Wynn Resorts (NASDAQ:WYNN) Price Target Raised to $115.00 at Morgan Stanley

Wynn Resorts (NASDAQ:WYNN) had its target price raised by Morgan Stanley from $112.00 to $115.00 in a research report released on Tuesday morning, Benzinga reports. They currently have an overweight rating on the casino operator’s stock.

Several other equities research analysts also recently weighed in on the company. Barclays increased their price target on Wynn Resorts from $108.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. UBS Group raised Wynn Resorts to a “hold” rating in a report on Friday, August 23rd. Susquehanna upped their price objective on Wynn Resorts from $92.00 to $122.00 and gave the stock a “positive” rating in a research report on Friday, October 11th. JPMorgan Chase & Co. dropped their price objective on shares of Wynn Resorts from $110.00 to $101.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Wynn Resorts from $131.00 to $122.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $116.21.

Wynn Resorts Stock Performance

Wynn Resorts stock opened at $97.99 on Tuesday. Wynn Resorts has a fifty-two week low of $71.63 and a fifty-two week high of $110.38. The company has a market cap of $10.98 billion, a PE ratio of 13.42, a PEG ratio of 2.57 and a beta of 1.81. The business’s 50-day simple moving average is $87.75 and its two-hundred day simple moving average is $89.08.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly 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). The business had revenue of $1.73 billion during 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 quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.91 EPS. As a group, analysts predict that Wynn Resorts will post 5.42 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $1.00 annualized dividend and a dividend yield of 1.02%. Wynn Resorts’s dividend payout ratio (DPR) is presently 13.70%.

Insider Transactions at Wynn Resorts

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of the firm’s stock in a transaction 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 transaction, the director now owns 5,689 shares in the company, valued at approximately $447,894.97. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.52% of the company’s stock.

Institutional Trading of Wynn Resorts

A number of hedge funds have recently bought and sold shares of the business. Sei Investments Co. grew its position in shares of Wynn Resorts by 5.6% in the first quarter. Sei Investments Co. now owns 139,038 shares of the casino operator’s stock valued at $14,214,000 after purchasing an additional 7,380 shares in the last quarter. Concord Investment Counsel Inc. purchased a new stake in Wynn Resorts in the 1st quarter valued at $2,461,000. UniSuper Management Pty Ltd increased its stake in shares of Wynn Resorts by 540.6% in the 1st quarter. UniSuper Management Pty Ltd now owns 10,179 shares of the casino operator’s stock worth $1,041,000 after acquiring an additional 8,590 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Wynn Resorts by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 11,028,618 shares of the casino operator’s stock worth $1,127,456,000 after acquiring an additional 166,594 shares during the period. Finally, OPTIMAS CAPITAL Ltd acquired a new position in shares of Wynn Resorts during the 1st quarter valued at about $3,394,000. Institutional investors and hedge funds own 68.87% of the company’s stock.

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.