Wynn Resorts, Limited (NASDAQ:WYNN) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Wynn Resorts, Limited (NASDAQ:WYNN) have earned an average recommendation of “Moderate Buy” from the fifteen research firms that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $127.7143.

Several equities analysts have commented on the company. Mizuho raised their price objective on Wynn Resorts from $122.00 to $126.00 and gave the company an “outperform” rating in a research report on Monday, August 11th. Stifel Nicolaus raised their price objective on Wynn Resorts from $130.00 to $145.00 and gave the company a “buy” rating in a research report on Thursday, September 18th. JPMorgan Chase & Co. assumed coverage on Wynn Resorts in a research report on Monday, June 23rd. They set an “overweight” rating and a $109.00 price objective for the company. Citigroup restated a “neutral” rating and set a $114.00 price target (up from $108.00) on shares of Wynn Resorts in a report on Wednesday, July 9th. Finally, Macquarie raised their price target on Wynn Resorts from $110.00 to $124.00 and gave the company an “outperform” rating in a report on Friday, August 8th.

Insider Buying and Selling at Wynn Resorts

In other news, Director Patricia Mulroy sold 4,438 shares of the firm’s stock in a transaction 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 transaction, the director directly owned 3,066 shares in the company, valued at $383,250. This trade represents a 59.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.52% of the stock is owned by insiders.

Hedge Funds Weigh In On Wynn Resorts

Several institutional investors and hedge funds have recently modified their holdings of the stock. Private Wealth Partners LLC increased its holdings in shares of Wynn Resorts by 3.1% during the second quarter. Private Wealth Partners LLC now owns 3,360 shares of the casino operator’s stock valued at $315,000 after acquiring an additional 100 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in shares of Wynn Resorts by 1.0% in the second quarter. DekaBank Deutsche Girozentrale now owns 12,356 shares of the casino operator’s stock worth $1,167,000 after acquiring an additional 127 shares during the period. Teachers Retirement System of The State of Kentucky grew its stake in shares of Wynn Resorts by 1.9% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 7,057 shares of the casino operator’s stock worth $589,000 after acquiring an additional 132 shares during the period. Navalign LLC grew its stake in shares of Wynn Resorts by 1.8% in the first quarter. Navalign LLC now owns 8,252 shares of the casino operator’s stock worth $689,000 after acquiring an additional 144 shares during the period. Finally, First Horizon Advisors Inc. grew its stake in shares of Wynn Resorts by 30.9% in the second quarter. First Horizon Advisors Inc. now owns 640 shares of the casino operator’s stock worth $60,000 after acquiring an additional 151 shares during the period. 88.64% of the stock is currently owned by institutional investors.

Wynn Resorts Stock Up 3.2%

Shares of WYNN stock opened at $116.11 on Wednesday. The stock has a fifty day moving average of $120.61 and a 200 day moving average of $101.31. Wynn Resorts has a 52 week low of $65.25 and a 52 week high of $134.23. The firm has a market capitalization of $12.07 billion, a price-to-earnings ratio of 34.87, a PEG ratio of 5.81 and a beta of 1.31.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Thursday, August 7th. The casino operator reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.11). The business had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.74 billion. Wynn Resorts had a negative return on equity of 56.78% and a net margin of 5.51%.The business’s revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.12 EPS. Equities research analysts anticipate that Wynn Resorts will post 5.17 earnings per share for the current year.

Wynn Resorts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, August 18th. This represents a $1.00 annualized dividend and a dividend yield of 0.9%. Wynn Resorts’s dividend payout ratio (DPR) is presently 30.03%.

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.