Wynn Resorts, Limited (NASDAQ:WYNN) Given Average Rating of “Moderate Buy” by Brokerages

Wynn Resorts, Limited (NASDAQ:WYNN) has received a consensus recommendation of “Moderate Buy” from the fourteen research firms that are presently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $121.31.

A number of brokerages have issued reports on WYNN. Stifel Nicolaus increased their target price on shares of Wynn Resorts from $135.00 to $138.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Seaport Res Ptn raised shares of Wynn Resorts from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 30th. Citigroup increased their target price on shares of Wynn Resorts from $132.00 to $138.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Argus raised shares of Wynn Resorts from a “hold” rating to a “buy” rating and set a $110.00 target price for the company in a report on Thursday, May 23rd. Finally, Barclays increased their target price on shares of Wynn Resorts from $124.00 to $128.00 and gave the company an “overweight” rating in a report on Thursday, May 9th.

Wynn Resorts Stock Up 0.5 %

Shares of NASDAQ:WYNN opened at $89.20 on Thursday. The company has a market cap of $10.00 billion, a P/E ratio of 12.22 and a beta of 1.85. Wynn Resorts has a 52 week low of $81.65 and a 52 week high of $112.25. The company has a 50-day moving average price of $95.50 and a 200 day moving average price of $96.66.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Tuesday, May 7th. The casino operator reported $1.59 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.16. The firm had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.80 billion. Wynn Resorts had a net margin of 12.36% and a negative return on equity of 46.04%. The firm’s revenue was up 30.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.29 earnings per share. Analysts expect that Wynn Resorts will post 5.58 EPS for the current year.

Wynn Resorts Dividend Announcement

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

Insiders Place Their Bets

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

Institutional Trading of Wynn Resorts

Hedge funds and other institutional investors have recently bought and sold shares of the company. Blue Trust Inc. grew its stake in Wynn Resorts by 3,000.0% in the 4th quarter. Blue Trust Inc. now owns 279 shares of the casino operator’s stock worth $25,000 after acquiring an additional 270 shares during the period. ICA Group Wealth Management LLC acquired a new position in shares of Wynn Resorts in the 4th quarter valued at $27,000. Sunbelt Securities Inc. boosted its holdings in shares of Wynn Resorts by 4,285.7% in the 3rd quarter. Sunbelt Securities Inc. now owns 307 shares of the casino operator’s stock valued at $28,000 after purchasing an additional 300 shares during the last quarter. Register Financial Advisors LLC acquired a new position in shares of Wynn Resorts in the 1st quarter valued at $37,000. Finally, GAMMA Investing LLC acquired a new position in shares of Wynn Resorts in the 4th quarter valued at $38,000. 68.87% of the stock is owned by hedge funds and other institutional investors.

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.