Wynn Resorts (NASDAQ:WYNN) Price Target Increased to $125.00 by Analysts at Wells Fargo & Company

Wynn Resorts (NASDAQ:WYNN) had its price target increased by Wells Fargo & Company from $115.00 to $125.00 in a research note published on Thursday, Benzinga reports. The brokerage currently has an overweight rating on the casino operator’s stock.

WYNN has been the topic of several other reports. Stifel Nicolaus decreased their target price on shares of Wynn Resorts from $121.00 to $103.00 and set a “buy” rating on the stock in a research note on Friday, September 13th. Susquehanna upped their price objective on shares of Wynn Resorts from $92.00 to $122.00 and gave the company a “positive” rating in a research note on Friday, October 11th. Jefferies Financial Group cut their target price on Wynn Resorts from $111.00 to $96.00 and set a “hold” rating on the stock in a research note on Thursday, July 11th. Deutsche Bank Aktiengesellschaft lowered their price target on Wynn Resorts from $131.00 to $122.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Finally, Macquarie reiterated an “outperform” rating and issued a $126.00 price objective on shares of Wynn Resorts in a research report on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Wynn Resorts has a consensus rating of “Moderate Buy” and a consensus price target of $115.67.

Wynn Resorts Stock Down 2.2 %

Wynn Resorts stock opened at $97.99 on Thursday. The firm has a fifty day simple moving average of $84.92 and a two-hundred day simple moving average of $89.41. Wynn Resorts has a twelve month low of $71.63 and a twelve month high of $110.38. The company has a market capitalization of $10.98 billion, a PE ratio of 13.42, a P/E/G ratio of 2.68 and a beta of 1.81.

Wynn Resorts (NASDAQ:WYNN) last issued its earnings results on Tuesday, August 6th. The casino operator reported $1.12 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.02). The company had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.74 billion. Wynn Resorts had a net margin of 12.22% and a negative return on equity of 53.84%. The company’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.91 earnings per share. As a group, equities analysts expect that Wynn Resorts will post 5.44 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were given a dividend of $0.25 per share. The ex-dividend date was Monday, August 19th. This represents a $1.00 dividend on an annualized basis and a yield of 1.02%. Wynn Resorts’s dividend payout ratio (DPR) is currently 13.70%.

Insider Buying and Selling

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $78.73, for a total transaction of $208,634.50. Following the completion of the transaction, the director now owns 5,689 shares of the company’s stock, valued at approximately $447,894.97. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.52% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Wynn Resorts

Several institutional investors and hedge funds have recently modified their holdings of the stock. Empirical Finance LLC grew its position in Wynn Resorts by 3.7% during the 1st quarter. Empirical Finance LLC now owns 3,220 shares of the casino operator’s stock valued at $329,000 after purchasing an additional 114 shares during the last quarter. EntryPoint Capital LLC increased its position in shares of Wynn Resorts by 7.2% during the first quarter. EntryPoint Capital LLC now owns 1,738 shares of the casino operator’s stock valued at $178,000 after acquiring an additional 117 shares in the last quarter. Fifth Third Bancorp raised its holdings in Wynn Resorts by 8.5% in the 2nd quarter. Fifth Third Bancorp now owns 1,536 shares of the casino operator’s stock worth $137,000 after acquiring an additional 120 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in Wynn Resorts by 2.8% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 5,540 shares of the casino operator’s stock valued at $496,000 after acquiring an additional 149 shares in the last quarter. Finally, Garde Capital Inc. boosted its stake in Wynn Resorts by 10.1% during the 1st quarter. Garde Capital Inc. now owns 1,737 shares of the casino operator’s stock valued at $177,000 after purchasing an additional 160 shares during the last quarter. 68.87% of the stock is currently owned by institutional investors.

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.