Wynn Resorts (WYNN) Sets New 52-Week Low at $112.83

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Wynn Resorts, Limited (NASDAQ:WYNN)’s share price hit a new 52-week low on Friday . The stock traded as low as $112.83 and last traded at $111.73, with a volume of 71215 shares trading hands. The stock had previously closed at $113.87.

Several equities analysts have weighed in on the company. BidaskClub cut Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Wednesday, June 27th. Nomura dropped their price objective on Wynn Resorts from $220.00 to $181.00 and set a “buy” rating on the stock in a research note on Monday, July 9th. Jefferies Financial Group dropped their price objective on Wynn Resorts from $230.00 to $229.00 and set a “buy” rating on the stock in a research note on Friday, June 29th. Morgan Stanley dropped 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. Finally, ValuEngine cut Wynn Resorts from a “hold” rating to a “sell” rating in a research note on Wednesday, August 15th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $187.00.

The stock has a market cap of $12.85 billion, a PE ratio of 21.09, a price-to-earnings-growth ratio of 0.80 and a beta of 1.41. The company has a quick ratio of 1.04, a current ratio of 1.08 and a debt-to-equity ratio of 4.47.

Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Wednesday, August 1st. The casino operator reported $1.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.96 by ($0.43). Wynn Resorts had a net margin of 7.90% and a return on equity of 69.17%. The business had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same period in the prior year, the business earned $1.18 earnings per share. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. As a group, analysts predict that Wynn Resorts, Limited will post 7.35 EPS for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. increased its holdings in Wynn Resorts by 12.6% in the 2nd quarter. BlackRock Inc. now owns 5,723,598 shares of the casino operator’s stock worth $957,788,000 after acquiring an additional 641,845 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Wynn Resorts by 15.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,010,495 shares of the casino operator’s stock worth $169,096,000 after acquiring an additional 136,113 shares during the last quarter. Northern Trust Corp increased its holdings in Wynn Resorts by 7.8% in the 2nd quarter. Northern Trust Corp now owns 1,005,497 shares of the casino operator’s stock worth $168,260,000 after acquiring an additional 73,166 shares during the last quarter. Putnam Investments LLC increased its holdings in Wynn Resorts by 34.9% in the 2nd quarter. Putnam Investments LLC now owns 761,801 shares of the casino operator’s stock worth $127,480,000 after acquiring an additional 197,228 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Wynn Resorts by 8.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 735,421 shares of the casino operator’s stock worth $123,065,000 after acquiring an additional 58,243 shares during the last quarter. 75.36% of the stock is owned by institutional investors.

Wynn Resorts Company Profile (NASDAQ:WYNN)

Wynn Resorts, Limited develops, 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 a total of 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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