Wynn Resorts (NASDAQ:WYNN) Given New $132.00 Price Target at Mizuho

Wynn Resorts (NASDAQ:WYNN) had its target price boosted by Mizuho from $118.00 to $132.00 in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has an outperform rating on the casino operator’s stock.

A number of other brokerages also recently issued reports on WYNN. Jefferies Financial Group lowered their price target on Wynn Resorts from $109.00 to $105.00 and set a “hold” rating for the company in a research report on Friday, January 3rd. Deutsche Bank Aktiengesellschaft lowered their price target on Wynn Resorts from $122.00 to $118.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Morgan Stanley raised their price target on Wynn Resorts from $112.00 to $115.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Macquarie restated an “outperform” rating and issued a $120.00 price target on shares of Wynn Resorts in a research report on Tuesday, November 5th. Finally, Wells Fargo & Company lowered their price target on Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $119.50.

Wynn Resorts Stock Performance

NASDAQ WYNN opened at $88.82 on Friday. The company has a market capitalization of $9.75 billion, a P/E ratio of 10.95, a P/E/G ratio of 2.32 and a beta of 1.76. Wynn Resorts has a one year low of $71.63 and a one year high of $110.38. The stock has a 50 day moving average price of $85.66 and a 200-day moving average price of $86.83.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Thursday, February 13th. The casino operator reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $1.15. Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. As a group, equities analysts predict that Wynn Resorts will post 4.69 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.00 annualized dividend and a dividend yield of 1.13%. Wynn Resorts’s dividend payout ratio is currently 12.33%.

Hedge Funds Weigh In On Wynn Resorts

Several institutional investors have recently made changes to their positions in WYNN. Fisher Asset Management LLC increased its stake in shares of Wynn Resorts by 70.7% during the third quarter. Fisher Asset Management LLC now owns 3,971,846 shares of the casino operator’s stock valued at $380,821,000 after buying an additional 1,644,965 shares during the period. Norges Bank purchased a new position in shares of Wynn Resorts during the fourth quarter valued at $117,352,000. Jericho Capital Asset Management L.P. purchased a new position in shares of Wynn Resorts during the fourth quarter valued at $101,375,000. Raymond James Financial Inc. purchased a new position in Wynn Resorts in the fourth quarter valued at about $75,872,000. Finally, Holocene Advisors LP grew its stake in Wynn Resorts by 27,868.5% in the third quarter. Holocene Advisors LP now owns 757,946 shares of the casino operator’s stock valued at $72,672,000 after purchasing an additional 755,236 shares during the last quarter. Hedge funds and other institutional investors own 88.64% of the company’s stock.

About Wynn Resorts

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.