Wynn Resorts (NASDAQ:WYNN) Price Target Cut to $150.00 by Analysts at Jefferies Financial Group

Wynn Resorts (NASDAQ:WYNN) had its price objective reduced by Jefferies Financial Group from $161.00 to $150.00 in a research note issued to investors on Monday,Benzinga reports. Jefferies Financial Group currently has a buy rating on the casino operator’s stock.

Other research analysts have also issued research reports about the stock. Macquarie Infrastructure restated an “outperform” rating and set a $143.00 price target on shares of Wynn Resorts in a report on Monday, December 8th. JPMorgan Chase & Co. raised their price target on shares of Wynn Resorts from $138.00 to $145.00 and gave the stock an “overweight” rating in a report on Monday, December 8th. Texas Capital upgraded shares of Wynn Resorts to a “strong-buy” rating in a report on Thursday, January 8th. Wells Fargo & Company lowered their price target on shares of Wynn Resorts from $152.00 to $147.00 and set an “overweight” rating for the company in a report on Friday, February 13th. Finally, Deutsche Bank Aktiengesellschaft set a $144.00 price target on shares of Wynn Resorts in a report on Friday, February 13th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $138.53.

Wynn Resorts Price Performance

NASDAQ:WYNN opened at $102.71 on Monday. The firm’s 50 day simple moving average is $106.64 and its 200 day simple moving average is $117.08. Wynn Resorts has a one year low of $65.25 and a one year high of $134.72. The company has a market cap of $10.69 billion, a PE ratio of 34.24, a P/E/G ratio of 8.67 and a beta of 1.04.

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

Wynn Resorts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 4th. Investors of record on Monday, February 23rd were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a 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 Trading of Wynn Resorts

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Root Financial Partners LLC bought a new stake in Wynn Resorts in the 3rd quarter valued at about $26,000. Steigerwald Gordon & Koch Inc. bought a new stake in Wynn Resorts during the 3rd quarter valued at $31,000. Atlantic Edge Private Wealth Management LLC increased its stake in Wynn Resorts by 400.0% during the 3rd quarter. Atlantic Edge Private Wealth Management LLC now owns 250 shares of the casino operator’s stock valued at $32,000 after purchasing an additional 200 shares in the last quarter. Hantz Financial Services Inc. grew its stake in shares of Wynn Resorts by 54.9% in the 4th quarter. Hantz Financial Services Inc. now owns 251 shares of the casino operator’s stock worth $30,000 after acquiring an additional 89 shares in the last quarter. Finally, Cromwell Holdings LLC grew its stake in shares of Wynn Resorts by 68.2% in the 4th quarter. Cromwell Holdings LLC now owns 254 shares of the casino operator’s stock worth $31,000 after acquiring an additional 103 shares in the last quarter. 88.64% of the stock is owned by institutional investors.

About Wynn Resorts

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.