Wynn Resorts, Limited (NASDAQ:WYNN) Receives Consensus Rating of “Moderate Buy” from Brokerages

Wynn Resorts, Limited (NASDAQ:WYNN) has been given an average rating of “Moderate Buy” by the fifteen analysts that are currently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $115.71.

Several brokerages have commented on WYNN. StockNews.com lowered shares of Wynn Resorts from a “buy” rating to a “hold” rating in a report on Tuesday, September 17th. Barclays lowered their price target on shares of Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. JPMorgan Chase & Co. upped their price target on Wynn Resorts from $101.00 to $113.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lowered their price target on Wynn Resorts from $122.00 to $118.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Finally, Susquehanna raised their price objective on shares of Wynn Resorts from $92.00 to $122.00 and gave the company a “positive” rating in a research note on Friday, October 11th.

Wynn Resorts Stock Down 2.4 %

Shares of NASDAQ WYNN opened at $90.74 on Friday. The firm’s fifty day moving average is $92.12 and its 200 day moving average is $88.24. Wynn Resorts has a 52 week low of $71.63 and a 52 week high of $110.38. The company has a market cap of $9.97 billion, a price-to-earnings ratio of 11.19, a PEG ratio of 3.35 and a beta of 1.80.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Monday, November 4th. The casino operator reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). The business had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.73 billion. Wynn Resorts had a net margin of 13.37% and a negative return on equity of 61.16%. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.99 EPS. Equities research analysts anticipate that Wynn Resorts will post 4.87 earnings per share for the current year.

Wynn Resorts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.00 annualized dividend and a dividend yield of 1.10%. Wynn Resorts’s payout ratio is 12.33%.

Insider Activity at Wynn Resorts

In related news, Director Patricia Mulroy sold 2,650 shares of Wynn Resorts stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $78.73, for a total value of $208,634.50. Following the completion of the transaction, the director now owns 5,689 shares in the company, valued at approximately $447,894.97. This trade represents a 31.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.52% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Wynn Resorts

Institutional investors and hedge funds have recently modified their holdings of the stock. State Board of Administration of Florida Retirement System increased its stake in Wynn Resorts by 16.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 116,130 shares of the casino operator’s stock worth $12,996,000 after purchasing an additional 16,448 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Wynn Resorts by 24.9% during the 1st 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 in the last quarter. Kingsview Wealth Management LLC purchased a new position in shares of Wynn Resorts during the first quarter valued at $235,000. Vanguard Group Inc. raised its holdings in shares of Wynn Resorts by 1.5% in the first quarter. Vanguard Group Inc. now owns 11,028,618 shares of the casino operator’s stock valued at $1,127,456,000 after acquiring an additional 166,594 shares in the last quarter. Finally, Covestor Ltd grew its holdings in Wynn Resorts by 421.7% during the 1st quarter. Covestor Ltd now owns 626 shares of the casino operator’s stock worth $64,000 after acquiring an additional 506 shares in the last quarter. Hedge funds and other institutional investors own 68.87% of the company’s stock.

About Wynn Resorts

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.