Wynn Resorts (NASDAQ:WYNN) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of Wynn Resorts (NASDAQ:WYNN) from a hold rating to a buy rating in a research report report published on Tuesday.

WYNN has been the subject of several other research reports. Wells Fargo & Company lowered their price objective on shares of Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Wynn Resorts from $122.00 to $118.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Stifel Nicolaus raised their price objective on shares of Wynn Resorts from $123.00 to $128.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Macquarie reissued an “outperform” rating and issued a $115.00 price objective on shares of Wynn Resorts in a research note on Friday, February 14th. Finally, Morgan Stanley raised their price objective on shares of Wynn Resorts from $112.00 to $115.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $120.58.

Wynn Resorts Price Performance

Shares of WYNN stock opened at $93.47 on Tuesday. The firm has a market cap of $9.95 billion, a PE ratio of 22.20, a price-to-earnings-growth ratio of 2.64 and a beta of 1.76. The company has a 50-day moving average of $85.39 and a two-hundred day moving average of $87.14. Wynn Resorts has a 1-year low of $71.63 and a 1-year high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last announced its earnings results on Thursday, February 13th. The casino operator reported $2.42 earnings per share for the quarter, topping the consensus estimate of $1.27 by $1.15. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. The company had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.78 billion. Sell-side analysts anticipate that Wynn Resorts will post 4.87 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Monday, February 24th will be issued a $0.25 dividend. The ex-dividend date is Monday, February 24th. This represents a $1.00 annualized dividend and a yield of 1.07%. Wynn Resorts’s dividend payout ratio (DPR) is 23.75%.

Insiders Place Their Bets

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

Institutional Trading of Wynn Resorts

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fisher Asset Management LLC raised its holdings in Wynn Resorts by 70.7% during the third quarter. Fisher Asset Management LLC now owns 3,971,846 shares of the casino operator’s stock worth $380,821,000 after purchasing an additional 1,644,965 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in shares of Wynn Resorts by 18.4% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,125,668 shares of the casino operator’s stock valued at $269,308,000 after acquiring an additional 485,204 shares during the period. Geode Capital Management LLC increased its holdings in shares of Wynn Resorts by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 2,433,052 shares of the casino operator’s stock valued at $209,120,000 after acquiring an additional 26,792 shares during the period. Jefferies Financial Group Inc. increased its holdings in shares of Wynn Resorts by 9.0% in the 4th quarter. Jefferies Financial Group Inc. now owns 1,683,600 shares of the casino operator’s stock valued at $145,059,000 after acquiring an additional 139,270 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in shares of Wynn Resorts by 16.4% in the 4th quarter. Renaissance Technologies LLC now owns 1,616,756 shares of the casino operator’s stock valued at $139,300,000 after acquiring an additional 228,000 shares during the period. Institutional investors and hedge funds own 88.64% 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.