Macquarie Boosts Wynn Resorts (NASDAQ:WYNN) Price Target to $128.00

Wynn Resorts (NASDAQ:WYNNFree Report) had its price objective boosted by Macquarie from $122.00 to $128.00 in a research note issued to investors on Friday, Benzinga reports. Macquarie currently has an outperform rating on the casino operator’s stock.

WYNN has been the topic of a number of other reports. Wells Fargo & Company boosted their price objective on shares of Wynn Resorts from $122.00 to $124.00 and gave the company an overweight rating in a research report on Thursday. JPMorgan Chase & Co. lifted their target price on shares of Wynn Resorts from $113.00 to $118.00 and gave the company an overweight rating in a research note on Thursday. UBS Group reduced their target price on shares of Wynn Resorts from $117.00 to $108.00 and set a neutral rating for the company in a research note on Tuesday, February 6th. Morgan Stanley reduced their target price on shares of Wynn Resorts from $109.00 to $107.00 and set an equal weight rating for the company in a research note on Thursday, November 16th. Finally, HSBC assumed coverage on shares of Wynn Resorts in a research note on Monday, October 23rd. They issued a buy rating and a $111.00 target price for the company. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $119.23.

Read Our Latest Stock Analysis on Wynn Resorts

Wynn Resorts Price Performance

Wynn Resorts stock opened at $105.60 on Friday. The firm’s 50 day simple moving average is $92.68 and its 200-day simple moving average is $93.27. Wynn Resorts has a fifty-two week low of $81.65 and a fifty-two week high of $117.86. The company has a market cap of $11.93 billion, a P/E ratio of 17.66 and a beta of 1.93.

Wynn Resorts (NASDAQ:WYNNGet Free Report) last announced its quarterly earnings data on Wednesday, February 7th. The casino operator reported $1.91 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $0.76. Wynn Resorts had a net margin of 11.18% and a negative return on equity of 28.70%. The firm had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same period in the previous year, the firm posted ($1.23) earnings per share. The firm’s revenue was up 83.1% on a year-over-year basis. On average, analysts expect that Wynn Resorts will post 4.79 EPS for the current fiscal year.

Wynn Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 29th. Shareholders of record on Tuesday, February 20th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date is Friday, February 16th. Wynn Resorts’s dividend payout ratio (DPR) is presently 16.72%.

Insider Buying and Selling at Wynn Resorts

In other Wynn Resorts news, CEO Craig Scott Billings sold 11,451 shares of the stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $95.26, for a total value of $1,090,822.26. Following the completion of the sale, the chief executive officer now directly owns 264,830 shares of the company’s stock, valued at approximately $25,227,705.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Craig Scott Billings sold 11,451 shares of the stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $95.26, for a total value of $1,090,822.26. Following the completion of the transaction, the chief executive officer now owns 264,830 shares in the company, valued at approximately $25,227,705.80. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Ellen F. Whittemore sold 4,180 shares of the stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $95.26, for a total transaction of $398,186.80. Following the completion of the transaction, the executive vice president now owns 74,144 shares of the company’s stock, valued at approximately $7,062,957.44. The disclosure for this sale can be found here. Insiders sold a total of 47,250 shares of company stock valued at $4,495,661 in the last ninety days. Company insiders own 0.62% of the company’s stock.

Hedge Funds Weigh In On Wynn Resorts

Hedge funds have recently made changes to their positions in the business. Blue Trust Inc. raised its stake in shares of Wynn Resorts by 3,000.0% in the 4th quarter. Blue Trust Inc. now owns 279 shares of the casino operator’s stock valued at $25,000 after buying an additional 270 shares in the last quarter. Sunbelt Securities Inc. increased its position in shares of Wynn Resorts by 4,285.7% during the 3rd quarter. Sunbelt Securities Inc. now owns 307 shares of the casino operator’s stock worth $28,000 after purchasing an additional 300 shares in the last quarter. GAMMA Investing LLC acquired a new stake in shares of Wynn Resorts during the 4th quarter worth about $38,000. Kistler Tiffany Companies LLC increased its position in shares of Wynn Resorts by 66.7% during the 2nd quarter. Kistler Tiffany Companies LLC now owns 375 shares of the casino operator’s stock worth $40,000 after purchasing an additional 150 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its position in shares of Wynn Resorts by 1,083.8% during the 4th quarter. Venturi Wealth Management LLC now owns 438 shares of the casino operator’s stock worth $40,000 after purchasing an additional 401 shares in the last quarter. Institutional investors and hedge funds own 61.88% of the company’s stock.

Wynn Resorts Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Wynn Resorts (NASDAQ:WYNN)

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