UBS Group upgraded shares of Wynn Resorts (NASDAQ:WYNN) from a neutral rating to a positive rating in a report published on Thursday morning, The Fly reports.
WYNN has been the subject of a number of other research reports. Jefferies Group reissued a positive rating and issued a $220.00 target price on shares of Wynn Resorts in a report on Tuesday, January 23rd. TheStreet raised Wynn Resorts from a c+ rating to a b- rating in a report on Tuesday, December 12th. JPMorgan Chase & Co. raised Wynn Resorts from a neutral rating to an overweight rating in a report on Wednesday, February 7th. Zacks Investment Research raised Wynn Resorts from a hold rating to a buy rating and set a $188.00 target price for the company in a report on Wednesday, December 27th. Finally, Citigroup raised their target price on Wynn Resorts to $161.00 and gave the company a buy rating in a report on Monday, October 16th. Eleven analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $179.62.
Shares of Wynn Resorts (WYNN) opened at $166.22 on Thursday. The company has a current ratio of 1.72, a quick ratio of 1.68 and a debt-to-equity ratio of 24.54. Wynn Resorts has a fifty-two week low of $92.67 and a fifty-two week high of $203.63. The firm has a market capitalization of $17,080.00, a price-to-earnings ratio of 22.86 and a beta of 1.59.
Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings results on Monday, January 22nd. The casino operator reported $1.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.07. Wynn Resorts had a return on equity of 148.17% and a net margin of 11.85%. The firm had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.56 billion. During the same period last year, the company earned $0.50 earnings per share. The company’s revenue for the quarter was up 29.9% on a year-over-year basis. analysts anticipate that Wynn Resorts will post 7.62 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 27th. Stockholders of record on Thursday, February 15th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date is Wednesday, February 14th. Wynn Resorts’s dividend payout ratio is currently 27.51%.
Several hedge funds have recently made changes to their positions in the company. First Republic Investment Management Inc. purchased a new position in shares of Wynn Resorts in the fourth quarter valued at $4,305,000. Suntrust Banks Inc. increased its position in shares of Wynn Resorts by 16.3% in the fourth quarter. Suntrust Banks Inc. now owns 5,166 shares of the casino operator’s stock valued at $870,000 after buying an additional 723 shares in the last quarter. Baird Financial Group Inc. increased its position in shares of Wynn Resorts by 20.3% in the fourth quarter. Baird Financial Group Inc. now owns 2,307 shares of the casino operator’s stock valued at $389,000 after buying an additional 389 shares in the last quarter. Norinchukin Bank The increased its position in shares of Wynn Resorts by 7.7% in the fourth quarter. Norinchukin Bank The now owns 6,411 shares of the casino operator’s stock valued at $1,081,000 after buying an additional 456 shares in the last quarter. Finally, FDx Advisors Inc. purchased a new position in shares of Wynn Resorts in the fourth quarter valued at $203,000. Institutional investors and hedge funds own 72.27% of the company’s stock.
About Wynn Resorts
Wynn Resorts, Limited (Wynn Resorts) is a developer, owner and operator of destination casino resorts that integrate accommodations and a range of amenities, including dining outlets, retail offerings, entertainment theaters and meeting complexes. The Company’s segments include Macau Operations and Las Vegas Operations.
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