Wynn Resorts, Limited (WYNN) Raised to Overweight at Barclays PLC
Barclays PLC upgraded shares of Wynn Resorts, Limited (NASDAQ:WYNN) from an equal weight rating to an overweight rating in a report published on Friday, May 12th. Barclays PLC currently has $144.00 price target on the casino operator’s stock, up from their previous price target of $87.00.
Several other research analysts have also weighed in on WYNN. Aegis reaffirmed a hold rating and set a $95.00 price target (up previously from $87.00) on shares of Wynn Resorts, Limited in a research report on Friday, January 27th. Instinet decreased their target price on Wynn Resorts, Limited from $103.00 to $99.00 and set a neutral rating on the stock in a report on Monday, April 3rd. Morgan Stanley reissued an overweight rating on shares of Wynn Resorts, Limited in a report on Thursday, January 19th. Telsey Advisory Group boosted their target price on Wynn Resorts, Limited from $106.00 to $110.00 and gave the stock an outperform rating in a report on Friday, January 27th. Finally, Vetr lowered Wynn Resorts, Limited from a buy rating to a hold rating and set a $119.59 target price on the stock. in a report on Monday, April 10th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $121.45.
Shares of Wynn Resorts, Limited (WYNN) traded up 0.31% during trading on Friday, reaching $134.46. The company’s stock had a trading volume of 1,806,881 shares. The stock’s 50 day moving average price is $127.35 and its 200 day moving average price is $107.87. The company has a market cap of $13.68 billion, a PE ratio of 51.11 and a beta of 1.70. Wynn Resorts, Limited has a 52 week low of $82.51 and a 52 week high of $136.98.
Wynn Resorts, Limited (NASDAQ:WYNN) last posted its quarterly earnings results on Tuesday, April 25th. The casino operator reported $1.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.28. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.40 billion. Wynn Resorts, Limited had a return on equity of 264.58% and a net margin of 5.41%. The business’s quarterly revenue was up 47.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.07 EPS. Equities research analysts predict that Wynn Resorts, Limited will post $4.72 EPS for the current year.
COPYRIGHT VIOLATION WARNING: This article was first reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this article on another site, it was stolen and reposted in violation of US & international copyright & trademark law. The legal version of this article can be viewed at https://www.thecerbatgem.com/2017/06/16/wynn-resorts-limited-wynn-raised-to-overweight-at-barclays-plc-updated-updated-updated.html.
The business also recently declared a quarterly dividend, which was paid on Tuesday, May 23rd. Stockholders of record on Thursday, May 11th were paid a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, May 9th. This represents a $2.00 annualized dividend and a dividend yield of 1.49%. Wynn Resorts, Limited’s payout ratio is 76.05%.
In other news, Director Patricia Mulroy sold 2,226 shares of the stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $128.08, for a total value of $285,106.08. Following the completion of the sale, the director now owns 8,011 shares of the company’s stock, valued at $1,026,048.88. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John J. Hagenbuch sold 1,150 shares of the stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $128.40, for a total value of $147,660.00. Following the completion of the sale, the director now directly owns 11,662 shares of the company’s stock, valued at approximately $1,497,400.80. The disclosure for this sale can be found here. In the last three months, insiders sold 86,000 shares of company stock valued at $10,808,977. Insiders own 13.20% of the company’s stock.
Several large investors have recently modified their holdings of WYNN. Achmea Investment Management B.V. bought a new stake in shares of Wynn Resorts, Limited during the first quarter valued at $273,000. Bank of Nova Scotia acquired a new stake in Wynn Resorts, Limited during the first quarter valued at approximately $2,087,000. FNY Partners Fund LP boosted its stake in Wynn Resorts, Limited by 5,400.0% in the first quarter. FNY Partners Fund LP now owns 1,100 shares of the casino operator’s stock valued at $126,000 after buying an additional 1,080 shares in the last quarter. First Financial Equity Corporation acquired a new stake in Wynn Resorts, Limited during the first quarter valued at approximately $261,000. Finally, Platinum Investment Management Ltd. boosted its stake in Wynn Resorts, Limited by 0.7% in the first quarter. Platinum Investment Management Ltd. now owns 1,724,330 shares of the casino operator’s stock valued at $197,625,000 after buying an additional 11,600 shares in the last quarter. 75.22% of the stock is owned by institutional investors.
About Wynn Resorts, Limited
Wynn Resorts, Limited (Wynn Resorts) is a developer, owner and operator of destination casino resorts that integrate accommodations and a range of amenities, including dining outlets, retail offerings, entertainment theaters and meeting complexes. The Company’s segments include Macau Operations and Las Vegas Operations.
Receive News & Stock Ratings for Wynn Resorts Limited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wynn Resorts Limited and related stocks with our FREE daily email newsletter.