Wynn Resorts (NASDAQ:WYNN) Given New $105.00 Price Target at Jefferies Financial Group

Wynn Resorts (NASDAQ:WYNN) had its target price lowered by Jefferies Financial Group from $109.00 to $105.00 in a report issued on Friday morning,Benzinga reports. The brokerage currently has a hold rating on the casino operator’s stock.

Other analysts have also issued research reports about the company. Susquehanna upped their target price on Wynn Resorts from $92.00 to $122.00 and gave the stock a “positive” rating in a research note on Friday, October 11th. JPMorgan Chase & Co. upped their price objective on shares of Wynn Resorts from $101.00 to $113.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Barclays decreased their target price on shares of Wynn Resorts from $125.00 to $119.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Wynn Resorts from $122.00 to $118.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Finally, StockNews.com downgraded Wynn Resorts from a “buy” rating to a “hold” rating in a report on Tuesday, September 17th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $116.36.

Wynn Resorts Stock Performance

NASDAQ WYNN opened at $83.32 on Friday. Wynn Resorts has a 52-week low of $71.63 and a 52-week high of $110.38. The company has a fifty day moving average of $91.04 and a 200-day moving average of $87.41. The company has a market capitalization of $9.15 billion, a P/E ratio of 10.27, a P/E/G ratio of 3.46 and a beta of 1.78.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings results on Monday, November 4th. The casino operator reported $0.90 earnings per share (EPS) 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 the consensus estimate of $1.73 billion. Wynn Resorts had a negative return on equity of 61.16% and a net margin of 13.37%. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period last year, the firm earned $0.99 EPS. As a group, analysts forecast that Wynn Resorts will post 4.79 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.20%. Wynn Resorts’s dividend payout ratio is currently 12.33%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Regal Partners Ltd grew its holdings in shares of Wynn Resorts by 24.0% during the 3rd quarter. Regal Partners Ltd now owns 898,705 shares of the casino operator’s stock worth $86,168,000 after acquiring an additional 174,005 shares during the period. Wellington Management Group LLP grew its stake in Wynn Resorts by 90.6% in the third quarter. Wellington Management Group LLP now owns 115,707 shares of the casino operator’s stock worth $11,094,000 after purchasing an additional 54,995 shares during the period. Crystal Rock Capital Management bought a new position in Wynn Resorts in the third quarter worth $719,000. MBB Public Markets I LLC purchased a new position in Wynn Resorts during the second quarter valued at $698,000. Finally, APG Asset Management N.V. boosted its holdings in shares of Wynn Resorts by 231.0% during the 2nd quarter. APG Asset Management N.V. now owns 11,176 shares of the casino operator’s stock valued at $933,000 after buying an additional 7,800 shares in the last quarter. 88.64% of the stock is owned by hedge funds and other institutional investors.

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.