Wynn Resorts (NASDAQ:WYNN) Price Target Cut to $134.00 by Analysts at JPMorgan Chase & Co.

Wynn Resorts (NASDAQ:WYNN) had its price target reduced by JPMorgan Chase & Co. from $135.00 to $134.00 in a research report report published on Wednesday,Benzinga reports. They currently have an overweight rating on the casino operator’s stock.

Several other research firms also recently weighed in on WYNN. Susquehanna dropped their price target on Wynn Resorts from $133.00 to $127.00 and set a “positive” rating for the company in a research note on Thursday, April 16th. Citigroup reduced their price objective on shares of Wynn Resorts from $145.00 to $132.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $137.00 target price on shares of Wynn Resorts in a report on Friday, May 8th. Zacks Research lowered shares of Wynn Resorts from a “hold” rating to a “strong sell” rating in a research report on Friday, July 10th. Finally, Wells Fargo & Company cut their target price on shares of Wynn Resorts from $142.00 to $141.00 and set an “overweight” rating for the company in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $136.88.

Wynn Resorts Stock Performance

Shares of WYNN stock opened at $97.05 on Wednesday. The stock has a fifty day simple moving average of $100.61 and a two-hundred day simple moving average of $106.11. The firm has a market capitalization of $10.07 billion, a PE ratio of 28.97, a PEG ratio of 0.89 and a beta of 0.99. Wynn Resorts has a 52-week low of $93.15 and a 52-week high of $134.72.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Thursday, May 7th. The casino operator reported $1.25 EPS for the quarter, beating the consensus estimate of $1.18 by $0.07. Wynn Resorts had a negative return on equity of 42.03% and a net margin of 5.14%.The business had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the previous year, the business earned $1.07 earnings per share. The business’s revenue was up 9.2% on a year-over-year basis. On average, sell-side analysts forecast that Wynn Resorts will post 4.61 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 18th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.0%. Wynn Resorts’s dividend payout ratio (DPR) is presently 29.85%.

Institutional Investors Weigh In On Wynn Resorts

Several large investors have recently added to or reduced their stakes in the stock. Hantz Financial Services Inc. increased its position in shares of Wynn Resorts by 54.9% during the 4th quarter. Hantz Financial Services Inc. now owns 251 shares of the casino operator’s stock valued at $30,000 after purchasing an additional 89 shares during the last quarter. Cromwell Holdings LLC boosted its stake in Wynn Resorts by 68.2% during the fourth quarter. Cromwell Holdings LLC now owns 254 shares of the casino operator’s stock worth $31,000 after buying an additional 103 shares during the period. MUFG Securities EMEA plc bought a new position in Wynn Resorts during the second quarter valued at $25,000. SHP Wealth Management bought a new position in Wynn Resorts during the fourth quarter valued at $32,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of Wynn Resorts in the fourth quarter valued at $34,000. 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.