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

Wynn Resorts, Limited (NASDAQ:WYNN) has been given an average rating of “Moderate Buy” by the fifteen brokerages that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and fourteen have given a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $124.4667.

Several brokerages have recently issued reports on WYNN. Jefferies Financial Group boosted their price objective on Wynn Resorts from $130.00 to $133.00 and gave the company a “buy” rating in a report on Monday, August 11th. Barclays upped their price target on Wynn Resorts from $101.00 to $127.00 and gave the stock an “overweight” rating in a report on Friday, July 18th. Macquarie upped their price target on Wynn Resorts from $110.00 to $124.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. Stifel Nicolaus upped their price target on Wynn Resorts from $113.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, August 8th. Finally, Morgan Stanley upped their price target on Wynn Resorts from $113.00 to $128.00 and gave the stock an “overweight” rating in a report on Thursday.

Wynn Resorts Stock Down 1.9%

Shares of WYNN stock opened at $121.45 on Friday. The stock has a market cap of $12.63 billion, a PE ratio of 36.47, a price-to-earnings-growth ratio of 6.37 and a beta of 1.37. The business has a 50-day simple moving average of $113.64 and a 200-day simple moving average of $95.37. Wynn Resorts has a 52-week low of $65.25 and a 52-week high of $128.53.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Thursday, August 7th. The casino operator reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.11). The company had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.74 billion. Wynn Resorts had a net margin of 5.51% and a negative return on equity of 56.78%. The business’s quarterly revenue was up .6% compared to the same quarter last year. During the same period last year, the firm earned $1.12 EPS. Sell-side analysts anticipate that Wynn Resorts will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $1.00 dividend on an annualized basis and a yield of 0.8%. Wynn Resorts’s dividend payout ratio is presently 30.03%.

Insiders Place Their Bets

In related news, Director Patricia Mulroy sold 4,438 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $125.00, for a total value of $554,750.00. Following the completion of the transaction, the director owned 3,066 shares of the company’s stock, valued at approximately $383,250. This represents a 59.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On Wynn Resorts

Hedge funds have recently made changes to their positions in the company. Barrow Hanley Mewhinney & Strauss LLC grew its position in shares of Wynn Resorts by 18.4% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,125,668 shares of the casino operator’s stock valued at $269,308,000 after purchasing an additional 485,204 shares in the last quarter. Bamco Inc. NY grew its position in shares of Wynn Resorts by 56.5% in the second quarter. Bamco Inc. NY now owns 1,337,236 shares of the casino operator’s stock valued at $125,259,000 after purchasing an additional 482,570 shares in the last quarter. Norges Bank purchased a new stake in shares of Wynn Resorts in the second quarter valued at approximately $106,289,000. Palidye Holdings Caymans Ltd purchased a new stake in shares of Wynn Resorts in the second quarter valued at approximately $104,629,000. Finally, Regal Partners Ltd grew its position in shares of Wynn Resorts by 21.5% in the first quarter. Regal Partners Ltd now owns 1,091,578 shares of the casino operator’s stock valued at $91,147,000 after purchasing an additional 192,873 shares in the last quarter. Institutional investors and hedge funds own 88.64% of the company’s stock.

Wynn Resorts Company Profile

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.