Wynn Resorts, Limited (NASDAQ:WYNN) Given Average Rating of “Buy” by Brokerages

Wynn Resorts, Limited (NASDAQ:WYNN) has been given a consensus rating of “Buy” by the fifteen research firms that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $134.6923.

WYNN has been the topic of several research reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Wynn Resorts in a research note on Monday. Mizuho raised their target price on shares of Wynn Resorts from $126.00 to $131.00 and gave the stock an “outperform” rating in a research note on Thursday, November 13th. Stifel Nicolaus boosted their target price on Wynn Resorts from $130.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, September 18th. Barclays upped their price target on Wynn Resorts from $127.00 to $141.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Finally, Argus upgraded Wynn Resorts from a “hold” rating to a “buy” rating and set a $145.00 price objective on the stock in a research report on Wednesday, September 3rd.

Insider Activity

In related news, Director Patricia Mulroy sold 4,438 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $125.00, for a total transaction of $554,750.00. Following the completion of the sale, the director directly owned 3,066 shares in the company, valued at approximately $383,250. This trade represents a 59.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.52% of the company’s stock.

Institutional Investors Weigh In On Wynn Resorts

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WYNN. Capital World Investors raised its position in Wynn Resorts by 0.7% in the 3rd quarter. Capital World Investors now owns 9,481,183 shares of the casino operator’s stock valued at $1,216,151,000 after purchasing an additional 69,793 shares in the last quarter. Bamco Inc. NY increased its stake in shares of Wynn Resorts by 56.5% during the second quarter. Bamco Inc. NY now owns 1,337,236 shares of the casino operator’s stock worth $125,259,000 after buying an additional 482,570 shares during the period. Norges Bank acquired a new stake in Wynn Resorts in the second quarter valued at approximately $106,289,000. Palidye Holdings Caymans Ltd acquired a new stake in shares of Wynn Resorts in the 2nd quarter valued at $104,629,000. Finally, Raymond James Financial Inc. boosted its position in shares of Wynn Resorts by 5.3% during the 3rd quarter. Raymond James Financial Inc. now owns 1,111,574 shares of the casino operator’s stock worth $142,582,000 after acquiring an additional 55,555 shares in the last quarter. Institutional investors and hedge funds own 88.64% of the company’s stock.

Wynn Resorts Stock Performance

Shares of WYNN opened at $129.46 on Thursday. The stock has a 50 day moving average price of $123.46 and a 200 day moving average price of $111.13. Wynn Resorts has a one year low of $65.25 and a one year high of $134.23. The stock has a market capitalization of $13.46 billion, a price-to-earnings ratio of 38.88, a PEG ratio of 4.94 and a beta of 1.32.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Thursday, November 6th. The casino operator reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.23). Wynn Resorts had a net margin of 5.51% and a negative return on equity of 56.78%. The firm had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter in the previous year, the business posted $0.90 EPS. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, analysts predict that Wynn Resorts will post 5.17 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Monday, November 17th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Monday, November 17th. Wynn Resorts’s payout ratio is currently 22.37%.

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.