Wynn Resorts, Limited (NASDAQ:WYNN) Receives $115.71 Average PT from Brokerages

Wynn Resorts, Limited (NASDAQ:WYNN) has been assigned a consensus rating of “Moderate Buy” from the fifteen analysts that are covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $115.71.

A number of research firms have commented on WYNN. Wells Fargo & Company decreased their target price on Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft dropped their target price on Wynn Resorts from $122.00 to $118.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. UBS Group upgraded shares of Wynn Resorts to a “hold” rating in a research note on Friday, August 23rd. Macquarie reiterated an “outperform” rating and issued a $120.00 price objective on shares of Wynn Resorts in a research note on Tuesday, November 5th. Finally, Susquehanna raised their target price on shares of Wynn Resorts from $92.00 to $122.00 and gave the stock a “positive” rating in a report on Friday, October 11th.

Wynn Resorts Stock Up 0.7 %

WYNN stock opened at $91.84 on Friday. The company has a market cap of $10.09 billion, a P/E ratio of 11.32, a price-to-earnings-growth ratio of 3.28 and a beta of 1.80. Wynn Resorts has a twelve month low of $71.63 and a twelve month high of $110.38. The business’s fifty day moving average is $93.33 and its 200-day moving average is $88.18.

Wynn Resorts (NASDAQ:WYNN) last posted its quarterly earnings data on Monday, November 4th. The casino operator reported $0.90 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.11). The firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.73 billion. Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.99 earnings per share. Research analysts anticipate that Wynn Resorts will post 4.87 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.09%. The ex-dividend date is Friday, November 15th. Wynn Resorts’s dividend payout ratio (DPR) is presently 12.33%.

Insider Transactions at Wynn Resorts

In related news, Director Patricia Mulroy sold 2,650 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $78.73, for a total transaction of $208,634.50. Following the transaction, the director now directly owns 5,689 shares in the company, valued at approximately $447,894.97. The trade was a 31.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.52% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in WYNN. Sunbelt Securities Inc. raised its position in shares of Wynn Resorts by 618.3% in the third quarter. Sunbelt Securities Inc. now owns 2,672 shares of the casino operator’s stock worth $256,000 after buying an additional 2,300 shares in the last quarter. Chiron Investment Management LLC purchased a new stake in Wynn Resorts during the third quarter valued at about $850,000. First Dallas Securities Inc. grew its position in Wynn Resorts by 124.4% during the 3rd quarter. First Dallas Securities Inc. now owns 52,406 shares of the casino operator’s stock worth $5,025,000 after acquiring an additional 29,055 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Wynn Resorts by 1.5% in the third quarter. Geode Capital Management LLC now owns 2,406,260 shares of the casino operator’s stock valued at $229,945,000 after acquiring an additional 34,907 shares during the period. Finally, M&T Bank Corp grew its position in shares of Wynn Resorts by 8.7% in the 3rd quarter. M&T Bank Corp now owns 4,358 shares of the casino operator’s stock worth $418,000 after buying an additional 348 shares during the last quarter. Hedge funds and other institutional investors 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.