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

Shares of Wynn Resorts, Limited (NASDAQ:WYNN) have been assigned a consensus recommendation of “Buy” from the fourteen research firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating, twelve have given 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 $119.58.

Several research analysts have recently issued reports on WYNN shares. Jefferies Financial Group raised Wynn Resorts from a “hold” rating to a “buy” rating and upped their price objective for the stock from $105.00 to $118.00 in a research report on Tuesday, February 18th. Barclays boosted their target price on Wynn Resorts from $115.00 to $116.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Mizuho upped their price objective on Wynn Resorts from $118.00 to $132.00 and gave the company an “outperform” rating in a research note on Friday, February 14th. Stifel Nicolaus boosted their target price on Wynn Resorts from $123.00 to $128.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Finally, StockNews.com cut Wynn Resorts from a “buy” rating to a “hold” rating in a research report on Wednesday, March 12th.

Wynn Resorts Trading Down 0.5 %

Shares of NASDAQ WYNN opened at $82.63 on Friday. Wynn Resorts has a twelve month low of $71.63 and a twelve month high of $110.38. The stock has a market capitalization of $8.79 billion, a PE ratio of 19.63, a PEG ratio of 2.35 and a beta of 1.76. The stock has a fifty day simple moving average of $85.71 and a 200-day simple moving average of $88.83.

Wynn Resorts (NASDAQ:WYNN) last released its earnings results on Thursday, February 13th. The casino operator reported $2.42 EPS for the quarter, topping the consensus estimate of $1.27 by $1.15. Wynn Resorts had a negative return on equity of 71.17% and a net margin of 7.03%. The firm had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.78 billion. On average, equities analysts predict that Wynn Resorts will post 5.17 earnings per share for the current year.

Wynn Resorts Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date was Monday, February 24th. Wynn Resorts’s dividend payout ratio (DPR) is presently 23.75%.

Insider Transactions at Wynn Resorts

In other Wynn Resorts news, Director Philip G. Satre acquired 22,200 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were acquired at an average price of $92.18 per share, for a total transaction of $2,046,396.00. Following the completion of the acquisition, the director now directly owns 34,195 shares of the company’s stock, valued at $3,152,095.10. This trade represents a 185.08 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.52% of the company’s stock.

Institutional Investors Weigh In On Wynn Resorts

Several hedge funds have recently made changes to their positions in the business. IHT Wealth Management LLC boosted its holdings in shares of Wynn Resorts by 1.7% during the third quarter. IHT Wealth Management LLC now owns 6,766 shares of the casino operator’s stock worth $654,000 after purchasing an additional 112 shares during the last quarter. Fifth Third Bancorp boosted its holdings in Wynn Resorts by 5.8% in the fourth quarter. Fifth Third Bancorp now owns 2,183 shares of the casino operator’s stock valued at $188,000 after acquiring an additional 119 shares during the last quarter. Venturi Wealth Management LLC boosted its holdings in Wynn Resorts by 15.0% in the fourth quarter. Venturi Wealth Management LLC now owns 936 shares of the casino operator’s stock valued at $81,000 after acquiring an additional 122 shares during the last quarter. BOKF NA boosted its holdings in Wynn Resorts by 3.9% in the fourth quarter. BOKF NA now owns 3,557 shares of the casino operator’s stock valued at $289,000 after acquiring an additional 132 shares during the last quarter. Finally, Snowden Capital Advisors LLC boosted its holdings in Wynn Resorts by 5.6% in the fourth quarter. Snowden Capital Advisors LLC now owns 2,589 shares of the casino operator’s stock valued at $223,000 after acquiring an additional 138 shares during the last quarter. Institutional investors and hedge funds own 88.64% 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.