1,345,100 shares of the casino operator’s stock valued at $120,386,000 after buying an additional 303,033 shares during the period. Regal Partners Ltd boosted its stake in Wynn Resorts by 24.0% during the third quarter. Regal Partners Ltd now owns 898,705 shares of the casino operator’s stock valued at $86,168,000 after buying an additional 174,005 shares during the period. Finally, Holocene Advisors LP grew its position in Wynn Resorts by 27,868.5% during the third quarter. Holocene Advisors LP now owns 757,946 shares of the casino operator’s stock worth $72,672,000 after buying an additional 755,236 shares in the last quarter. 88.64% of the stock is currently owned by 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.