Wynn Resorts (NASDAQ:WYNN) Sets New 1-Year Low – Should You Sell?

Wynn Resorts, Limited (NASDAQ:WYNN) shares hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $88.37 and last traded at $88.81, with a volume of 256247 shares changing hands. The stock had previously closed at $90.23.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on WYNN. Citigroup reissued a “buy” rating on shares of Wynn Resorts in a report on Thursday, August 6th. The Goldman Sachs Group set a $120.00 target price on Wynn Resorts in a research report on Wednesday, July 15th. Mizuho decreased their price target on shares of Wynn Resorts from $133.00 to $125.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 28th. Argus boosted their price target on shares of Wynn Resorts from $115.00 to $130.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Finally, Barclays increased their price objective on shares of Wynn Resorts from $134.00 to $136.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $133.82.

Wynn Resorts Stock Performance

The stock has a 50-day moving average of $97.53 and a 200 day moving average of $101.05. The firm has a market capitalization of $9.17 billion, a P/E ratio of 22.09, a price-to-earnings-growth ratio of 1.11 and a beta of 1.00.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Tuesday, August 4th. The casino operator reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.25. The company had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.83 billion. Wynn Resorts had a negative return on equity of 46.52% and a net margin of 6.05%.Wynn Resorts’s revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.09 EPS. On average, equities analysts predict that Wynn Resorts, Limited will post 4.55 EPS for the current year.

Wynn Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.1%. Wynn Resorts’s dividend payout ratio is currently 24.81%.

Institutional Investors Weigh In On Wynn Resorts

Institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Wynn Resorts by 10.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,961 shares of the casino operator’s stock valued at $665,000 after purchasing an additional 754 shares during the period. Woodline Partners LP boosted its position in shares of Wynn Resorts by 36.2% during the first quarter. Woodline Partners LP now owns 7,568 shares of the casino operator’s stock worth $632,000 after buying an additional 2,012 shares during the period. Geneos Wealth Management Inc. grew its holdings in shares of Wynn Resorts by 69.0% during the first quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator’s stock worth $32,000 after buying an additional 156 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Wynn Resorts by 13.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,659 shares of the casino operator’s stock worth $155,000 after buying an additional 201 shares in the last quarter. Finally, Guggenheim Capital LLC raised its position in Wynn Resorts by 9.5% in the 2nd quarter. Guggenheim Capital LLC now owns 10,008 shares of the casino operator’s stock valued at $937,000 after buying an additional 868 shares during the last quarter. 88.64% of the stock is owned by institutional investors.

Wynn Resorts Company Profile

Wynn Resorts, Limited (NASDAQ: WYNN) is a global developer and operator of luxury resorts and casinos, renowned for its premium hospitality offerings and integrated entertainment experiences. The company specializes in high-end hotel accommodations, gaming operations, fine dining restaurants, retail outlets, meeting and convention spaces, and live entertainment venues. Its properties are designed to cater to both leisure and business travelers seeking upscale environments and world-class service.

Founded in 2002 by hospitality entrepreneur Steve Wynn, the company opened its flagship property, Wynn Las Vegas, on the Las Vegas Strip in 2005, followed by Encore Las Vegas in 2008.