Sterne Agee Reiterates Buy Rating for Wynn Resorts, Limited (WYNN)
Wynn Resorts, Limited (NASDAQ:WYNN)‘s stock had its “buy” rating reaffirmed by research analysts at Sterne Agee in a report released on Friday. They currently have a $245.00 target price on the stock, down from their previous target price of $260.00. Sterne Agee’s target price would indicate a potential upside of 21.15% from the company’s current price.
Shares of Wynn Resorts, Limited (NASDAQ:WYNN) traded down 0.42% on Friday, hitting $201.38. The stock had a trading volume of 1,015,012 shares. Wynn Resorts, Limited has a 52 week low of $138.01 and a 52 week high of $249.31. The stock’s 50-day moving average is $205. and its 200-day moving average is $212.8. The company has a market cap of $20.322 billion and a price-to-earnings ratio of 24.94.
Wynn Resorts, Limited (NASDAQ:WYNN) last announced its earnings results on Tuesday, July 29th. The company reported $2.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.16. The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the previous year, the company posted $1.51 earnings per share. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. Analysts expect that Wynn Resorts, Limited will post $8.57 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, August 26th. Investors of record on Tuesday, August 12th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date of this dividend is Friday, August 8th.
Other equities research analysts have also recently issued reports about the stock. Analysts at Gabelli downgraded shares of Wynn Resorts, Limited from a “buy” rating to a “hold” rating in a research note on Thursday. Separately, analysts at Craig Hallum upgraded shares of Wynn Resorts, Limited from a “hold” rating to a “buy” rating in a research note on Thursday, August 7th. They now have a $244.00 price target on the stock. Finally, analysts at Nomura reiterated a “buy” rating on shares of Wynn Resorts, Limited in a research note on Wednesday, July 30th. They now have a $272.00 price target on the stock, down previously from $276.00. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $230.65.
Wynn Resorts, Limited is a developer, owner and operator of destination casino resorts. The Company owns and operates two destination casino resorts.
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