Wynn Resorts (NASDAQ:WYNN) Given New $119.00 Price Target at Barclays

Wynn Resorts (NASDAQ:WYNN) had its price objective decreased by Barclays from $125.00 to $119.00 in a research report sent to investors on Tuesday morning,Benzinga reports. Barclays currently has an overweight rating on the casino operator’s stock.

WYNN has been the subject of several other research reports. Susquehanna upped their price target on shares of Wynn Resorts from $92.00 to $122.00 and gave the stock a “positive” rating in a research report on Friday, October 11th. JPMorgan Chase & Co. lowered their target price on Wynn Resorts from $110.00 to $101.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Macquarie reiterated an “outperform” rating and issued a $126.00 price target on shares of Wynn Resorts in a report on Wednesday, August 7th. UBS Group raised Wynn Resorts to a “hold” rating in a research report on Friday, August 23rd. Finally, Stifel Nicolaus dropped their price objective on Wynn Resorts from $121.00 to $103.00 and set a “buy” rating on the stock in a research report on Friday, September 13th. Four equities research 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. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $115.71.

Wynn Resorts Stock Up 2.2 %

WYNN opened at $87.17 on Tuesday. The stock’s fifty day moving average is $90.81 and its two-hundred day moving average is $88.65. The company has a market capitalization of $9.67 billion, a P/E ratio of 10.75, a PEG ratio of 2.48 and a beta of 1.80. Wynn Resorts has a 52 week low of $71.63 and a 52 week high of $110.38.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Monday, November 4th. The casino operator reported $0.90 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.11). Wynn Resorts had a net margin of 13.37% and a negative return on equity of 62.44%. The firm had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the prior year, the business posted $0.99 EPS. The business’s quarterly revenue was up 1.3% on a year-over-year basis. Equities analysts anticipate that Wynn Resorts will post 5.42 earnings per share for the current year.

Wynn Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Friday, November 15th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.15%. The ex-dividend date is Friday, November 15th. Wynn Resorts’s payout ratio is currently 12.33%.

Insider Buying and Selling

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of the company’s stock in a transaction that occurred on 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 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 SEC, which can be accessed through the SEC website. 0.52% of the stock is owned by company insiders.

Institutional Trading of Wynn Resorts

Several large investors have recently added to or reduced their stakes in WYNN. Vanguard Group Inc. lifted its holdings in shares of 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 purchasing an additional 166,594 shares during the period. Renaissance Technologies LLC increased its holdings in 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. Janus Henderson Group PLC raised 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 worth $115,082,000 after buying an additional 204,852 shares during the last quarter. Regal Partners Ltd lifted its stake in Wynn Resorts by 24.0% during the 3rd quarter. Regal Partners Ltd now owns 898,705 shares of the casino operator’s stock valued at $86,168,000 after acquiring an additional 174,005 shares during the period. Finally, Bamco Inc. NY boosted its holdings in shares of Wynn Resorts by 5.1% in the 1st quarter. Bamco Inc. NY now owns 788,335 shares of the casino operator’s stock valued at $80,591,000 after acquiring an additional 38,160 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.