Morgan Stanley Issues Pessimistic Forecast for Wynn Resorts (NASDAQ:WYNN) Stock Price

Wynn Resorts (NASDAQ:WYNN) had its price target trimmed by Morgan Stanley from $105.00 to $103.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an overweight rating on the casino operator’s stock.

Several other analysts also recently issued reports on the company. Jefferies Financial Group upgraded Wynn Resorts from a “hold” rating to a “buy” rating and upped their price objective for the company from $105.00 to $118.00 in a research report on Tuesday, February 18th. Barclays upped their target price on shares of Wynn Resorts from $115.00 to $116.00 and gave the company an “overweight” rating in a report on Friday, February 14th. JPMorgan Chase & Co. lifted 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. Stifel Nicolaus boosted their price objective on shares of Wynn Resorts from $123.00 to $128.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Finally, Wells Fargo & Company lowered their target price on shares of Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Wynn Resorts currently has a consensus rating of “Moderate Buy” and an average target price of $119.58.

Wynn Resorts Trading Up 0.1 %

Shares of NASDAQ WYNN opened at $91.10 on Monday. The company’s 50-day moving average price is $85.35 and its 200 day moving average price is $87.66. Wynn Resorts has a 52 week low of $71.63 and a 52 week high of $110.38. The stock has a market cap of $9.69 billion, a price-to-earnings ratio of 21.64, a PEG ratio of 2.35 and a beta of 1.76.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Thursday, February 13th. The casino operator reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $1.15. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. The business had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.78 billion. As a group, research analysts expect that Wynn Resorts will post 5.17 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date is Monday, February 24th. Wynn Resorts’s dividend payout ratio is presently 23.75%.

Insider Activity

In other news, Director Philip G. Satre bought 22,200 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was acquired at an average cost of $92.18 per share, for a total transaction of $2,046,396.00. Following the completion of the purchase, the director now owns 34,195 shares of the company’s stock, valued at $3,152,095.10. This trade represents a 185.08 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On Wynn Resorts

A number of institutional investors have recently added to or reduced their stakes in the company. IHT Wealth Management LLC grew its stake in shares of Wynn Resorts by 1.7% during the third quarter. IHT Wealth Management LLC now owns 6,766 shares of the casino operator’s stock valued at $654,000 after acquiring an additional 112 shares in the last quarter. Fifth Third Bancorp boosted its holdings in Wynn Resorts by 5.8% in the fourth quarter. Fifth Third Bancorp now owns 2,183 shares of the casino operator’s stock valued at $188,000 after purchasing an additional 119 shares during the last quarter. Venturi Wealth Management LLC grew its stake in Wynn Resorts by 15.0% during the 4th quarter. Venturi Wealth Management LLC now owns 936 shares of the casino operator’s stock valued at $81,000 after purchasing an additional 122 shares in the last quarter. BOKF NA increased its holdings in Wynn Resorts by 3.9% during the 4th quarter. BOKF NA now owns 3,557 shares of the casino operator’s stock worth $289,000 after purchasing an additional 132 shares during the last quarter. Finally, Allworth Financial LP raised its position in shares of Wynn Resorts by 17.5% in the 3rd quarter. Allworth Financial LP now owns 895 shares of the casino operator’s stock valued at $86,000 after purchasing an additional 133 shares in the last quarter. Institutional investors and hedge funds own 88.64% of the company’s stock.

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.