Wynn Resorts, Limited (NASDAQ:WYNN) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Wynn Resorts, Limited (NASDAQ:WYNN) have earned a consensus rating of “Moderate Buy” from the nineteen ratings firms that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given 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 $138.75.

A number of analysts recently commented on the company. Barclays reduced their price objective on Wynn Resorts from $139.00 to $134.00 and set an “overweight” rating for the company in a research report on Thursday. Wells Fargo & Company set a $142.00 price target on Wynn Resorts and gave the company an “overweight” rating in a research note on Sunday, May 10th. Citigroup reduced their price target on shares of Wynn Resorts from $145.00 to $132.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Truist Financial initiated coverage on shares of Wynn Resorts in a research note on Wednesday. They issued a “buy” rating and a $125.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $137.00 price objective on shares of Wynn Resorts in a report on Friday, May 8th.

Institutional Trading of Wynn Resorts

A number of large investors have recently added to or reduced their stakes in WYNN. Capital Advisors Ltd. LLC lifted its position in shares of Wynn Resorts by 433,217.6% during the 4th quarter. Capital Advisors Ltd. LLC now owns 73,664 shares of the casino operator’s stock valued at $8,864,000 after buying an additional 73,647 shares in the last quarter. Westend Capital Management LLC acquired a new position in Wynn Resorts during the fourth quarter worth $12,084,000. SG Americas Securities LLC raised its position in Wynn Resorts by 224.1% during the fourth quarter. SG Americas Securities LLC now owns 82,859 shares of the casino operator’s stock worth $9,970,000 after acquiring an additional 57,293 shares during the period. Pacer Advisors Inc. lifted its holdings in Wynn Resorts by 97.5% during the fourth quarter. Pacer Advisors Inc. now owns 22,415 shares of the casino operator’s stock valued at $2,697,000 after purchasing an additional 11,067 shares in the last quarter. Finally, Patton Fund Management Inc. lifted its holdings in Wynn Resorts by 642.8% during the fourth quarter. Patton Fund Management Inc. now owns 19,923 shares of the casino operator’s stock valued at $2,397,000 after purchasing an additional 17,241 shares in the last quarter. Institutional investors own 88.64% of the company’s stock.

Wynn Resorts Trading Up 0.9%

Shares of WYNN opened at $98.83 on Friday. The firm has a market cap of $10.26 billion, a PE ratio of 29.50, a P/E/G ratio of 0.91 and a beta of 0.99. The firm has a fifty day simple moving average of $101.32 and a two-hundred day simple moving average of $106.88. Wynn Resorts has a 1-year low of $93.15 and a 1-year high of $134.72.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings results on Thursday, May 7th. The casino operator reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.82 billion. During the same period last year, the business posted $1.07 EPS. The company’s revenue for the quarter was up 9.2% on a year-over-year basis. As a group, research analysts forecast that Wynn Resorts will post 4.61 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 18th were given a dividend of $0.25 per share. The ex-dividend date was Monday, May 18th. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. Wynn Resorts’s dividend payout ratio (DPR) is currently 29.85%.

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.