Wynn Resorts, Limited (NASDAQ:WYNN) Given Average Rating of “Buy” by Analysts

Shares of Wynn Resorts, Limited (NASDAQ:WYNN) have received a consensus rating of “Buy” from the fifteen research firms that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $134.6923.

A number of analysts have recently weighed in on the stock. Wells Fargo & Company assumed coverage on shares of Wynn Resorts in a research note on Tuesday, November 18th. They issued an “overweight” rating and a $151.00 price objective on the stock. Zacks Research upgraded Wynn Resorts from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 27th. Stifel Nicolaus upped their target price on Wynn Resorts from $130.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday, September 18th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Wynn Resorts in a research report on Monday. Finally, Argus raised Wynn Resorts from a “hold” rating to a “buy” rating and set a $145.00 price target for the company in a report on Wednesday, September 3rd.

Wynn Resorts Stock Up 1.6%

Shares of NASDAQ:WYNN opened at $129.46 on Thursday. The stock has a market cap of $13.46 billion, a P/E ratio of 38.88, a price-to-earnings-growth ratio of 4.94 and a beta of 1.32. 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 is $123.46 and its 200 day moving average is $111.13.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Thursday, November 6th. The casino operator reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the previous year, the business earned $0.90 EPS. Wynn Resorts’s revenue for the quarter was up 8.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Wynn Resorts will post 5.17 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Monday, November 17th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Monday, November 17th. Wynn Resorts’s dividend payout ratio is presently 22.37%.

Insiders Place Their Bets

In other Wynn Resorts news, Director Patricia Mulroy sold 4,438 shares of the stock in a transaction that occurred 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 transaction, the director owned 3,066 shares in the company, valued at approximately $383,250. This represents a 59.14% decrease in their ownership of the stock. The sale 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.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Norges Bank acquired a new stake in Wynn Resorts in the 2nd quarter valued at $106,289,000. Palidye Holdings Caymans Ltd purchased a new position in Wynn Resorts during the second quarter valued at $104,629,000. Zurich Insurance Group Ltd FI acquired a new stake in shares of Wynn Resorts in the third quarter valued at about $110,213,000. Thrivent Financial for Lutherans grew its position in shares of Wynn Resorts by 6,391.3% in the second 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 during the period. Finally, Westfield Capital Management Co. LP purchased a new stake in shares of Wynn Resorts during the third quarter worth about $73,588,000. 88.64% of the stock is owned by institutional investors and hedge funds.

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.