Wynn Resorts (NASDAQ:WYNN) Trading 15% Higher

Wynn Resorts, Limited (NASDAQ:WYNN)’s share price traded up 15% on Wednesday . The company traded as high as $71.39 and last traded at $76.53, 575,476 shares changed hands during mid-day trading. A decline of 91% from the average session volume of 6,715,758 shares. The stock had previously closed at $66.56.

A number of analysts have weighed in on the stock. Deutsche Bank increased their price target on shares of Wynn Resorts from $150.00 to $155.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Wolfe Research raised shares of Wynn Resorts from a “peer perform” rating to an “outperform” rating and set a $176.00 price target for the company in a report on Friday, January 10th. Morgan Stanley reduced their price target on shares of Wynn Resorts from $147.00 to $144.00 and set an “equal weight” rating for the company in a report on Thursday, February 20th. Cfra downgraded shares of Wynn Resorts from a “hold” rating to a “strong sell” rating in a report on Friday, February 7th. Finally, Goldman Sachs Group increased their price target on shares of Wynn Resorts from $157.00 to $181.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the stock. Wynn Resorts currently has an average rating of “Hold” and a consensus target price of $146.13.

The company has a market cap of $7.16 billion, a price-to-earnings ratio of 62.18 and a beta of 2.15. The company has a debt-to-equity ratio of 6.64, a quick ratio of 1.40 and a current ratio of 1.44. The business’s 50 day moving average price is $99.94 and its 200-day moving average price is $118.44.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Thursday, February 6th. The casino operator reported ($0.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($1.53). Wynn Resorts had a net margin of 1.86% and a return on equity of 16.03%. The business had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same quarter in the prior year, the company posted $1.06 EPS. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. On average, equities research analysts expect that Wynn Resorts, Limited will post 1.32 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 6th. Stockholders of record on Wednesday, February 26th were paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 5.59%. The ex-dividend date was Tuesday, February 25th. Wynn Resorts’s dividend payout ratio is 153.26%.

Several hedge funds have recently made changes to their positions in the company. Quadrant Capital Group LLC raised its stake in shares of Wynn Resorts by 153.5% in the 4th quarter. Quadrant Capital Group LLC now owns 431 shares of the casino operator’s stock valued at $53,000 after buying an additional 261 shares in the last quarter. Nuveen Asset Management LLC raised its stake in shares of Wynn Resorts by 192.4% in the 4th quarter. Nuveen Asset Management LLC now owns 2,249,204 shares of the casino operator’s stock valued at $312,347,000 after buying an additional 1,480,032 shares in the last quarter. Norges Bank acquired a new position in shares of Wynn Resorts in the 4th quarter valued at $132,852,000. Verus Capital Partners LLC acquired a new position in shares of Wynn Resorts in the 4th quarter valued at $82,000. Finally, Pearl River Capital LLC raised its stake in shares of Wynn Resorts by 264.0% in the 4th quarter. Pearl River Capital LLC now owns 5,704 shares of the casino operator’s stock valued at $792,000 after buying an additional 4,137 shares in the last quarter. Institutional investors own 76.90% of the company’s stock.

Wynn Resorts Company Profile (NASDAQ:WYNN)

Wynn Resorts, Limited owns and operates destination casino resorts. As of February 20, 2019, the company's Wynn Palace segment had approximately 424,000 square feet of casino space, which offered 320 table games and 1,041 slot machines, private gaming salons, and sky casinos; a luxury hotel towers with 1,706 guest rooms, suites, and villas; 13 food and beverage outlets; 106,000 square feet of retail space; 37,000 square feet of meeting and convention space; recreation and leisure facilities comprising a gondola ride, health club, spa, salon, and pool; and public attractions, such as performance lake and floral art displays.

Further Reading: Reverse Stock Split

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