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

Wynn Resorts, Limited (NASDAQ:WYNN) has been given a consensus recommendation of “Moderate Buy” by the fourteen ratings firms that are presently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $121.31.

A number of equities analysts have weighed in on the company. Morgan Stanley boosted their price objective on Wynn Resorts from $107.00 to $114.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Stifel Nicolaus upped their price objective on shares of Wynn Resorts from $135.00 to $138.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Argus raised shares of Wynn Resorts from a “hold” rating to a “buy” rating and set a $110.00 target price on the stock in a research note on Thursday, May 23rd. Citigroup increased their price target on shares of Wynn Resorts from $132.00 to $138.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Finally, Wells Fargo & Company lifted their price target on shares of Wynn Resorts from $125.00 to $128.00 and gave the company an “overweight” rating in a research report on Wednesday, May 8th.

Insiders Place Their Bets

In other news, Director Betsy S. Atkins sold 2,446 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $94.39, for a total value of $230,877.94. Following the sale, the director now directly owns 9,226 shares in the company, valued at $870,842.14. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.52% of the company’s stock.

Institutional Trading of Wynn Resorts

A number of large investors have recently made changes to their positions in WYNN. Nisa Investment Advisors LLC increased its position in shares of Wynn Resorts by 0.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 27,904 shares of the casino operator’s stock valued at $2,542,000 after purchasing an additional 109 shares during the last quarter. Fifth Third Bancorp increased its holdings in Wynn Resorts by 8.5% in the first quarter. Fifth Third Bancorp now owns 1,416 shares of the casino operator’s stock valued at $145,000 after buying an additional 111 shares during the last quarter. Empirical Finance LLC raised its stake in Wynn Resorts by 3.7% in the first quarter. Empirical Finance LLC now owns 3,220 shares of the casino operator’s stock valued at $329,000 after buying an additional 114 shares in the last quarter. EntryPoint Capital LLC lifted its holdings in Wynn Resorts by 7.2% during the 1st quarter. EntryPoint Capital LLC now owns 1,738 shares of the casino operator’s stock worth $178,000 after buying an additional 117 shares during the last quarter. Finally, Federated Hermes Inc. boosted its position in shares of Wynn Resorts by 47.5% during the 4th quarter. Federated Hermes Inc. now owns 435 shares of the casino operator’s stock worth $40,000 after acquiring an additional 140 shares in the last quarter. 68.87% of the stock is currently owned by hedge funds and other institutional investors.

Wynn Resorts Stock Down 0.2 %

Shares of WYNN opened at $88.13 on Thursday. Wynn Resorts has a 52-week low of $81.65 and a 52-week high of $112.25. The stock has a market cap of $9.88 billion, a PE ratio of 12.07 and a beta of 1.85. The firm’s fifty day moving average is $94.05 and its two-hundred day moving average is $96.81.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Tuesday, May 7th. The casino operator reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.16. The company had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Wynn Resorts had a net margin of 12.36% and a negative return on equity of 46.04%. Wynn Resorts’s revenue was up 30.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.29 EPS. As a group, research analysts anticipate that Wynn Resorts will post 5.59 earnings per share for the current year.

Wynn Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Monday, May 20th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, May 17th. This represents a $1.00 dividend on an annualized basis and a yield of 1.13%. Wynn Resorts’s dividend payout ratio (DPR) is presently 13.70%.

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.