Wynn Resorts, Limited (NASDAQ:WYNN) Given Consensus Recommendation of “Buy” by Analysts

Wynn Resorts, Limited (NASDAQ:WYNN) has received a consensus recommendation of “Buy” from the fourteen ratings firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $119.58.

Several equities research analysts recently weighed in on WYNN shares. Mizuho increased their target price on Wynn Resorts from $118.00 to $132.00 and gave the company an “outperform” rating in a report on Friday, February 14th. Macquarie reaffirmed an “outperform” rating and set a $115.00 price objective on shares of Wynn Resorts in a research note on Friday, February 14th. Barclays raised their target price on Wynn Resorts from $115.00 to $116.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Jefferies Financial Group upgraded Wynn Resorts from a “hold” rating to a “buy” rating and increased their price objective for the stock from $105.00 to $118.00 in a report on Tuesday, February 18th. Finally, Morgan Stanley reduced their target price on Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating on the stock in a research note on Monday, February 24th.

Insider Buying and Selling at Wynn Resorts

In related news, major shareholder Tilman J. Fertitta purchased 100,000 shares of the stock in a transaction dated Monday, April 7th. The stock was purchased at an average price of $67.62 per share, with a total value of $6,762,000.00. Following the transaction, the insider now directly owns 13,000,000 shares in the company, valued at $879,060,000. This trade represents a 0.78 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Philip G. Satre acquired 22,200 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were purchased at an average cost of $92.18 per share, for a total transaction of $2,046,396.00. Following the completion of the transaction, the director now directly owns 34,195 shares in the company, valued at $3,152,095.10. The trade was a 185.08 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 438,700 shares of company stock valued at $31,300,943. Corporate insiders own 0.52% of the company’s stock.

Institutional Trading of Wynn Resorts

Several institutional investors have recently added to or reduced their stakes in WYNN. New Wave Wealth Advisors LLC bought a new stake in Wynn Resorts in the 4th quarter worth about $26,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Wynn Resorts in the third quarter worth approximately $31,000. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Wynn Resorts by 3,408.3% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 421 shares of the casino operator’s stock valued at $35,000 after purchasing an additional 409 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in Wynn Resorts during the fourth quarter valued at approximately $36,000. Finally, Spire Wealth Management boosted its holdings in Wynn Resorts by 116.4% in the fourth quarter. Spire Wealth Management now owns 435 shares of the casino operator’s stock worth $37,000 after purchasing an additional 234 shares during the last quarter. 88.64% of the stock is currently owned by hedge funds and other institutional investors.

Wynn Resorts Trading Up 1.8 %

Shares of Wynn Resorts stock opened at $74.90 on Wednesday. The business’s 50-day moving average price is $82.99 and its 200-day moving average price is $88.40. The firm has a market capitalization of $7.95 billion, a PE ratio of 17.79, a price-to-earnings-growth ratio of 2.35 and a beta of 1.53. Wynn Resorts has a 12 month low of $65.25 and a 12 month high of $107.81.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Thursday, February 13th. The casino operator reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $1.15. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. The firm had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.78 billion. As a group, analysts predict that Wynn Resorts will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend was Monday, February 24th. Wynn Resorts’s payout ratio is currently 23.75%.

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.