Wynn Resorts (NASDAQ:WYNN) Upgraded at Zacks Research

Zacks Research upgraded shares of Wynn Resorts (NASDAQ:WYNN) from a hold rating to a strong-buy rating in a report published on Monday,Zacks.com reports.

A number of other research firms also recently commented on WYNN. Jefferies Financial Group boosted their target price on Wynn Resorts from $130.00 to $133.00 and gave the stock a “buy” rating in a research report on Monday, August 11th. UBS Group raised shares of Wynn Resorts from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $101.00 to $147.00 in a research report on Thursday, August 28th. The Goldman Sachs Group upped their price objective on shares of Wynn Resorts from $124.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, October 1st. Argus upgraded shares of Wynn Resorts from a “hold” rating to a “buy” rating and set a $145.00 price target on the stock in a report on Wednesday, September 3rd. Finally, Stifel Nicolaus lifted their price target on shares of Wynn Resorts from $130.00 to $145.00 and gave the company a “buy” rating in a research report on Thursday, September 18th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $129.64.

Wynn Resorts Stock Up 0.0%

NASDAQ WYNN opened at $120.87 on Monday. Wynn Resorts has a 52-week low of $65.25 and a 52-week high of $134.23. The business’s 50-day moving average price is $123.12 and its 200 day moving average price is $105.12. The firm has a market cap of $12.57 billion, a P/E ratio of 36.30, a P/E/G ratio of 4.94 and a beta of 1.31.

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

Wynn Resorts Announces Dividend

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

Insider Buying and Selling at Wynn Resorts

In other Wynn Resorts 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 completion of the sale, the director owned 3,066 shares of the company’s stock, valued at $383,250. The trade was a 59.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.52% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Wynn Resorts

Several large investors have recently bought and sold shares of the stock. Norges Bank acquired a new stake in Wynn Resorts during the second quarter worth about $106,289,000. Palidye Holdings Caymans Ltd acquired a new position in shares of Wynn Resorts in the 2nd quarter worth approximately $104,629,000. Thrivent Financial for Lutherans boosted its stake in shares of Wynn Resorts by 6,391.3% in the 2nd quarter. Thrivent Financial for Lutherans now owns 748,769 shares of the casino operator’s stock valued at $70,138,000 after purchasing an additional 737,234 shares in the last quarter. DAVENPORT & Co LLC acquired a new stake in shares of Wynn Resorts in the 1st quarter valued at $49,476,000. Finally, Greenwich Wealth Management LLC acquired a new stake in shares of Wynn Resorts during the second quarter worth approximately $46,845,000. 88.64% of the stock is currently owned by institutional investors and hedge funds.

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.