Wynn Resorts (NASDAQ:WYNN) Coverage Initiated by Analysts at Wells Fargo & Company

Wells Fargo & Company began coverage on shares of Wynn Resorts (NASDAQ:WYNN) in a report released on Tuesday, Marketbeat Ratings reports. The brokerage issued an overweight rating and a $151.00 price target on the casino operator’s stock.

A number of other research analysts have also recently issued reports on the company. Mizuho lifted their price objective on Wynn Resorts from $126.00 to $131.00 and gave the company an “outperform” rating in a report on Thursday, November 13th. Macquarie lifted their price target on shares of Wynn Resorts from $110.00 to $124.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Zacks Research raised shares of Wynn Resorts from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 27th. Barclays lifted their target price on shares of Wynn Resorts from $127.00 to $141.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Wynn Resorts in a research report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $134.38.

Wynn Resorts Price Performance

WYNN opened at $120.29 on Tuesday. Wynn Resorts has a fifty-two week low of $65.25 and a fifty-two week high of $134.23. The company has a market capitalization of $12.51 billion, a P/E ratio of 36.12, a P/E/G ratio of 4.94 and a beta of 1.32. The firm’s fifty day moving average price is $123.45 and its two-hundred day moving average price is $109.73.

Wynn Resorts (NASDAQ:WYNN) last issued its earnings results on Thursday, November 6th. The casino operator reported $0.86 earnings per share for the quarter, missing the consensus estimate of $1.09 by ($0.23). Wynn Resorts had a net margin of 5.51% and a negative return on equity of 56.78%. The business had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same quarter last year, the firm posted $0.90 earnings per share. Wynn Resorts’s revenue was up 8.3% on a year-over-year basis. On average, equities research analysts expect that Wynn Resorts will post 5.17 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Monday, November 17th will be issued a $0.25 dividend. The ex-dividend date is Monday, November 17th. This represents a $1.00 annualized dividend and a yield of 0.8%. Wynn Resorts’s dividend payout ratio (DPR) is currently 22.37%.

Insider Buying and Selling

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 transaction of $554,750.00. Following the completion of the sale, the director directly owned 3,066 shares of the company’s stock, valued at approximately $383,250. The trade was a 59.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.52% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Wynn Resorts

Institutional investors have recently modified their holdings of the business. Norges Bank bought a new stake in Wynn Resorts in the second quarter valued at about $106,289,000. Palidye Holdings Caymans Ltd acquired a new position in shares of Wynn Resorts during the 2nd quarter worth about $104,629,000. Zurich Insurance Group Ltd FI bought a new stake in shares of Wynn Resorts in the 3rd quarter valued at about $110,213,000. Thrivent Financial for Lutherans raised its position 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 acquiring an additional 737,234 shares during the period. Finally, Westfield Capital Management Co. LP bought a new position in Wynn Resorts during the 3rd quarter worth approximately $73,588,000. 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.