Barclays Boosts Wynn Resorts (NASDAQ:WYNN) Price Target to $125.00

Wynn Resorts (NASDAQ:WYNN) had its price objective increased by Barclays from $108.00 to $125.00 in a research report report published on Thursday, Benzinga reports. Barclays currently has an overweight rating on the casino operator’s stock.

Other research analysts have also recently issued reports about the stock. UBS Group upgraded shares of Wynn Resorts to a “hold” rating in a research report on Friday, August 23rd. JPMorgan Chase & Co. reduced their target price on shares of Wynn Resorts from $110.00 to $101.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Stifel Nicolaus lowered their price target on shares of Wynn Resorts from $121.00 to $103.00 and set a “buy” rating for the company in a research note on Friday, September 13th. StockNews.com cut Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Tuesday, September 17th. Finally, Macquarie reissued an “outperform” rating and issued a $126.00 target price on shares of Wynn Resorts in a research note on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $115.67.

Wynn Resorts Price Performance

Shares of NASDAQ:WYNN opened at $99.44 on Thursday. Wynn Resorts has a one year low of $71.63 and a one year high of $110.38. The firm has a market capitalization of $11.14 billion, a price-to-earnings ratio of 13.62, a PEG ratio of 2.68 and a beta of 1.81. The company’s fifty day moving average price is $85.42 and its 200-day moving average price is $89.25.

Wynn Resorts (NASDAQ:WYNN) last released its quarterly earnings results 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). Wynn Resorts had a net margin of 12.22% and a negative return on equity of 53.84%. The firm had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter in the previous year, the business earned $0.91 EPS. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. As a group, equities research analysts expect that Wynn Resorts will post 5.44 EPS for the current year.

Wynn Resorts Dividend Announcement

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

Insider Activity at Wynn Resorts

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $78.73, for a total value of $208,634.50. Following the completion of the transaction, the director now directly owns 5,689 shares in the company, valued at approximately $447,894.97. This represents 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 company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Interval Partners LP boosted its position in shares of Wynn Resorts by 999.0% during the first quarter. Interval Partners LP now owns 400,911 shares of the casino operator’s stock valued at $40,985,000 after purchasing an additional 364,432 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Wynn Resorts by 29.1% in the 2nd 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 during the period. Sequoia Financial Advisors LLC increased its stake in shares of Wynn Resorts by 6,720.4% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 257,537 shares of the casino operator’s stock worth $23,050,000 after acquiring an additional 253,761 shares in the last quarter. Janus Henderson Group PLC lifted its position in 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 valued at $115,082,000 after acquiring an additional 204,852 shares during the period. Finally, Vanguard Group Inc. boosted its stake in Wynn Resorts by 1.5% during the first 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 in the last quarter. Hedge funds and other 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.