Brokerages Set Wynn Resorts, Limited (NASDAQ:WYNN) Target Price at $112.92

Shares of Wynn Resorts, Limited (NASDAQ:WYNN) have been given an average recommendation of “Moderate Buy” by the fifteen brokerages that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $112.92.

A number of research analysts have weighed in on the stock. Argus lowered shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Wednesday, April 23rd. Mizuho reduced their price target on shares of Wynn Resorts from $132.00 to $122.00 and set an “outperform” rating for the company in a research report on Thursday, May 8th. Morgan Stanley decreased their price target on shares of Wynn Resorts from $105.00 to $103.00 and set an “overweight” rating on the stock in a report on Monday, February 24th. Barclays reduced their price target on shares of Wynn Resorts from $116.00 to $99.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. Finally, Stifel Nicolaus set a $113.00 price target on Wynn Resorts in a research note on Wednesday, May 7th.

Insider Buying and Selling at Wynn Resorts

In related news, major shareholder Tilman J. Fertitta acquired 100,000 shares of the stock in a transaction dated Monday, April 7th. The shares were purchased at an average cost of $67.62 per share, with a total value of $6,762,000.00. Following the transaction, the insider now directly owns 13,000,000 shares in the company, valued at approximately $879,060,000. This represents a 0.78% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Philip G. Satre bought 22,200 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were purchased at an average price of $92.18 per share, for a total transaction of $2,046,396.00. Following the purchase, the director now owns 34,195 shares in the company, valued at $3,152,095.10. This represents a 185.08% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 438,700 shares of company stock worth $31,300,943. Insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On Wynn Resorts

A number of hedge funds and other institutional investors have recently modified their holdings of WYNN. Dagco Inc. bought a new position in Wynn Resorts during the 1st quarter valued at about $25,000. New Wave Wealth Advisors LLC purchased a new position in Wynn Resorts in the 4th quarter worth $26,000. Global X Japan Co. Ltd. boosted its holdings in shares of Wynn Resorts by 120.7% in the 1st quarter. Global X Japan Co. Ltd. now owns 320 shares of the casino operator’s stock valued at $27,000 after acquiring an additional 175 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Wynn Resorts during the third quarter worth about $31,000. Finally, Thurston Springer Miller Herd & Titak Inc. increased its holdings in Wynn Resorts by 3,408.3% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 421 shares of the casino operator’s stock valued at $35,000 after buying an additional 409 shares in the last quarter. Institutional investors own 88.64% of the company’s stock.

Wynn Resorts Stock Performance

NASDAQ WYNN opened at $96.79 on Friday. The firm’s fifty day moving average price is $80.91 and its two-hundred day moving average price is $85.77. Wynn Resorts has a fifty-two week low of $65.25 and a fifty-two week high of $107.81. The stock has a market cap of $10.12 billion, a PE ratio of 22.99, a PEG ratio of 2.35 and a beta of 1.33.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings results on Tuesday, May 6th. The casino operator reported $1.07 EPS for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.17). The firm had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.74 billion. Wynn Resorts had a net margin of 7.03% and a negative return on equity of 71.17%. The business’s revenue was down 8.7% compared to the same quarter last year. During the same period last year, the company posted $1.59 EPS. As a group, sell-side analysts predict that Wynn Resorts will post 5.17 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, May 16th. This represents a $1.00 dividend on an annualized basis and a yield of 1.03%. Wynn Resorts’s dividend payout ratio is currently 27.78%.

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.