Wynn Resorts (NASDAQ:WYNN) Price Target Raised to $131.00 at Mizuho

Wynn Resorts (NASDAQ:WYNN) had its price target raised by Mizuho from $126.00 to $131.00 in a research note published on Thursday morning,Benzinga reports. Mizuho currently has an outperform rating on the casino operator’s stock.

Other analysts have also recently issued reports about the stock. The Goldman Sachs Group increased their price target on shares of Wynn Resorts from $124.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, October 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of Wynn Resorts in a research report on Wednesday, November 5th. Zacks Research upgraded Wynn Resorts from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 27th. JPMorgan Chase & Co. raised their price target on Wynn Resorts from $136.00 to $138.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Finally, Argus upgraded Wynn Resorts from a “hold” rating to a “buy” rating and set a $145.00 price objective for the company in a research report on Wednesday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $133.00.

Wynn Resorts Stock Performance

Wynn Resorts stock traded down $2.28 during trading hours on Thursday, hitting $120.73. 1,212,457 shares of the stock were exchanged, compared to its average volume of 2,273,787. Wynn Resorts has a 12 month low of $65.25 and a 12 month high of $134.23. The business’s 50-day moving average is $123.57 and its two-hundred day moving average is $108.53. The stock has a market capitalization of $12.55 billion, a P/E ratio of 36.26, a P/E/G ratio of 4.94 and a beta of 1.32.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings results on Thursday, November 6th. The casino operator reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.23). Wynn Resorts had a negative return on equity of 56.78% and a net margin of 5.51%.The business had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter last year, the company earned $0.90 earnings per share. The firm’s revenue was up 8.3% on a year-over-year basis. On average, equities analysts predict that Wynn Resorts will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Monday, November 17th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, November 17th. This represents a $1.00 annualized dividend and a dividend yield of 0.8%. Wynn Resorts’s payout ratio is 22.37%.

Insider Activity

In related news, Director Patricia Mulroy sold 4,438 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $125.00, for a total transaction of $554,750.00. Following the completion of the sale, the director directly owned 3,066 shares of the company’s stock, valued at approximately $383,250. This represents a 59.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.52% of the company’s stock.

Institutional Investors Weigh In On Wynn Resorts

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Dagco Inc. bought a new position in shares of Wynn Resorts during the first quarter worth about $25,000. AlphaQuest LLC acquired a new position in Wynn Resorts during the 1st quarter worth approximately $25,000. MUFG Securities EMEA plc bought a new position in shares of Wynn Resorts during the 2nd quarter worth approximately $25,000. Root Financial Partners LLC acquired a new stake in shares of Wynn Resorts in the third quarter valued at approximately $26,000. Finally, Manchester Capital Management LLC raised its holdings in shares of Wynn Resorts by 1,500.0% in the second quarter. Manchester Capital Management LLC now owns 320 shares of the casino operator’s stock valued at $30,000 after purchasing an additional 300 shares during the last quarter. 88.64% of the stock is currently owned by institutional investors and hedge funds.

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.