Wynn Resorts (NASDAQ:WYNN) Downgraded by Wall Street Zen to “Sell”

Wall Street Zen downgraded shares of Wynn Resorts (NASDAQ:WYNN) from a hold rating to a sell rating in a research report released on Saturday,Wall Street Zen reports.

WYNN has been the topic of a number of other research reports. Wolfe Research initiated coverage on Wynn Resorts in a research report on Wednesday, September 2nd. They set an “outperform” rating and a $128.00 price objective on the stock. Argus upped their target price on Wynn Resorts from $115.00 to $130.00 and gave the company a “buy” rating in a report on Thursday, August 6th. UBS Group set a $120.00 target price on Wynn Resorts in a research note on Tuesday, October 20th. Wells Fargo & Company cut their target price on Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating for the company in a research note on Friday. Finally, Susquehanna reiterated a “positive” rating and set a $95.00 price target on shares of Wynn Resorts in a report on Friday. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $121.24.

Wynn Resorts Price Performance

WYNN opened at $83.11 on Friday. The company’s 50 day simple moving average is $80.68 and its two-hundred day simple moving average is $97.68. Wynn Resorts has a 1-year low of $70.79 and a 1-year high of $134.72. The firm has a market capitalization of $8.56 billion, a price-to-earnings ratio of 24.81, a price-to-earnings-growth ratio of 1.01 and a beta of 0.96.

Wynn Resorts (NASDAQ:WYNN) last issued its earnings results on Thursday, November 5th. The casino operator reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.19). The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.75 billion. Wynn Resorts had a negative return on equity of 43.01% and a net margin of 5.20%. The company’s revenue for the quarter was down 7.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.86 earnings per share. On average, equities analysts anticipate that Wynn Resorts will post 4.24 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 30th. Investors of record on Monday, November 16th will be issued a $0.25 dividend. The ex-dividend date is Monday, November 16th. This represents a $1.00 dividend on an annualized basis and a yield of 1.2%. Wynn Resorts’s dividend payout ratio is currently 29.85%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Aberdeen Group plc lifted its stake in shares of Wynn Resorts by 843.9% in the 3rd quarter. Aberdeen Group plc now owns 34,358 shares of the casino operator’s stock valued at $2,729,000 after purchasing an additional 30,718 shares during the last quarter. Legacy Trust grew its holdings in shares of Wynn Resorts by 1.1% during the 3rd quarter. Legacy Trust now owns 36,951 shares of the casino operator’s stock worth $2,759,000 after purchasing an additional 412 shares during the period. Russell Investments Group Ltd. grew its holdings in shares of Wynn Resorts by 53.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 50,874 shares of the casino operator’s stock worth $4,041,000 after purchasing an additional 17,686 shares during the period. Fifth Third Bancorp increased its position in shares of Wynn Resorts by 3.8% during the 3rd quarter. Fifth Third Bancorp now owns 7,326 shares of the casino operator’s stock worth $582,000 after purchasing an additional 269 shares during the last quarter. Finally, Keybank National Association OH increased its position in shares of Wynn Resorts by 5.7% during the 3rd quarter. Keybank National Association OH now owns 17,176 shares of the casino operator’s stock worth $1,364,000 after purchasing an additional 932 shares during the last quarter. 88.64% of the stock is currently owned by hedge funds and other institutional investors.

Wynn Resorts News Summary

Here are the key news stories impacting Wynn Resorts this week:

• Positive Sentiment: Wynn said its Al Marjan Island resort in the UAE remains on track for a September 2027 opening. Continued progress may support its longer-term growth outlook, though the project requires substantial additional equity funding. Article: Wynn outlines remaining Al Marjan equity
• Positive Sentiment: The company declared a quarterly cash dividend of $0.25 per share, payable November 30 to shareholders of record November 16. Article: Wynn Resorts declares quarterly cash dividend
• Neutral Sentiment: Several analysts lowered price targets after the results but maintained positive ratings. Deutsche Bank kept Buy at $116; Macquarie retained Outperform at $128; Barclays and Wells Fargo maintained Overweight at $120 and $122, respectively. Other target cuts included Jefferies to $132 and Mizuho to $129. The ratings remain supportive, but the reductions reflect a more cautious outlook. Article: Deutsche Bank adjusts Wynn Resorts price target
• Negative Sentiment: Third-quarter revenue fell 7.9% year over year to $1.69 billion, missing estimates, and EPS of $0.33 also came in below expectations and was down from $0.86 a year earlier. Softer Macau gaming, unfavorable Las Vegas hold and Boston labor disruptions weighed on results, with declines reported across all four operating segments. Article: Wynn Resorts Q3 earnings miss estimates
• Negative Sentiment: Wynn is maintaining its UAE opening timetable amid war-related uncertainty, while the project’s rising investment and remaining equity needs add funding and execution risk. Article: Wynn holds UAE casino date amid war

About Wynn Resorts

Wynn Resorts, Limited develops and operates luxury hotels and casino resorts. Its properties offer gaming, hotel accommodations, restaurants, retail, entertainment, and convention and meeting facilities.

The company’s portfolio includes Wynn Las Vegas and Encore in Nevada, Encore Boston Harbor in Massachusetts, and Wynn Macau and Wynn Palace in Macau. Its operations therefore span the United States and Macau, a special administrative region of China.

Founded in 2002, Wynn Resorts opened Wynn Las Vegas in 2005.