Wynn Resorts, Limited (NASDAQ:WYNN) Receives $129.64 Average Price Target from Analysts

Wynn Resorts, Limited (NASDAQ:WYNN) has earned an average rating of “Moderate Buy” from the fourteen ratings firms that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $131.25.

Several brokerages have commented on WYNN. UBS Group raised Wynn Resorts from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $101.00 to $147.00 in a research note on Thursday, August 28th. Argus upgraded shares of Wynn Resorts from a “hold” rating to a “buy” rating and set a $145.00 price objective for the company in a research report on Wednesday, September 3rd. Zacks Research raised shares of Wynn Resorts from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 27th. Mizuho boosted their target price on shares of Wynn Resorts from $122.00 to $126.00 and gave the stock an “outperform” rating in a research note on Monday, August 11th. Finally, Citigroup reiterated a “neutral” rating and issued a $114.00 price target (up from $108.00) on shares of Wynn Resorts in a research note on Wednesday, July 9th.

Wynn Resorts Stock Performance

Shares of WYNN stock opened at $121.34 on Friday. Wynn Resorts has a fifty-two week low of $65.25 and a fifty-two week high of $134.23. The stock’s fifty day moving average price is $123.58 and its two-hundred day moving average price is $106.67. The company has a market cap of $12.62 billion, a PE ratio of 36.44, a P/E/G ratio of 4.94 and a beta of 1.31.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Thursday, August 7th. The casino operator reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.11). The business had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.74 billion. Wynn Resorts had a negative return on equity of 56.78% and a net margin of 5.51%.Wynn Resorts’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.12 earnings per share. On average, equities analysts predict that Wynn Resorts will post 5.17 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 18th were given a $0.25 dividend. The ex-dividend date was Monday, August 18th. This represents a $1.00 annualized dividend and a yield of 0.8%. Wynn Resorts’s dividend payout ratio (DPR) is currently 30.03%.

Insider Activity at Wynn Resorts

In other news, Director Patricia Mulroy sold 4,438 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $125.00, for a total transaction of $554,750.00. Following the sale, the director directly owned 3,066 shares in the company, valued at approximately $383,250. The trade was a 59.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.52% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Norges Bank bought a new stake in Wynn Resorts during the second quarter valued at $106,289,000. Palidye Holdings Caymans Ltd acquired a new position in shares of Wynn Resorts in the 2nd quarter valued at about $104,629,000. Thrivent Financial for Lutherans boosted its position in shares of Wynn Resorts by 6,391.3% during the 2nd quarter. Thrivent Financial for Lutherans now owns 748,769 shares of the casino operator’s stock valued at $70,138,000 after purchasing an additional 737,234 shares in the last quarter. Greenwich Wealth Management LLC acquired a new stake in Wynn Resorts during the second quarter worth approximately $46,845,000. Finally, Nuveen LLC acquired a new stake in Wynn Resorts during the first quarter worth approximately $41,731,000. Institutional investors own 88.64% of the company’s stock.

Wynn Resorts Company Profile

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.