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

Shares of Wynn Resorts, Limited (NASDAQ:WYNN) have been assigned an average recommendation of “Moderate Buy” from the sixteen ratings firms that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and fourteen have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $127.3333.

A number of research analysts have issued reports on WYNN shares. JPMorgan Chase & Co. started coverage on Wynn Resorts in a research note on Monday, June 23rd. They issued an “overweight” rating and a $109.00 target price for the company. Barclays boosted their target price on Wynn Resorts from $101.00 to $127.00 and gave the company an “overweight” rating in a research note on Friday, July 18th. Stifel Nicolaus boosted their target price on Wynn Resorts from $130.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday, September 18th. Weiss Ratings reissued a “hold (c)” rating on shares of Wynn Resorts in a research note on Saturday, September 27th. Finally, Jefferies Financial Group boosted their price target on Wynn Resorts from $130.00 to $133.00 and gave the company a “buy” rating in a report on Monday, August 11th.

Insider Activity at Wynn Resorts

In other news, Director Patricia Mulroy sold 4,438 shares of the business’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 sale, the director directly owned 3,066 shares in the company, valued at $383,250. The trade was a 59.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.52% of the stock is currently owned by company insiders.

Institutional Trading of Wynn Resorts

Institutional investors have recently modified their holdings of the company. Dagco Inc. bought a new stake in Wynn Resorts during the first quarter worth about $25,000. AlphaQuest LLC bought a new stake in Wynn Resorts during the first quarter worth about $25,000. MUFG Securities EMEA plc bought a new stake in Wynn Resorts during the second quarter worth about $25,000. Global X Japan Co. Ltd. raised its holdings in Wynn Resorts by 120.7% during the first quarter. Global X Japan Co. Ltd. now owns 320 shares of the casino operator’s stock worth $27,000 after acquiring an additional 175 shares in the last quarter. Finally, Manchester Capital Management LLC raised its holdings in Wynn Resorts by 1,500.0% during the second quarter. Manchester Capital Management LLC now owns 320 shares of the casino operator’s stock worth $30,000 after acquiring an additional 300 shares in the last quarter. 88.64% of the stock is currently owned by institutional investors.

Wynn Resorts Trading Down 1.3%

WYNN stock opened at $122.91 on Wednesday. Wynn Resorts has a 1-year low of $65.25 and a 1-year high of $134.23. The firm has a market cap of $12.78 billion, a PE ratio of 36.91, a P/E/G ratio of 6.24 and a beta of 1.31. The business’s 50-day moving average price is $119.56 and its two-hundred day moving average price is $100.14.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Thursday, August 7th. The casino operator reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.11). Wynn Resorts had a net margin of 5.51% and a negative return on equity of 56.78%. The business had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same period in the previous year, the firm posted $1.12 earnings per share. The firm’s revenue was up .6% on a year-over-year basis. On average, analysts forecast that Wynn Resorts will post 5.17 earnings per share for the current year.

Wynn Resorts Announces Dividend

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

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.