Vetr Inc. Upgrades Wynn Resorts, Limited (NASDAQ:WYNN) to Buy
Vetr upgraded shares of Wynn Resorts, Limited (NASDAQ:WYNN) from a hold rating to a buy rating in a research report report published on Friday, July 14th. The firm currently has $146.26 price objective on the casino operator’s stock.
WYNN has been the topic of a number of other research reports. Telsey Advisory Group reissued an outperform rating and issued a $145.00 target price (up previously from $110.00) on shares of Wynn Resorts, Limited in a report on Wednesday, April 26th. TheStreet raised shares of Wynn Resorts, Limited from a c rating to a b- rating in a report on Thursday, March 30th. Aegis reaffirmed a buy rating and set a $132.00 price target (up previously from $121.00) on shares of Wynn Resorts, Limited in a report on Saturday, April 29th. Sanford C. Bernstein reaffirmed an outperform rating on shares of Wynn Resorts, Limited in a report on Wednesday, July 12th. Finally, Zacks Investment Research cut Wynn Resorts, Limited from a buy rating to a hold rating in a report on Thursday, April 20th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $125.62.
Shares of Wynn Resorts, Limited (NASDAQ:WYNN) traded up 0.26% during midday trading on Friday, hitting $130.07. The company had a trading volume of 1,791,528 shares. The company has a 50-day moving average of $133.18 and a 200 day moving average of $117.50. Wynn Resorts, Limited has a 12 month low of $82.51 and a 12 month high of $139.67. The firm has a market capitalization of $13.26 billion, a PE ratio of 48.68 and a beta of 1.72.
Wynn Resorts, Limited (NASDAQ:WYNN) last issued its quarterly earnings results on Tuesday, July 25th. The casino operator reported $1.18 EPS for the quarter, topping the consensus estimate of $1.16 by $0.02. Wynn Resorts, Limited had a net margin of 5.02% and a return on equity of 205.76%. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.47 billion. During the same quarter last year, the company posted $1.07 earnings per share. The company’s quarterly revenue was up 44.5% compared to the same quarter last year. On average, analysts expect that Wynn Resorts, Limited will post $4.92 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 22nd. Investors of record on Thursday, August 10th will be issued a $0.50 dividend. The ex-dividend date is Tuesday, August 8th. This represents a $2.00 annualized dividend and a yield of 1.54%. Wynn Resorts, Limited’s dividend payout ratio (DPR) is presently 74.91%.
In other news, President Matt Maddox sold 44,309 shares of the business’s stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $134.35, for a total transaction of $5,952,914.15. Following the transaction, the president now owns 344,895 shares in the company, valued at approximately $46,336,643.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Clark T. Jr. Randt sold 3,000 shares of the company’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $129.00, for a total transaction of $387,000.00. Following the completion of the sale, the director now directly owns 7,711 shares in the company, valued at approximately $994,719. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 73,309 shares of company stock worth $9,693,891. Insiders own 13.20% of the company’s stock.
A number of hedge funds have recently bought and sold shares of WYNN. Russell Investments Group Ltd. acquired a new stake in Wynn Resorts, Limited during the fourth quarter worth $2,755,000. Dimensional Fund Advisors LP raised its position in Wynn Resorts, Limited by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 180,152 shares of the casino operator’s stock worth $15,587,000 after buying an additional 1,516 shares during the period. Federated Investors Inc. PA raised its position in Wynn Resorts, Limited by 179.3% in the fourth quarter. Federated Investors Inc. PA now owns 4,304 shares of the casino operator’s stock worth $372,000 after buying an additional 2,763 shares during the period. FMR LLC raised its position in Wynn Resorts, Limited by 98.7% in the fourth quarter. FMR LLC now owns 372,804 shares of the casino operator’s stock worth $32,251,000 after buying an additional 185,217 shares during the period. Finally, GSA Capital Partners LLP purchased a new position in Wynn Resorts, Limited during the fourth quarter worth approximately $422,000. 75.06% of the stock is currently owned by institutional investors and hedge funds.
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.
To view Vetr’s full report, visit Vetr’s official website.
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