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

Shares of Wynn Resorts, Limited (NASDAQ:WYNN) have earned an average recommendation of “Moderate Buy” from the seventeen analysts that are presently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $138.8667.

WYNN has been the subject of a number of recent analyst reports. Barclays boosted their price target on shares of Wynn Resorts from $141.00 to $143.00 and gave the company an “overweight” rating in a research report on Friday, January 16th. Susquehanna reissued a “positive” rating and set a $133.00 price objective on shares of Wynn Resorts in a research note on Thursday, February 12th. UBS Group restated a “buy” rating on shares of Wynn Resorts in a research report on Monday, February 23rd. Macquarie Infrastructure restated an “outperform” rating and issued a $143.00 target price on shares of Wynn Resorts in a research note on Monday, December 8th. Finally, Mizuho raised their price target on Wynn Resorts from $131.00 to $134.00 and gave the company an “outperform” rating in a report on Tuesday, February 17th.

Institutional Investors Weigh In On Wynn Resorts

Several hedge funds have recently bought and sold shares of WYNN. Norges Bank bought a new stake in shares of Wynn Resorts during the 2nd quarter worth $106,289,000. Pacific Heights Asset Management LLC increased its stake in Wynn Resorts by 30.4% in the third quarter. Pacific Heights Asset Management LLC now owns 150,000 shares of the casino operator’s stock valued at $19,240,000 after acquiring an additional 35,000 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in Wynn Resorts by 19.1% in the third quarter. Thrivent Financial for Lutherans now owns 891,661 shares of the casino operator’s stock valued at $114,374,000 after acquiring an additional 142,892 shares during the last quarter. Rakuten Investment Management Inc. purchased a new stake in Wynn Resorts during the third quarter valued at about $51,163,000. Finally, Hussman Strategic Advisors Inc. bought a new stake in Wynn Resorts during the third quarter worth about $1,347,000. 88.64% of the stock is currently owned by institutional investors.

Wynn Resorts Trading Up 4.9%

WYNN stock opened at $101.55 on Wednesday. The firm has a 50 day moving average of $107.59 and a 200-day moving average of $117.68. The firm has a market capitalization of $10.57 billion, a P/E ratio of 33.85, a price-to-earnings-growth ratio of 10.96 and a beta of 1.01. Wynn Resorts has a 12 month low of $65.25 and a 12 month high of $134.72.

Wynn Resorts (NASDAQ:WYNN) last posted its earnings results on Thursday, February 12th. The casino operator reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.16). Wynn Resorts had a negative return on equity of 39.05% and a net margin of 4.59%.The firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same period last year, the company posted $2.42 EPS. The business’s revenue was up 1.5% on a year-over-year basis. Sell-side analysts predict that Wynn Resorts will post 5.17 EPS for the current year.

Wynn Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 4th. Investors of record on Monday, February 23rd were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Monday, February 23rd. Wynn Resorts’s dividend payout ratio is 33.33%.

About Wynn Resorts

Wynn Resorts, Limited (NASDAQ: WYNN) is a global developer and operator of luxury resorts and casinos, renowned for its premium hospitality offerings and integrated entertainment experiences. The company specializes in high-end hotel accommodations, gaming operations, fine dining restaurants, retail outlets, meeting and convention spaces, and live entertainment venues. Its properties are designed to cater to both leisure and business travelers seeking upscale environments and world-class service.

Founded in 2002 by hospitality entrepreneur Steve Wynn, the company opened its flagship property, Wynn Las Vegas, on the Las Vegas Strip in 2005, followed by Encore Las Vegas in 2008.