Barclays Boosts Wynn Resorts (NASDAQ:WYNN) Price Target to $128.00

Wynn Resorts (NASDAQ:WYNNFree Report) had its price target lifted by Barclays from $124.00 to $128.00 in a research report report published on Thursday, Benzinga reports. The firm currently has an overweight rating on the casino operator’s stock.

WYNN has been the subject of several other reports. Citigroup raised their target price on Wynn Resorts from $132.00 to $138.00 and gave the company a buy rating in a research note on Wednesday. Stifel Nicolaus upped their target price on Wynn Resorts from $135.00 to $138.00 and gave the stock a buy rating in a research report on Wednesday. Mizuho initiated coverage on Wynn Resorts in a report on Thursday, April 4th. They issued a buy rating and a $131.00 target price on the stock. Susquehanna boosted their price target on shares of Wynn Resorts from $105.00 to $115.00 and gave the company a positive rating in a research note on Thursday, February 8th. Finally, UBS Group reduced their price objective on shares of Wynn Resorts from $117.00 to $108.00 and set a neutral rating for the company in a report on Tuesday, February 6th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Wynn Resorts presently has an average rating of Moderate Buy and an average target price of $121.62.

View Our Latest Stock Report on Wynn Resorts

Wynn Resorts Stock Performance

Shares of WYNN opened at $96.39 on Thursday. The firm has a market cap of $10.80 billion, a PE ratio of 13.20 and a beta of 1.91. Wynn Resorts has a 52-week low of $81.65 and a 52-week high of $112.25. The business’s 50 day moving average price is $99.98 and its two-hundred day moving average price is $95.47.

Wynn Resorts (NASDAQ:WYNNGet Free Report) last released its earnings results on Tuesday, May 7th. The casino operator reported $1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.16. The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.80 billion. Wynn Resorts had a net margin of 12.36% and a negative return on equity of 46.04%. Wynn Resorts’s quarterly revenue was up 30.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.29 EPS. Research analysts predict that Wynn Resorts will post 5.58 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Monday, May 20th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, May 17th. This represents a $1.00 annualized dividend and a dividend yield of 1.04%. Wynn Resorts’s dividend payout ratio is currently 13.70%.

Hedge Funds Weigh In On Wynn Resorts

Institutional investors have recently modified their holdings of the business. Covestor Ltd lifted its holdings in Wynn Resorts by 421.7% during the first quarter. Covestor Ltd now owns 626 shares of the casino operator’s stock worth $64,000 after acquiring an additional 506 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Wynn Resorts by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 11,028,618 shares of the casino operator’s stock worth $1,127,456,000 after buying an additional 166,594 shares during the last quarter. Kingsview Wealth Management LLC bought a new position in Wynn Resorts during the first quarter valued at about $235,000. JBR Co Financial Management Inc bought a new position in Wynn Resorts during the first quarter valued at about $204,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Wynn Resorts by 24.9% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 120,087 shares of the casino operator’s stock worth $12,276,000 after buying an additional 23,919 shares during the last quarter. 68.87% of the stock is owned by institutional investors.

About Wynn Resorts

(Get Free Report)

Wynn Resorts, Limited designs, develops, and operates integrated resorts. The company operates through four segments: Wynn Palace, Wynn Macau, Las Vegas Operations, and Encore Boston Harbor. The Wynn Palace segment operates private gaming salons and sky casinos; a luxury hotel tower with suites, and villas, including a health club, spa, salon, and pool; food and beverage outlets; retail space; meeting and convention space; and performance lake and floral art displays.

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Analyst Recommendations for Wynn Resorts (NASDAQ:WYNN)

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