Wynn Resorts (NASDAQ:WYNN) Now Covered by Analysts at Truist Financial

Truist Financial initiated coverage on shares of Wynn Resorts (NASDAQ:WYNN) in a research note published on Wednesday, Marketbeat.com reports. The firm issued a buy rating and a $125.00 price target on the casino operator’s stock.

Other equities analysts have also recently issued reports about the stock. Wells Fargo & Company set a $142.00 price objective on shares of Wynn Resorts and gave the company an “overweight” rating in a research note on Sunday, May 10th. Citigroup dropped their price target on shares of Wynn Resorts from $145.00 to $132.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Wynn Resorts in a report on Wednesday, June 24th. Mizuho decreased their target price 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, JPMorgan Chase & Co. decreased their price objective on shares of Wynn Resorts from $140.00 to $135.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. One 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 MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $139.06.

Wynn Resorts Stock Performance

Shares of WYNN opened at $97.93 on Wednesday. Wynn Resorts has a fifty-two week low of $93.15 and a fifty-two week high of $134.72. The company has a market capitalization of $10.16 billion, a price-to-earnings ratio of 29.23, a price-to-earnings-growth ratio of 0.90 and a beta of 0.99. The firm has a 50-day simple moving average of $101.46 and a 200-day simple moving average of $107.08.

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

Wynn Resorts Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Monday, May 18th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Monday, May 18th. Wynn Resorts’s 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 the stock. Egerton Capital UK LLP acquired a new stake in shares of Wynn Resorts during the 4th quarter worth about $249,053,000. Palidye Holdings Caymans Ltd acquired a new stake in shares of Wynn Resorts during the second quarter worth $104,629,000. Norges Bank acquired a new stake in shares of Wynn Resorts during the fourth quarter worth $122,696,000. Zurich Insurance Group Ltd FI acquired a new position in shares of Wynn Resorts during the 3rd quarter valued at about $110,213,000. Finally, Barrow Hanley Mewhinney & Strauss LLC increased 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 valued at $442,890,000 after acquiring an additional 320,502 shares during the last quarter. Hedge funds and other institutional investors own 88.64% of the company’s stock.

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.