Wynn Resorts (NASDAQ:WYNN) PT Raised to $122.00

Wynn Resorts (NASDAQ:WYNN) had its price objective boosted by Susquehanna from $92.00 to $122.00 in a report issued on Friday morning, Benzinga reports. Susquehanna currently has a positive rating on the casino operator’s stock.

Other analysts also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Wynn Resorts from $131.00 to $122.00 and set a buy rating for the company in a research note on Wednesday, August 7th. UBS Group upgraded Wynn Resorts to a hold rating in a report on Friday, August 23rd. StockNews.com lowered Wynn Resorts from a buy rating to a hold rating in a research note on Tuesday, September 17th. Jefferies Financial Group decreased their target price on shares of Wynn Resorts from $111.00 to $96.00 and set a hold rating on the stock in a research note on Thursday, July 11th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Wynn Resorts from $110.00 to $101.00 and set an overweight rating for the company in a report on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $115.20.

Wynn Resorts Trading Up 1.0 %

WYNN opened at $104.75 on Friday. The stock has a market capitalization of $11.74 billion, a P/E ratio of 14.35, a PEG ratio of 2.67 and a beta of 1.81. Wynn Resorts has a 12-month low of $71.63 and a 12-month high of $110.38. The stock has a 50-day moving average price of $82.92 and a 200-day moving average price of $89.28.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings results on Tuesday, August 6th. The casino operator reported $1.12 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.74 billion. Wynn Resorts had a net margin of 12.22% and a negative return on equity of 53.84%. The firm’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.91 earnings per share. On average, equities research analysts predict that Wynn Resorts will post 5.44 EPS for the current year.

Wynn Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 19th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $1.00 annualized dividend and a yield of 0.95%. Wynn Resorts’s payout ratio is 13.70%.

Insider Transactions at Wynn Resorts

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $78.73, for a total transaction of $208,634.50. Following the completion of the transaction, the director now owns 5,689 shares of the company’s stock, valued at approximately $447,894.97. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.52% of the company’s stock.

Hedge Funds Weigh In On Wynn Resorts

A number of institutional investors and hedge funds have recently made changes to their positions in WYNN. Interval Partners LP raised its position in shares of Wynn Resorts by 999.0% in the 1st quarter. Interval Partners LP now owns 400,911 shares of the casino operator’s stock worth $40,985,000 after purchasing an additional 364,432 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Wynn Resorts by 29.1% in the second quarter. Renaissance Technologies LLC now owns 1,345,100 shares of the casino operator’s stock worth $120,386,000 after buying an additional 303,033 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in shares of Wynn Resorts by 6,720.4% during the second quarter. Sequoia Financial Advisors LLC now owns 257,537 shares of the casino operator’s stock valued at $23,050,000 after buying an additional 253,761 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of Wynn Resorts by 22.2% during the first quarter. Janus Henderson Group PLC now owns 1,125,718 shares of the casino operator’s stock valued at $115,082,000 after acquiring an additional 204,852 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in Wynn Resorts by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 11,028,618 shares of the casino operator’s stock worth $1,127,456,000 after acquiring an additional 166,594 shares during the last quarter. Institutional investors own 68.87% of the company’s stock.

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.