Wynn Resorts, Limited (NASDAQ:WYNN) Receives $116.36 Average Price Target from Brokerages

Wynn Resorts, Limited (NASDAQ:WYNN) has been given a consensus recommendation of “Moderate Buy” by the fifteen ratings firms that are presently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $116.36.

A number of brokerages have recently issued reports on WYNN. StockNews.com cut shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Tuesday, September 17th. Susquehanna lifted their price objective on Wynn Resorts from $92.00 to $122.00 and gave the company a “positive” rating in a report on Friday, October 11th. JPMorgan Chase & Co. increased their target price on Wynn Resorts from $101.00 to $113.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Morgan Stanley boosted their price target on Wynn Resorts from $112.00 to $115.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. Finally, Barclays dropped their price objective on Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th.

Institutional Trading of Wynn Resorts

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Regal Partners Ltd raised its position in shares of Wynn Resorts by 24.0% during the third quarter. Regal Partners Ltd now owns 898,705 shares of the casino operator’s stock worth $86,168,000 after acquiring an additional 174,005 shares during the last quarter. Wellington Management Group LLP raised its holdings in Wynn Resorts by 90.6% during the 3rd quarter. Wellington Management Group LLP now owns 115,707 shares of the casino operator’s stock worth $11,094,000 after purchasing an additional 54,995 shares during the last quarter. Crystal Rock Capital Management bought a new position in shares of Wynn Resorts in the 3rd quarter valued at about $719,000. MBB Public Markets I LLC acquired a new stake in shares of Wynn Resorts during the 2nd quarter worth approximately $698,000. Finally, APG Asset Management N.V. raised its stake in shares of Wynn Resorts by 231.0% during the second quarter. APG Asset Management N.V. now owns 11,176 shares of the casino operator’s stock worth $933,000 after buying an additional 7,800 shares during the last quarter. Institutional investors and hedge funds own 88.64% of the company’s stock.

Wynn Resorts Stock Down 0.0 %

WYNN stock opened at $81.15 on Monday. Wynn Resorts has a twelve month low of $71.63 and a twelve month high of $110.38. The company has a market cap of $8.91 billion, a PE ratio of 10.01, a price-to-earnings-growth ratio of 3.46 and a beta of 1.77. The business’s 50-day simple moving average is $89.78 and its 200 day simple moving average is $87.21.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings data on Monday, November 4th. The casino operator reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.11). The firm had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.73 billion. Wynn Resorts had a net margin of 13.37% and a negative return on equity of 61.16%. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.99 earnings per share. On average, equities research analysts anticipate that Wynn Resorts will post 4.79 EPS for the current year.

Wynn Resorts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th were given a dividend of $0.25 per share. The ex-dividend date was Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.23%. Wynn Resorts’s payout ratio is 12.33%.

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.