Wynn Resorts’ (WYNN) Neutral Rating Reiterated at UBS Group

UBS Group restated their neutral rating on shares of Wynn Resorts (NASDAQ:WYNN) in a report published on Tuesday morning, MarketBeat Ratings reports. UBS Group currently has a $101.00 price target on the casino operator’s stock, up from their prior price target of $83.00.

Several other research firms also recently commented on WYNN. Barclays cut their price objective on Wynn Resorts from $116.00 to $99.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. Wall Street Zen downgraded Wynn Resorts from a “buy” rating to a “hold” rating in a report on Wednesday, March 12th. Bank of America raised Wynn Resorts from a “neutral” rating to a “buy” rating and set a $100.00 price target for the company in a report on Wednesday, May 7th. The Goldman Sachs Group began coverage on Wynn Resorts in a report on Monday. They set a “buy” rating and a $122.00 price target for the company. Finally, Mizuho cut their price target on Wynn Resorts from $132.00 to $122.00 and set an “outperform” rating for the company in a report on Thursday, May 8th. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $112.71.

Wynn Resorts Stock Up 1.7%

Shares of WYNN opened at $111.93 on Tuesday. The stock has a market capitalization of $11.70 billion, a P/E ratio of 31.09, a P/E/G ratio of 3.18 and a beta of 1.37. Wynn Resorts has a twelve month low of $65.25 and a twelve month high of $112.36. The company has a 50 day moving average of $92.37 and a 200-day moving average of $86.20.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings data on Tuesday, May 6th. The casino operator reported $1.07 EPS for the quarter, missing the consensus estimate of $1.24 by ($0.17). The company had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.74 billion. Wynn Resorts had a net margin of 6.17% and a negative return on equity of 62.13%. The company’s quarterly revenue was down 8.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.59 EPS. On average, sell-side analysts anticipate that Wynn Resorts will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend was Friday, May 16th. Wynn Resorts’s payout ratio is 27.78%.

Insiders Place Their Bets

In other Wynn Resorts news, Director Patricia Mulroy sold 2,262 shares of the business’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 transaction of $208,375.44. Following the sale, the director directly owned 3,066 shares of the company’s stock, valued at $282,439.92. The trade was a 42.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.52% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. State of Tennessee Department of Treasury lifted its position in shares of Wynn Resorts by 73.0% during the 4th quarter. State of Tennessee Department of Treasury now owns 23,791 shares of the casino operator’s stock valued at $2,050,000 after acquiring an additional 10,041 shares during the period. BI Asset Management Fondsmaeglerselskab A S raised its holdings in Wynn Resorts by 190.9% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 19,798 shares of the casino operator’s stock worth $1,706,000 after buying an additional 12,993 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in Wynn Resorts during the fourth quarter worth $2,296,000. Brandywine Global Investment Management LLC acquired a new position in Wynn Resorts during the fourth quarter worth $5,216,000. Finally, Alliancebernstein L.P. raised its holdings in Wynn Resorts by 12.4% during the fourth quarter. Alliancebernstein L.P. now owns 122,760 shares of the casino operator’s stock worth $10,577,000 after buying an additional 13,553 shares during the last quarter. Institutional investors and hedge funds 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.