Wynn Resorts, Limited (NASDAQ:WYNN) Stock Has Average Price Target of $120.88

Wynn Resorts, Limited (NASDAQ:WYNN) has been given a consensus rating of “Moderate Buy” by the twenty analysts that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, one has given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $120.88.

Several equities research analysts recently commented on WYNN shares. Argus boosted their target price on Wynn Resorts from $115.00 to $130.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Wall Street Zen lowered Wynn Resorts from a “hold” rating to a “sell” rating in a research note on Saturday, November 7th. The Goldman Sachs Group reiterated a “buy” rating and set a $93.00 price target on shares of Wynn Resorts in a research report on Friday, November 6th. Zacks Research downgraded Wynn Resorts from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 10th. Finally, Citigroup decreased their target price on Wynn Resorts from $103.00 to $100.00 and set a “buy” rating for the company in a research note on Monday, November 9th.

Wynn Resorts Trading Up 2.5%

WYNN stock traded up $2.04 during trading on Thursday, hitting $85.06. The company had a trading volume of 1,814,631 shares, compared to its average volume of 2,622,960. The business has a 50 day moving average of $80.02 and a 200 day moving average of $96.97. The firm has a market capitalization of $8.72 billion, a price-to-earnings ratio of 25.39, a P/E/G ratio of 1.24 and a beta of 0.96. Wynn Resorts has a fifty-two week low of $70.79 and a fifty-two week high of $134.72.

Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Thursday, November 5th. The casino operator reported $0.33 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.19). The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.75 billion. Wynn Resorts had a net margin of 5.20% and a negative return on equity of 42.73%. The firm’s quarterly revenue was down 7.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.86 EPS. As a group, equities analysts predict that Wynn Resorts will post 3.99 EPS for the current year.

Wynn Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 30th. Shareholders of record on Monday, November 16th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Monday, November 16th. Wynn Resorts’s dividend payout ratio is presently 29.85%.

Hedge Funds Weigh In On Wynn Resorts

Several large investors have recently made changes to their positions in the business. Operose Advisors LLC raised its holdings in shares of Wynn Resorts by 400.0% in the 2nd quarter. Operose Advisors LLC now owns 500 shares of the casino operator’s stock worth $49,000 after purchasing an additional 400 shares in the last quarter. Parallel Advisors LLC boosted its holdings in Wynn Resorts by 18.5% during the first quarter. Parallel Advisors LLC now owns 756 shares of the casino operator’s stock worth $77,000 after buying an additional 118 shares in the last quarter. Optiver Holding B.V. bought a new stake in Wynn Resorts during the first quarter worth approximately $90,000. GKV Capital Management Co. Inc. bought a new stake in Wynn Resorts during the first quarter worth approximately $102,000. Finally, Allworth Financial LP acquired a new position in Wynn Resorts in the second quarter worth approximately $108,000. Institutional investors own 88.64% of the company’s stock.

About Wynn Resorts

Wynn Resorts, Limited develops and operates luxury hotels and casino resorts. Its properties offer gaming, hotel accommodations, restaurants, retail, entertainment, and convention and meeting facilities. The company’s portfolio includes Wynn Las Vegas and Encore in Nevada, Encore Boston Harbor in Massachusetts, and Wynn Macau and Wynn Palace in Macau. Its operations therefore span the United States and Macau, a special administrative region of China. Founded in 2002, Wynn Resorts opened Wynn Las Vegas in 2005.