Wynn Resorts (NASDAQ:WYNN) Reaches New 52-Week Low - What's Next?
Wynn Resorts (NASDAQ:WYNN) reached a new 52-week low of $78.78, closing at $80.31. Analysts have mixed views, with Barclays lowering its price target to $99 and Argus downgrading to a hold rating. Mizuho raised its target to $132, while Jefferies upgraded to buy with a target of $118. The stock has a market cap of $8.53 billion and a PE ratio of 19.08. The company recently paid a quarterly dividend of $0.25. Insider buying has increased, with significant purchases from directors and major shareholders.
Wynn Resorts, Limited (NASDAQ:WYNN - Get Free Report) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $78.78 and last traded at $80.31, with a volume of 1920462 shares changing hands. The stock had previously closed at $81.55.
Wall Street Analysts Forecast Growth
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Several research firms have recently commented on WYNN. Barclays decreased their price target on shares of Wynn Resorts from $116.00 to $99.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Argus lowered Wynn Resorts from a "buy" rating to a "hold" rating in a report on Wednesday, April 23rd. StockNews.com cut shares of Wynn Resorts from a "buy" rating to a "hold" rating in a research report on Wednesday, March 12th. Mizuho boosted their target price on shares of Wynn Resorts from $118.00 to $132.00 and gave the stock an "outperform" rating in a report on Friday, February 14th. Finally, Jefferies Financial Group upgraded Wynn Resorts from a "hold" rating to a "buy" rating and increased their price target for the stock from $105.00 to $118.00 in a report on Tuesday, February 18th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $118.17.
Check Out Our Latest Report on WYNN
Wynn Resorts Stock Down 1.5 %
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The company has a market cap of $8.53 billion, a PE ratio of 19.08, a P/E/G ratio of 2.35 and a beta of 1.53. The business's fifty day moving average is $81.41 and its 200-day moving average is $86.65.
Wynn Resorts (NASDAQ:WYNN - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The casino operator reported $2.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.27 by $1.15. The business had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.78 billion. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. Analysts forecast that Wynn Resorts, Limited will post 5.17 EPS for the current fiscal year.
Wynn Resorts Dividend Announcement
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The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were paid a $0.25 dividend. The ex-dividend date was Monday, February 24th. This represents a $1.00 annualized dividend and a yield of 1.25%. Wynn Resorts's dividend payout ratio (DPR) is currently 23.75%.
Insider Buying and Selling at Wynn Resorts
In related news, Director Philip G. Satre bought 22,200 shares of the stock in a transaction dated Tuesday, February 18th. The shares were purchased at an average price of $92.18 per share, for a total transaction of $2,046,396.00. Following the completion of the purchase, the director now directly owns 34,195 shares of the company's stock, valued at $3,152,095.10. This represents a 185.08 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Tilman J. Fertitta bought 5,025 shares of the stock in a transaction dated Friday, March 21st. The shares were purchased at an average cost of $80.99 per share, for a total transaction of $406,974.75. Following the completion of the purchase, the insider now owns 10,905,025 shares in the company, valued at approximately $883,197,974.75. This represents a 0.05 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 438,700 shares of company stock worth $31,300,943 over the last quarter. Insiders own 0.52% of the company's stock.
Institutional Trading of Wynn Resorts
A number of hedge funds and other institutional investors have recently made changes to their positions in WYNN. New Wave Wealth Advisors LLC acquired a new position in Wynn Resorts during the 4th quarter worth approximately $26,000. Global X Japan Co. Ltd. lifted its holdings in Wynn Resorts by 120.7% in the first quarter. Global X Japan Co. Ltd. now owns 320 shares of the casino operator's stock valued at $27,000 after acquiring an additional 175 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Wynn Resorts during the 3rd quarter worth approximately $31,000. Thurston Springer Miller Herd & Titak Inc. grew its position in shares of Wynn Resorts by 3,408.3% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 421 shares of the casino operator's stock valued at $35,000 after purchasing an additional 409 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Wynn Resorts during the 4th quarter worth about $36,000. Institutional investors and hedge funds own 88.64% of the company's stock.
Wynn Resorts Company Profile
(Get Free Report)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.
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