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

Wynn Resorts, Limited (NASDAQ:WYNN) has received an average recommendation of “Moderate Buy” from the seventeen ratings firms that are covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $138.8667.

Several brokerages recently weighed in on WYNN. Jefferies Financial Group upped their price objective on Wynn Resorts from $146.00 to $155.00 and gave the stock a “buy” rating in a research report on Monday, December 8th. UBS Group reissued a “buy” rating on shares of Wynn Resorts in a research note on Monday, February 23rd. Mizuho raised their price target on shares of Wynn Resorts from $131.00 to $134.00 and gave the company an “outperform” rating in a research note on Tuesday, February 17th. Morgan Stanley decreased their price target on shares of Wynn Resorts from $139.00 to $136.00 and set an “overweight” rating on the stock in a report on Wednesday, February 25th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $148.00 price objective on shares of Wynn Resorts in a research report on Monday, December 15th.

Wynn Resorts Price Performance

Shares of NASDAQ:WYNN opened at $101.55 on Wednesday. Wynn Resorts has a 1 year low of $65.25 and a 1 year high of $134.72. The stock has a market capitalization of $10.57 billion, a price-to-earnings ratio of 33.85, a price-to-earnings-growth ratio of 10.96 and a beta of 1.01. The company’s 50 day simple moving average is $107.59 and its 200 day simple moving average is $117.68.

Wynn Resorts (NASDAQ:WYNN) last issued its earnings results on Thursday, February 12th. The casino operator reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.16). Wynn Resorts had a net margin of 4.59% and a negative return on equity of 39.05%. The business had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.85 billion. During the same period in the prior year, the business posted $2.42 EPS. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, analysts anticipate that Wynn Resorts will post 5.17 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 4th. Shareholders of record on Monday, February 23rd were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Monday, February 23rd. Wynn Resorts’s payout ratio is presently 33.33%.

Institutional Investors Weigh In On Wynn Resorts

Hedge funds have recently modified their holdings of the company. Capital World Investors boosted its holdings in shares of Wynn Resorts by 0.6% in the fourth quarter. Capital World Investors now owns 9,542,392 shares of the casino operator’s stock worth $1,148,236,000 after acquiring an additional 61,209 shares during the period. Barrow Hanley Mewhinney & Strauss LLC raised its stake in shares of Wynn Resorts by 9.5% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,680,631 shares of the casino operator’s stock valued at $442,890,000 after purchasing an additional 320,502 shares during the period. Egerton Capital UK LLP purchased a new stake in Wynn Resorts during the 4th quarter worth about $249,053,000. Invesco Ltd. lifted its holdings in Wynn Resorts by 14.2% during the 4th quarter. Invesco Ltd. now owns 2,011,462 shares of the casino operator’s stock worth $242,039,000 after purchasing an additional 249,704 shares in the last quarter. Finally, Bamco Inc. NY boosted its stake in Wynn Resorts by 56.5% in the 2nd quarter. Bamco Inc. NY now owns 1,337,236 shares of the casino operator’s stock worth $125,259,000 after purchasing an additional 482,570 shares during the period. Institutional investors and hedge funds own 88.64% of the company’s stock.

Wynn Resorts Company Profile

Wynn Resorts, Limited (NASDAQ: WYNN) is a global developer and operator of luxury resorts and casinos, renowned for its premium hospitality offerings and integrated entertainment experiences. The company specializes in high-end hotel accommodations, gaming operations, fine dining restaurants, retail outlets, meeting and convention spaces, and live entertainment venues. Its properties are designed to cater to both leisure and business travelers seeking upscale environments and world-class service.

Founded in 2002 by hospitality entrepreneur Steve Wynn, the company opened its flagship property, Wynn Las Vegas, on the Las Vegas Strip in 2005, followed by Encore Las Vegas in 2008.