Wynn Resorts (NASDAQ:WYNN) Price Target Raised to $122.00

Wynn Resorts (NASDAQ:WYNN) had its target price upped by Susquehanna from $92.00 to $122.00 in a research note issued to investors on Friday morning, Benzinga reports. The brokerage currently has a positive rating on the casino operator’s stock.

Several other brokerages also recently issued reports on WYNN. Morgan Stanley increased their price target on Wynn Resorts from $104.00 to $112.00 and gave the stock an overweight rating in a report on Friday. JPMorgan Chase & Co. lowered their price target on Wynn Resorts from $110.00 to $101.00 and set an overweight rating for the company in a report on Wednesday, August 7th. Stifel Nicolaus lowered their price target on Wynn Resorts from $121.00 to $103.00 and set a buy rating for the company in a report on Friday, September 13th. UBS Group upgraded Wynn Resorts to a hold rating in a report on Friday, August 23rd. Finally, Macquarie restated an outperform rating and issued a $126.00 price target on shares of Wynn Resorts in a report on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $115.20.

Wynn Resorts Trading Down 0.8 %

NASDAQ:WYNN opened at $103.95 on Friday. Wynn Resorts has a 1-year low of $71.63 and a 1-year high of $110.38. The business’s 50-day moving average price is $83.53 and its two-hundred day moving average price is $89.29. The firm has a market capitalization of $11.65 billion, a price-to-earnings ratio of 14.24, a PEG ratio of 2.67 and a beta of 1.81.

Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Tuesday, August 6th. The casino operator reported $1.12 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.02). Wynn Resorts had a net margin of 12.22% and a negative return on equity of 53.84%. The company had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same period in the previous year, the company posted $0.91 EPS. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. Sell-side analysts predict that Wynn Resorts will post 5.44 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 30th. Shareholders of record on Monday, August 19th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $1.00 dividend on an annualized basis and a yield of 0.96%. Wynn Resorts’s dividend payout ratio is 13.70%.

Insider Buying and Selling at Wynn Resorts

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $78.73, for a total value of $208,634.50. Following the completion of the transaction, the director now directly owns 5,689 shares in the company, valued at $447,894.97. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.52% of the company’s stock.

Institutional Trading of Wynn Resorts

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Wynn Resorts by 1.5% in the first quarter. Vanguard Group Inc. now owns 11,028,618 shares of the casino operator’s stock valued at $1,127,456,000 after buying an additional 166,594 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in Wynn Resorts by 0.4% during the 4th quarter. Fisher Asset Management LLC now owns 3,928,031 shares of the casino operator’s stock worth $357,883,000 after purchasing an additional 16,799 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Wynn Resorts by 29.1% during the 2nd quarter. Renaissance Technologies LLC now owns 1,345,100 shares of the casino operator’s stock worth $120,386,000 after purchasing an additional 303,033 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in Wynn Resorts by 22.2% during the 1st quarter. Janus Henderson Group PLC now owns 1,125,718 shares of the casino operator’s stock worth $115,082,000 after purchasing an additional 204,852 shares during the last quarter. Finally, Bamco Inc. NY lifted its holdings in Wynn Resorts by 5.1% during the 1st quarter. Bamco Inc. NY now owns 788,335 shares of the casino operator’s stock worth $80,591,000 after purchasing an additional 38,160 shares during the last quarter. 68.87% of the stock is 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.