Wynn Resorts, Limited (NASDAQ:WYNN) Receives $139.38 Consensus Price Target from Brokerages

Shares of Wynn Resorts, Limited (NASDAQ:WYNN) have received an average recommendation of “Moderate Buy” from the fifteen ratings firms that are covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $140.6923.

Several analysts have recently weighed in on the stock. Mizuho raised their price objective on shares of Wynn Resorts from $126.00 to $131.00 and gave the company an “outperform” rating in a research report on Thursday, November 13th. Wells Fargo & Company assumed coverage on Wynn Resorts in a research note on Tuesday, November 18th. They issued an “overweight” rating and a $151.00 target price on the stock. The Goldman Sachs Group reaffirmed a “buy” rating and set a $148.00 price target on shares of Wynn Resorts in a research note on Monday, December 15th. Zacks Research cut Wynn Resorts from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 25th. Finally, UBS Group set a $164.00 price objective on Wynn Resorts in a research report on Wednesday.

Institutional Investors Weigh In On Wynn Resorts

Institutional investors have recently made changes to their positions in the business. HighTower Advisors LLC raised its position in Wynn Resorts by 96.5% in the 1st quarter. HighTower Advisors LLC now owns 14,963 shares of the casino operator’s stock worth $1,249,000 after purchasing an additional 7,349 shares during the period. Candriam S.C.A. grew its stake in shares of Wynn Resorts by 163.0% during the first quarter. Candriam S.C.A. now owns 17,049 shares of the casino operator’s stock valued at $1,424,000 after buying an additional 10,567 shares during the last quarter. Norinchukin Bank The increased its holdings in shares of Wynn Resorts by 12.0% in the first quarter. Norinchukin Bank The now owns 4,626 shares of the casino operator’s stock worth $386,000 after buying an additional 495 shares during the period. Allstate Corp lifted its stake in shares of Wynn Resorts by 22.7% in the 1st quarter. Allstate Corp now owns 3,541 shares of the casino operator’s stock valued at $296,000 after acquiring an additional 655 shares during the last quarter. Finally, AlphaQuest LLC bought a new stake in shares of Wynn Resorts in the 1st quarter valued at about $25,000. Hedge funds and other institutional investors own 88.64% of the company’s stock.

Wynn Resorts Trading Down 0.5%

Shares of WYNN opened at $124.36 on Monday. The company has a market cap of $12.93 billion, a PE ratio of 27.82, a price-to-earnings-growth ratio of 8.53 and a beta of 1.10. The stock has a 50-day moving average price of $124.47 and a 200-day moving average price of $116.82. Wynn Resorts has a 12-month low of $65.25 and a 12-month high of $134.72.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data on Thursday, November 6th. The casino operator reported $0.86 earnings per share for the quarter, missing the consensus estimate of $1.09 by ($0.23). Wynn Resorts had a negative return on equity of 54.88% and a net margin of 7.09%.The company had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter last year, the company posted $0.90 earnings per share. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. As a group, analysts predict that Wynn Resorts will post 5.17 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Monday, November 17th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, November 17th. This represents a $1.00 annualized dividend and a dividend yield of 0.8%. Wynn Resorts’s dividend payout ratio (DPR) is 22.37%.

Wynn Resorts Company Profile

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.