Credit Suisse Group Cuts Wynn Resorts (WYNN) Price Target to $104.00

Wynn Resorts (NASDAQ:WYNN) had its target price decreased by Credit Suisse Group from $119.00 to $104.00 in a research report released on Thursday morning, The Fly reports. Credit Suisse Group currently has a neutral rating on the casino operator’s stock.

Other equities analysts have also issued research reports about the company. BidaskClub upgraded Wynn Resorts from a hold rating to a buy rating in a research note on Tuesday, July 17th. Stifel Nicolaus lowered their price objective on Wynn Resorts from $207.00 to $192.00 and set a buy rating on the stock in a research note on Thursday, August 2nd. Jefferies Financial Group restated a buy rating on shares of Wynn Resorts in a research note on Wednesday, August 1st. Argus lowered Wynn Resorts from a buy rating to a hold rating and set a $135.00 price objective on the stock. in a research note on Tuesday, August 7th. Finally, Morgan Stanley lowered their price objective on Wynn Resorts from $200.00 to $187.00 and set a hold rating on the stock in a research note on Thursday, August 2nd. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the company. The company currently has an average rating of Hold and an average target price of $168.11.

Wynn Resorts stock traded down $0.70 during mid-day trading on Thursday, reaching $98.32. 5,227,519 shares of the company were exchanged, compared to its average volume of 3,185,552. Wynn Resorts has a 12 month low of $92.50 and a 12 month high of $203.63. The company has a debt-to-equity ratio of 4.47, a current ratio of 1.08 and a quick ratio of 1.04. The firm has a market cap of $11.92 billion, a PE ratio of 18.01, a price-to-earnings-growth ratio of 0.75 and a beta of 1.56.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data on Wednesday, November 7th. The casino operator reported $1.68 EPS for the quarter, missing the Zacks’ consensus estimate of $1.69 by ($0.01). Wynn Resorts had a return on equity of 69.17% and a net margin of 7.90%. The company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter last year, the business earned $1.52 EPS. Wynn Resorts’s revenue was up 10.2% on a year-over-year basis. Sell-side analysts expect that Wynn Resorts will post 7.35 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Wednesday, November 21st will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date of this dividend is Tuesday, November 20th. Wynn Resorts’s dividend payout ratio is presently 54.95%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Allianz Asset Management GmbH boosted its holdings in shares of Wynn Resorts by 11.8% during the 1st quarter. Allianz Asset Management GmbH now owns 57,917 shares of the casino operator’s stock valued at $10,561,000 after acquiring an additional 6,103 shares in the last quarter. DnB Asset Management AS acquired a new stake in shares of Wynn Resorts during the 2nd quarter valued at $1,752,000. IFM Investors Pty Ltd boosted its holdings in shares of Wynn Resorts by 65.8% during the 2nd quarter. IFM Investors Pty Ltd now owns 4,249 shares of the casino operator’s stock valued at $711,000 after acquiring an additional 1,686 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of Wynn Resorts by 39.2% during the 2nd quarter. State of Alaska Department of Revenue now owns 22,212 shares of the casino operator’s stock valued at $3,716,000 after acquiring an additional 6,250 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its holdings in shares of Wynn Resorts by 463.9% during the 2nd quarter. Handelsbanken Fonder AB now owns 54,700 shares of the casino operator’s stock valued at $9,153,000 after acquiring an additional 45,000 shares in the last quarter. 75.23% of the stock is currently owned by institutional investors.

Wynn Resorts Company Profile

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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