Brokerages Set Wynn Resorts, Limited (NASDAQ:WYNN) Price Target at $119.53

Wynn Resorts, Limited (NASDAQ:WYNN) has earned a consensus rating of “Moderate Buy” from the sixteen research firms that are currently covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $119.53.

Several equities research analysts have recently weighed in on the stock. Seaport Res Ptn upgraded shares of Wynn Resorts from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 30th. Mizuho began coverage on Wynn Resorts in a research report on Thursday, April 4th. They issued a “buy” rating and a $131.00 price objective for the company. Argus raised Wynn Resorts from a “hold” rating to a “buy” rating and set a $110.00 price objective on the stock in a research note on Thursday, May 23rd. Morgan Stanley decreased their target price on Wynn Resorts from $115.00 to $107.00 and set an “equal weight” rating for the company in a research note on Friday, July 12th. Finally, Macquarie dropped their price target on Wynn Resorts from $128.00 to $126.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 9th.

Insiders Place Their Bets

In related news, Director Betsy S. Atkins sold 2,446 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $94.39, for a total value of $230,877.94. Following the transaction, the director now owns 9,226 shares in the company, valued at $870,842.14. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.52% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in WYNN. Vanguard Group Inc. increased its holdings in shares of Wynn Resorts by 1.5% in the first quarter. Vanguard Group Inc. now owns 11,028,618 shares of the casino operator’s stock worth $1,127,456,000 after purchasing an additional 166,594 shares during the period. Fisher Asset Management LLC lifted its holdings in shares of Wynn Resorts by 0.5% during the 4th quarter. Fisher Asset Management LLC now owns 3,931,323 shares of the casino operator’s stock worth $358,183,000 after acquiring an additional 20,091 shares during the last quarter. Norges Bank bought a new stake in shares of Wynn Resorts during the 4th quarter worth $157,305,000. Janus Henderson Group PLC grew its position in Wynn Resorts by 22.2% in the first quarter. Janus Henderson Group PLC now owns 1,125,718 shares of the casino operator’s stock worth $115,082,000 after acquiring an additional 204,852 shares in the last quarter. Finally, Bamco Inc. NY increased its stake in Wynn Resorts by 5.1% in the first quarter. Bamco Inc. NY now owns 788,335 shares of the casino operator’s stock valued at $80,591,000 after acquiring an additional 38,160 shares during the last quarter. Hedge funds and other institutional investors own 68.87% of the company’s stock.

Wynn Resorts Trading Down 0.1 %

NASDAQ WYNN opened at $83.43 on Monday. The firm has a market capitalization of $9.35 billion, a PE ratio of 11.43 and a beta of 1.82. The business’s 50-day moving average price is $90.57 and its two-hundred day moving average price is $96.34. Wynn Resorts has a 12 month low of $81.65 and a 12 month high of $111.09.

Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Tuesday, May 7th. The casino operator reported $1.59 EPS for the quarter, beating the consensus estimate of $1.43 by $0.16. Wynn Resorts had a negative return on equity of 46.04% and a net margin of 12.36%. The business had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same period in the prior year, the business posted $0.29 earnings per share. The firm’s revenue was up 30.9% on a year-over-year basis. As a group, analysts forecast that Wynn Resorts will post 5.59 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Monday, May 20th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.20%. The ex-dividend date was Friday, May 17th. Wynn Resorts’s dividend payout ratio (DPR) is presently 13.70%.

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.