Wynn Resorts’ (WYNN) “Hold (C+)” Rating Reaffirmed at Weiss Ratings

Weiss Ratings reissued their hold (c+) rating on shares of Wynn Resorts (NASDAQ:WYNN) in a research note issued to investors on Tuesday,Weiss Ratings reports.

A number of other equities analysts have also recently weighed in on WYNN. Macquarie boosted 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. Jefferies Financial Group upped their target price on shares of Wynn Resorts from $130.00 to $133.00 and gave the company a “buy” rating in a report on Monday, August 11th. The Goldman Sachs Group upped their target price on shares of Wynn Resorts from $124.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, October 1st. Stifel Nicolaus upped their target price on shares of Wynn Resorts from $130.00 to $145.00 and gave the company a “buy” rating in a report on Thursday, September 18th. Finally, Citigroup restated a “neutral” rating and issued a $114.00 target price (up from $108.00) on shares of Wynn Resorts in a report on Wednesday, July 9th. Thirteen analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Wynn Resorts currently has a consensus rating of “Moderate Buy” and an average price target of $127.71.

Wynn Resorts Stock Performance

Wynn Resorts stock opened at $116.11 on Tuesday. The firm has a market capitalization of $12.07 billion, a price-to-earnings ratio of 34.87, a price-to-earnings-growth ratio of 5.81 and a beta of 1.31. Wynn Resorts has a fifty-two week low of $65.25 and a fifty-two week high of $134.23. The stock’s fifty day moving average is $120.61 and its two-hundred day moving average is $101.31.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Thursday, August 7th. The casino operator reported $1.09 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same period last year, the company posted $1.12 EPS. The firm’s revenue for the quarter was up .6% on a year-over-year basis. As a group, sell-side analysts forecast that Wynn Resorts will post 5.17 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Monday, August 18th. Wynn Resorts’s dividend payout ratio is presently 30.03%.

Insider Activity at Wynn Resorts

In other news, Director Patricia Mulroy sold 4,438 shares of the company’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $125.00, for a total transaction of $554,750.00. Following the completion of the sale, the director directly owned 3,066 shares in the company, valued at $383,250. This represents a 59.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.52% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Wynn Resorts

Hedge funds and other institutional investors have recently made changes to their positions in the business. Resolute Capital Asset Partners LLC acquired a new position in shares of Wynn Resorts during the 1st quarter valued at $3,758,000. Oppenheimer & Co. Inc. acquired a new position in shares of Wynn Resorts during the 1st quarter valued at $1,690,000. Oak Harvest Investment Services lifted its holdings in shares of Wynn Resorts by 20.8% during the 1st quarter. Oak Harvest Investment Services now owns 32,058 shares of the casino operator’s stock valued at $2,677,000 after acquiring an additional 5,511 shares in the last quarter. Strs Ohio acquired a new position in shares of Wynn Resorts during the 1st quarter valued at $7,515,000. Finally, Achmea Investment Management B.V. lifted its holdings in shares of Wynn Resorts by 41.1% during the 1st quarter. Achmea Investment Management B.V. now owns 12,400 shares of the casino operator’s stock valued at $1,036,000 after acquiring an additional 3,612 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.