Wynn Resorts (NASDAQ:WYNN) Given New $134.00 Price Target at Barclays

Wynn Resorts (NASDAQ:WYNN) had its target price decreased by Barclays from $139.00 to $134.00 in a research report report published on Thursday morning, MarketBeat.com reports. Barclays currently has an overweight rating on the casino operator’s stock.

Several other research analysts have also commented on WYNN. Weiss Ratings reiterated a “hold (c)” rating on shares of Wynn Resorts in a report on Wednesday, June 24th. Jefferies Financial Group reduced their target price on shares of Wynn Resorts from $161.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday, April 6th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $137.00 price target on shares of Wynn Resorts in a research note on Friday, May 8th. Mizuho reduced their price target on shares of Wynn Resorts from $134.00 to $133.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 12th. Finally, Bank of America decreased their price objective on Wynn Resorts from $150.00 to $140.00 and set a “buy” rating on the stock in a report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $138.75.

Wynn Resorts Stock Up 0.9%

Shares of NASDAQ WYNN opened at $98.83 on Thursday. The stock has a market capitalization of $10.26 billion, a price-to-earnings ratio of 29.50, a price-to-earnings-growth ratio of 0.91 and a beta of 0.99. Wynn Resorts has a 52 week low of $93.15 and a 52 week high of $134.72. The firm has a 50-day simple moving average of $101.32 and a 200-day simple moving average of $106.88.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings results on Thursday, May 7th. The casino operator reported $1.25 EPS for the quarter, beating the consensus estimate of $1.18 by $0.07. The firm had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.82 billion. Wynn Resorts had a negative return on equity of 42.03% and a net margin of 5.14%.The business’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.07 earnings per share. As a group, equities research analysts expect that Wynn Resorts will post 4.61 EPS for the current year.

Wynn Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 18th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Monday, May 18th. Wynn Resorts’s dividend payout ratio is 29.85%.

Institutional Trading of Wynn Resorts

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WYNN. Egerton Capital UK LLP acquired a new position in shares of Wynn Resorts during the fourth quarter worth about $249,053,000. Palidye Holdings Caymans Ltd acquired a new position in Wynn Resorts during the second quarter worth $104,629,000. Norges Bank acquired a new stake in shares of Wynn Resorts in the fourth quarter valued at about $122,696,000. Zurich Insurance Group Ltd FI acquired a new stake in shares of Wynn Resorts during the 3rd quarter valued at approximately $110,213,000. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of Wynn Resorts by 9.5% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,680,631 shares of the casino operator’s stock worth $442,890,000 after acquiring an additional 320,502 shares in the last quarter. Institutional investors and hedge funds own 88.64% of the company’s stock.

Wynn Resorts Company Profile

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.