Wynn Resorts (NASDAQ:WYNN) Price Target Raised to $115.00 at Morgan Stanley

Wynn Resorts (NASDAQ:WYNN) had its target price upped by Morgan Stanley from $112.00 to $115.00 in a research report sent to investors on Tuesday, Benzinga reports. They currently have an overweight rating on the casino operator’s stock.

Several other research firms have also recently issued reports on WYNN. Susquehanna upped their price objective on Wynn Resorts from $92.00 to $122.00 and gave the stock a “positive” rating in a research report on Friday, October 11th. Wells Fargo & Company increased their price target on shares of Wynn Resorts from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Jefferies Financial Group reduced their price objective on shares of Wynn Resorts from $111.00 to $96.00 and set a “hold” rating for the company in a research report on Thursday, July 11th. StockNews.com downgraded shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Tuesday, September 17th. Finally, UBS Group raised shares of Wynn Resorts to a “hold” rating in a research report on Friday, August 23rd. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $115.87.

Wynn Resorts Stock Performance

Shares of WYNN opened at $99.40 on Tuesday. The stock has a 50-day simple moving average of $85.90 and a 200-day simple moving average of $89.07. Wynn Resorts has a 1 year low of $71.63 and a 1 year high of $110.38. The stock has a market capitalization of $11.14 billion, a PE ratio of 13.62, a PEG ratio of 2.57 and a beta of 1.81.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Tuesday, August 6th. The casino operator reported $1.12 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.74 billion. Wynn Resorts had a net margin of 12.22% and a negative return on equity of 53.84%. Wynn Resorts’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.91 earnings per share. Analysts predict that Wynn Resorts will post 5.42 EPS for the current year.

Wynn Resorts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend was Monday, August 19th. Wynn Resorts’s payout ratio is 13.70%.

Insider Buying and Selling

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of Wynn Resorts stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $78.73, for a total value of $208,634.50. Following the sale, the director now owns 5,689 shares of the company’s stock, valued at approximately $447,894.97. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.52% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Wynn Resorts

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings 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 in the last quarter. Renaissance Technologies LLC lifted its position in shares of Wynn Resorts by 29.1% during the 2nd quarter. Renaissance Technologies LLC now owns 1,345,100 shares of the casino operator’s stock valued at $120,386,000 after acquiring an additional 303,033 shares during the period. Janus Henderson Group PLC boosted its stake in shares of Wynn Resorts by 22.2% during the 1st quarter. Janus Henderson Group PLC now owns 1,125,718 shares of the casino operator’s stock worth $115,082,000 after acquiring an additional 204,852 shares in the last quarter. Bamco Inc. NY grew its holdings in shares of Wynn Resorts by 5.1% in the 1st quarter. Bamco Inc. NY now owns 788,335 shares of the casino operator’s stock worth $80,591,000 after acquiring an additional 38,160 shares during the period. Finally, Regal Partners Ltd increased its stake in Wynn Resorts by 5.6% in the 2nd quarter. Regal Partners Ltd now owns 724,700 shares of the casino operator’s stock valued at $64,861,000 after purchasing an additional 38,344 shares in the last quarter. Institutional investors and hedge funds own 68.87% of the company’s stock.

About Wynn Resorts

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.