Wynn Resorts (NASDAQ:WYNN) Price Target Increased to $112.00 by Analysts at Morgan Stanley

Wynn Resorts (NASDAQ:WYNN) had its target price raised by Morgan Stanley from $104.00 to $112.00 in a research report released on Friday morning, Benzinga reports. The firm currently has an overweight rating on the casino operator’s stock.

A number of other analysts also recently commented on the stock. UBS Group raised shares of Wynn Resorts to a hold rating in a report on Friday, August 23rd. Macquarie reiterated an outperform rating and set a $126.00 price target on shares of Wynn Resorts in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reduced their target price on Wynn Resorts from $131.00 to $122.00 and set a buy rating on the stock in a research report on Wednesday, August 7th. Jefferies Financial Group dropped their price objective on Wynn Resorts from $111.00 to $96.00 and set a hold rating for the company in a report on Thursday, July 11th. Finally, StockNews.com downgraded shares of Wynn Resorts from a buy rating to a hold rating in a research note on Tuesday, September 17th. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Wynn Resorts has an average rating of Moderate Buy and a consensus price target of $115.20.

Wynn Resorts Trading Up 1.0 %

Wynn Resorts stock opened at $104.75 on Friday. The stock’s fifty day simple moving average is $82.92 and its 200-day simple moving average is $89.45. The firm has a market capitalization of $11.63 billion, a P/E ratio of 14.21, a P/E/G ratio of 2.67 and a beta of 1.81. Wynn Resorts has a twelve month low of $71.63 and a twelve month high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Tuesday, August 6th. The casino operator reported $1.12 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.02). The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.74 billion. Wynn Resorts had a negative return on equity of 53.84% and a net margin of 12.22%. Wynn Resorts’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.91 earnings per share. Sell-side analysts predict that Wynn Resorts will post 5.44 earnings per share for the current year.

Wynn Resorts Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.95%. The ex-dividend date was Monday, August 19th. Wynn Resorts’s dividend payout ratio is currently 13.57%.

Insiders Place Their Bets

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $78.73, for a total value of $208,634.50. Following the transaction, the director now owns 5,689 shares of the company’s stock, valued at $447,894.97. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.52% of the stock is currently owned by corporate insiders.

Institutional Trading of Wynn Resorts

Hedge funds have recently bought and sold shares of the company. International Assets Investment Management LLC bought a new stake in Wynn Resorts during the second quarter worth approximately $25,000. Register Financial Advisors LLC acquired a new position in shares of Wynn Resorts during the 1st quarter valued at $37,000. Neo Ivy Capital Management bought a new stake in shares of Wynn Resorts in the 4th quarter worth $40,000. Versant Capital Management Inc acquired a new stake in shares of Wynn Resorts in the second quarter valued at $51,000. Finally, Covestor Ltd raised its position in Wynn Resorts by 421.7% in the first quarter. Covestor Ltd now owns 626 shares of the casino operator’s stock worth $64,000 after acquiring an additional 506 shares in the last quarter. 68.87% of the stock is currently owned by institutional investors.

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.