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

Shares of Wynn Resorts, Limited (NASDAQ:WYNN) have received a consensus recommendation of “Moderate Buy” from the fourteen analysts that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $113.18.

A number of analysts recently issued reports on the company. Morgan Stanley dropped their price objective on Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating on the stock in a report on Monday, February 24th. Bank of America raised Wynn Resorts from a “neutral” rating to a “buy” rating and set a $100.00 price objective on the stock in a report on Wednesday, May 7th. Stifel Nicolaus set a $113.00 price objective on Wynn Resorts in a report on Wednesday, May 7th. Citigroup raised Wynn Resorts from a “neutral” rating to a “buy” rating in a report on Wednesday, May 7th. Finally, Macquarie reissued an “outperform” rating and set a $115.00 price objective on shares of Wynn Resorts in a report on Friday, February 14th.

Wynn Resorts Stock Down 1.8%

Shares of NASDAQ:WYNN opened at $86.14 on Thursday. The stock has a market cap of $9.01 billion, a price-to-earnings ratio of 20.46, a PEG ratio of 2.35 and a beta of 1.33. Wynn Resorts has a 12-month low of $65.25 and a 12-month high of $107.81. The business’s 50 day moving average is $82.99 and its 200 day moving average is $85.89.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data on Tuesday, May 6th. The casino operator reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.24 by ($0.17). Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. The business had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same period in the prior year, the firm posted $1.59 EPS. The firm’s revenue for the quarter was down 8.7% on a year-over-year basis. As a group, equities research analysts expect that Wynn Resorts will post 5.17 earnings per share for the current year.

Wynn Resorts Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend was Friday, May 16th. Wynn Resorts’s dividend payout ratio (DPR) is currently 27.78%.

Insiders Place Their Bets

In other news, major shareholder Tilman J. Fertitta bought 300,000 shares of the stock in a transaction dated Friday, April 4th. The stock was bought at an average price of $70.37 per share, for a total transaction of $21,111,000.00. Following the purchase, the insider now directly owns 12,900,000 shares in the company, valued at $907,773,000. This trade represents a 2.38% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Patricia Mulroy sold 2,262 shares of the firm’s stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $92.12, for a total value of $208,375.44. Following the completion of the transaction, the director now owns 3,066 shares of the company’s stock, valued at approximately $282,439.92. The trade was a 42.45% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 416,500 shares of company stock worth $29,254,547. 0.52% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Strs Ohio bought a new position in Wynn Resorts during the 1st quarter valued at approximately $7,515,000. Geneos Wealth Management Inc. increased its holdings in shares of Wynn Resorts by 69.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 382 shares of the casino operator’s stock worth $32,000 after purchasing an additional 156 shares in the last quarter. Glenview Trust co increased its holdings in shares of Wynn Resorts by 3.2% in the 1st quarter. Glenview Trust co now owns 23,665 shares of the casino operator’s stock worth $1,976,000 after purchasing an additional 725 shares in the last quarter. Ilmarinen Mutual Pension Insurance Co bought a new stake in shares of Wynn Resorts in the 1st quarter worth $1,253,000. Finally, Bayforest Capital Ltd bought a new stake in shares of Wynn Resorts in the 1st quarter worth $365,000. Institutional investors own 88.64% 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.