Wynn Resorts, Limited (NASDAQ:WYNN) Receives Average Rating of “Moderate Buy” from Analysts

Wynn Resorts, Limited (NASDAQ:WYNNGet Free Report) has been given an average recommendation of “Moderate Buy” by the fourteen analysts that are presently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $121.31.

WYNN has been the topic of a number of recent research reports. Argus raised Wynn Resorts from a “hold” rating to a “buy” rating and set a $110.00 target price on the stock in a report on Thursday, May 23rd. StockNews.com upgraded Wynn Resorts from a “hold” rating to a “buy” rating in a research report on Friday, May 17th. Seaport Res Ptn upgraded Wynn Resorts from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 30th. Barclays upped their price target on Wynn Resorts from $124.00 to $128.00 and gave the stock an “overweight” rating in a research report on Thursday, May 9th. Finally, Citigroup upped their price target on Wynn Resorts from $132.00 to $138.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th.

Read Our Latest Stock Report on WYNN

Wynn Resorts Stock Performance

WYNN stock opened at $89.10 on Thursday. Wynn Resorts has a fifty-two week low of $81.65 and a fifty-two week high of $112.25. The business’s 50-day moving average is $94.46 and its two-hundred day moving average is $96.84. The company has a market cap of $9.99 billion, a price-to-earnings ratio of 12.21 and a beta of 1.85.

Wynn Resorts (NASDAQ:WYNNGet Free Report) last posted its earnings results on Tuesday, May 7th. The casino operator reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.16. Wynn Resorts had a negative return on equity of 46.04% and a net margin of 12.36%. The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the prior year, the company earned $0.29 earnings per share. Wynn Resorts’s revenue was up 30.9% on a year-over-year basis. Equities analysts predict that Wynn Resorts will post 5.58 earnings per share for the current year.

Wynn Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Monday, May 20th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend was Friday, May 17th. Wynn Resorts’s dividend payout ratio is currently 13.70%.

Insider Buying and Selling at Wynn Resorts

In other Wynn Resorts news, Director Betsy S. Atkins sold 2,446 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $94.39, for a total transaction of $230,877.94. Following the completion of the transaction, the director now owns 9,226 shares in the company, valued at approximately $870,842.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.52% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Wynn Resorts

Several institutional investors have recently added to or reduced their stakes in WYNN. Norges Bank purchased a new position in Wynn Resorts during the 4th quarter valued at approximately $157,305,000. Interval Partners LP lifted its stake in shares of Wynn Resorts by 999.0% in the 1st quarter. Interval Partners LP now owns 400,911 shares of the casino operator’s stock valued at $40,985,000 after purchasing an additional 364,432 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Wynn Resorts by 20.7% in the 3rd quarter. Invesco Ltd. now owns 1,449,064 shares of the casino operator’s stock valued at $133,908,000 after purchasing an additional 248,820 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of Wynn Resorts by 22.2% in the 1st quarter. Janus Henderson Group PLC now owns 1,125,718 shares of the casino operator’s stock valued at $115,082,000 after purchasing an additional 204,852 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Wynn Resorts by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 11,028,618 shares of the casino operator’s stock valued at $1,127,456,000 after purchasing an additional 166,594 shares during the last quarter. Hedge funds and other institutional investors own 68.87% of the company’s stock.

About Wynn Resorts

(Get Free Report

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.

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Analyst Recommendations for Wynn Resorts (NASDAQ:WYNN)

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