Investment Analysts’ Recent Ratings Changes for Wynn Resorts (WYNN)

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Wynn Resorts (NASDAQ: WYNN) has recently received a number of price target changes and ratings updates:

  • 2/4/2019 – Wynn Resorts was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Shares of Wynn Resorts have outperformed the industry in the past three months. In fourth-quarter 2018, it reported mixed results, wherein earnings lagged the Zacks Consensus Estimate but revenues surpassed the same. This marked the company’s the third straight quarter of earnings miss and second successive quarter of revenue beat. The company’s Las Vegas operations returned to growth following a decline in the prior quarter. While Wynn Palace impressive run continued in the fourth quarter, Macau Operations reported disappointing results. Nevertheless, the opening of the world's longest sea-crossing bridge and tunnel in the prior year, which connects Macau to Hong Kong as well as mainland China's Pearl River Delta, is likely to prove beneficial to the casino operator. Meanwhile, Wynn Resorts’ heavy reliance on debt financing remains a concern. Estimates for current-quarter and year have witnessed downward revisions.”
  • 1/31/2019 – Wynn Resorts had its price target raised by analysts at JPMorgan Chase & Co. to $149.00. They now have an “overweight” rating on the stock.
  • 1/31/2019 – Wynn Resorts had its “neutral” rating reaffirmed by analysts at Macquarie. They now have a $121.00 price target on the stock, up previously from $116.00.
  • 1/31/2019 – Wynn Resorts had its “market perform” rating reaffirmed by analysts at Telsey Advisory Group. They now have a $125.00 price target on the stock, up previously from $105.00.
  • 1/31/2019 – Wynn Resorts had its “equal weight” rating reaffirmed by analysts at Morgan Stanley. They now have a $122.00 price target on the stock, up previously from $121.00.
  • 1/31/2019 – Wynn Resorts had its “buy” rating reaffirmed by analysts at Nomura. They now have a $145.00 price target on the stock, up previously from $132.00.
  • 1/31/2019 – Wynn Resorts had its “buy” rating reaffirmed by analysts at Roth Capital. They now have a $135.00 price target on the stock, down previously from $140.00.
  • 1/30/2019 – Wynn Resorts had its “buy” rating reaffirmed by analysts at Deutsche Bank AG. They now have a $130.00 price target on the stock.
  • 1/30/2019 – Wynn Resorts was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 1/29/2019 – Wynn Resorts was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 1/16/2019 – Wynn Resorts had its price target raised by analysts at Stifel Nicolaus from $138.00 to $141.00. They now have a “buy” rating on the stock.
  • 1/12/2019 – Wynn Resorts was upgraded by analysts at Zacks Investment Research from a “strong sell” rating to a “buy” rating. They now have a $123.00 price target on the stock. According to Zacks, “Shares of Wynn Resorts have outperformed the industry in the past three months. Strength in non-gaming revenues continue to drive the top line. Further, estimates for current quarter and year have witnessed upward revisions over the past 60 days, reflecting analysts’ optimism surrounding the company’s future earnings potential. Wynn Resorts generates a solid share of its revenues from Macau resorts. Gambling revenues from Macau surged 16.6% in December and also came ahead of the analysts’ expectation, which is likely to benefit the company in the current quarter. However, Dismal Las Vegas performance has also been weighing on the company’s performance lately. In the recently reported quarter, Las Vegas revenues was impacted by decline in both casino and non-casino revenues. Moreover, the company’s earnings have missed the consensus mark for the second straight quarter.”
  • 1/7/2019 – Wynn Resorts was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 1/7/2019 – Wynn Resorts had its price target raised by analysts at Deutsche Bank AG from $123.00 to $130.00. They now have a “buy” rating on the stock.
  • 1/1/2019 – Wynn Resorts was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 12/18/2018 – Wynn Resorts was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 12/17/2018 – Wynn Resorts had its “buy” rating reaffirmed by analysts at Deutsche Bank AG. They now have a $123.00 price target on the stock.

Wynn Resorts stock traded down $1.49 during mid-day trading on Monday, hitting $123.72. The company’s stock had a trading volume of 14,561 shares, compared to its average volume of 2,290,164. The company has a debt-to-equity ratio of 5.65, a quick ratio of 1.11 and a current ratio of 1.14. The firm has a market cap of $13.60 billion, a price-to-earnings ratio of 18.92, a price-to-earnings-growth ratio of 2.07 and a beta of 1.73. Wynn Resorts, Limited has a twelve month low of $90.06 and a twelve month high of $202.48.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Wednesday, January 30th. The casino operator reported $1.06 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.36 by ($0.30). The business had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.63 billion. Wynn Resorts had a return on equity of 50.79% and a net margin of 8.70%. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.40 EPS. As a group, equities analysts predict that Wynn Resorts, Limited will post 6.06 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 26th. Shareholders of record on Friday, February 15th will be given a $0.75 dividend. The ex-dividend date of this dividend is Thursday, February 14th. This represents a $3.00 annualized dividend and a yield of 2.42%. Wynn Resorts’s dividend payout ratio (DPR) is 45.87%.

In related news, CEO Matt Maddox sold 18,900 shares of the firm’s stock in a transaction that occurred on Monday, February 4th. The shares were sold at an average price of $124.15, for a total value of $2,346,435.00. Following the completion of the transaction, the chief executive officer now owns 487,399 shares of the company’s stock, valued at approximately $60,510,585.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Philip G. Satre acquired 9,800 shares of the firm’s stock in a transaction that occurred on Tuesday, November 13th. The stock was purchased at an average cost of $103.01 per share, with a total value of $1,009,498.00. Following the purchase, the director now directly owns 100 shares in the company, valued at approximately $10,301. The disclosure for this purchase can be found here. Insiders own 0.95% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Parallel Advisors LLC boosted its stake in shares of Wynn Resorts by 84.2% during the 4th quarter. Parallel Advisors LLC now owns 256 shares of the casino operator’s stock valued at $25,000 after buying an additional 117 shares during the period. AdvisorNet Financial Inc boosted its stake in shares of Wynn Resorts by 47.1% during the 4th quarter. AdvisorNet Financial Inc now owns 456 shares of the casino operator’s stock valued at $45,000 after buying an additional 146 shares during the period. Pearl River Capital LLC acquired a new stake in shares of Wynn Resorts during the 4th quarter valued at $63,000. Sterling Investment Advisors Ltd. boosted its stake in shares of Wynn Resorts by 87.5% during the 4th quarter. Sterling Investment Advisors Ltd. now owns 750 shares of the casino operator’s stock valued at $74,000 after buying an additional 350 shares during the period. Finally, Penserra Capital Management LLC boosted its stake in shares of Wynn Resorts by 325.5% during the 4th quarter. Penserra Capital Management LLC now owns 800 shares of the casino operator’s stock valued at $79,000 after buying an additional 612 shares during the period. 76.13% of the stock is owned by hedge funds and other institutional investors.

Wynn Resorts, Limited owns and operates destination casino resorts. As of February 15, 2018, the company's Wynn Macau segment had approximately 273,000 square feet of casino space, which offered 316 table games and 988 slot machines, private gaming salons, sky casinos, and a poker pit; 2 luxury hotel towers with 1,008 guest rooms and suites; 8 food and beverage outlets; 59,000 square feet of retail space; 31,000 square feet of meeting and convention space; recreation and leisure facilities comprising 2 health clubs, spas, a salon, and a pool; and a rotunda show, a Chinese zodiac-inspired ceiling.

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