Analysts Set Wynn Resorts, Limited (NASDAQ:WYNN) Price Target at $119.58

Wynn Resorts, Limited (NASDAQ:WYNN) has been given an average recommendation of “Buy” by the fourteen brokerages that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation, twelve have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $119.58.

A number of brokerages recently issued reports on WYNN. Deutsche Bank Aktiengesellschaft lowered their price objective on Wynn Resorts from $122.00 to $118.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Mizuho boosted their price objective on Wynn Resorts from $118.00 to $132.00 and gave the company an “outperform” rating in a research note on Friday, February 14th. Wells Fargo & Company lowered their price objective on Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Macquarie reiterated an “outperform” rating and set a $115.00 price target on shares of Wynn Resorts in a research report on Friday, February 14th. Finally, Morgan Stanley decreased their price target on Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating on the stock in a research report on Monday, February 24th.

Wynn Resorts Stock Performance

Shares of NASDAQ:WYNN opened at $88.93 on Tuesday. Wynn Resorts has a fifty-two week low of $71.63 and a fifty-two week high of $110.38. The company’s 50-day moving average is $85.37 and its 200 day moving average is $88.05. The company has a market capitalization of $9.46 billion, a P/E ratio of 21.12, a price-to-earnings-growth ratio of 2.35 and a beta of 1.76.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Thursday, February 13th. The casino operator reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $1.15. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. The business had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.78 billion. As a group, research analysts predict that Wynn Resorts will post 5.17 earnings per share for the current year.

Wynn Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Monday, February 24th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend is Monday, February 24th. Wynn Resorts’s dividend payout ratio (DPR) is 23.75%.

Insiders Place Their Bets

In other news, Director Philip G. Satre bought 22,200 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was acquired at an average price of $92.18 per share, with a total value of $2,046,396.00. Following the completion of the purchase, the director now directly owns 34,195 shares in the company, valued at $3,152,095.10. This represents a 185.08 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.52% of the stock is owned by insiders.

Institutional Trading of Wynn Resorts

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Fisher Asset Management LLC boosted its stake in Wynn Resorts by 70.7% in the third quarter. Fisher Asset Management LLC now owns 3,971,846 shares of the casino operator’s stock worth $380,821,000 after buying an additional 1,644,965 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in Wynn Resorts by 18.4% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,125,668 shares of the casino operator’s stock worth $269,308,000 after buying an additional 485,204 shares in the last quarter. Geode Capital Management LLC boosted its stake in Wynn Resorts by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 2,433,052 shares of the casino operator’s stock worth $209,120,000 after buying an additional 26,792 shares in the last quarter. Jefferies Financial Group Inc. boosted its stake in Wynn Resorts by 9.0% in the fourth quarter. Jefferies Financial Group Inc. now owns 1,683,600 shares of the casino operator’s stock worth $145,059,000 after buying an additional 139,270 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of Wynn Resorts by 16.4% during the fourth quarter. Renaissance Technologies LLC now owns 1,616,756 shares of the casino operator’s stock valued at $139,300,000 after purchasing an additional 228,000 shares during the period. Hedge funds and other institutional investors own 88.64% of the company’s stock.

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.