Wynn Resorts, Limited

(NASDAQ Global Select)
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Bullish +65

Public Employees Retirement System of Ohio Acquires Shares of 22,246 Wynn Resorts, Limited $WYNN - MarketBeat

AI-generated analysis

πŸ“ˆ Public Employees Retirement System of Ohio acquired 22,246 shares of Wynn Resorts worth approximately $2.16 million during the second quarter.

πŸ’° Wynn Resorts reported quarterly EPS of $1.24, beating the consensus estimate of $0.99 by $0.25.

πŸ“ˆ Revenue rose 6.9% year over year to $1.86 billion, exceeding analyst expectations of $1.83 billion.

πŸ’Έ The company declared a quarterly dividend of $0.25 per share, implying an annualized yield of 1.1%.

πŸ“Š Analysts maintain a 'Moderate Buy' consensus with an average price target of $133.82.

πŸ“‰ Shares opened at $91.54, trading near the lower end of their 52-week range between $89.44 and $134.72.

🏦 Institutional investors collectively own 88.64% of Wynn Resorts' outstanding stock.

πŸ“‰ Bank of America cut its price target from $150.00 to $140.00 while maintaining a 'buy' rating.

πŸ“‰ Wells Fargo reduced its price target from $141.00 to $131.00 with an 'overweight' rating.

πŸ”„ Zacks Research upgraded Wynn Resorts from a 'strong sell' to a 'hold' rating recently.

Bullish Signals
  • Public Employees Retirement System of Ohio acquired 22,246 shares worth approximately $2.16 million, indicating strong institutional confidence.
  • The company reported quarterly EPS of $1.24, beating the consensus estimate of $0.99 by $0.25.
  • Revenue rose 6.9% year over year to $1.86 billion, surpassing analyst expectations of $1.83 billion.
  • Wynn Resorts declared a quarterly dividend of $0.25 per share, implying an attractive annualized yield of 1.1%.
  • Analysts maintain a 'Moderate Buy' consensus with an average price target of $133.82, suggesting significant upside from current levels.
Risk Factors
  • Bank of America recently cut its price target on Wynn Resorts from $150.00 to $140.00.
  • Wells Fargo reduced its price target from $141.00 to $131.00, though it maintained an 'overweight' rating.
  • The stock is currently trading near the lower end of its 52-week range at $91.54, below both its 50-day and 200-day moving averages.
Full Analysis
Public Employees Retirement System of Ohio increased its stake in Wynn Resorts, Limited (NASDAQ:WYNN) by purchasing 22,246 shares valued at approximately $2.16 million during the second quarter. This acquisition adds to a broader trend where institutional investors collectively own 88.64% of the company's outstanding stock, signaling continued confidence from major financial entities in the luxury casino operator. Wynn Resorts reported strong quarterly financial performance with earnings per share (EPS) of $1.24, which beat the consensus estimate of $0.99. The company also saw revenue rise 6.9% year over year to $1.86 billion, surpassing analyst expectations of $1.83 billion. Additionally, the firm declared a quarterly dividend of $0.25 per share, implying an annualized yield of 1.1% for investors. Analyst sentiment remains cautiously positive with a consensus rating of 'Moderate Buy' and an average price target of $133.82, significantly higher than the recent trading price near $91.54. While some major banks like Bank of America and Wells Fargo have recently lowered their specific price targets, the overall analyst coverage includes multiple 'Buy' ratings, suggesting a potential upside opportunity as the stock trades near its 52-week low. The article notes that despite Wynn's current metrics, it was not included in MarketBeat's list of five alternative stocks preferred by top analysts. The company operates luxury resorts and casinos globally, with a market capitalization of $9.43 billion and a PE ratio of 22.71, positioning it as a key player in the hospitality sector.