Wynn Resorts, Limited (NASDAQ:WYNN) Receives $115.71 Consensus PT from Brokerages

Wynn Resorts, Limited (NASDAQ:WYNN) has earned a consensus rating of “Moderate Buy” from the fifteen research firms that are covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $115.71.

Several brokerages have commented on WYNN. Macquarie reissued an “outperform” rating and issued a $120.00 price target on shares of Wynn Resorts in a report on Tuesday, November 5th. UBS Group upgraded Wynn Resorts to a “hold” rating in a research report on Friday, August 23rd. StockNews.com lowered shares of Wynn Resorts from a “buy” rating to a “hold” rating in a report on Tuesday, September 17th. Morgan Stanley increased their price objective on Wynn Resorts from $112.00 to $115.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Finally, Susquehanna lifted their target price 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.

Wynn Resorts Price Performance

NASDAQ:WYNN opened at $88.70 on Thursday. Wynn Resorts has a 1 year low of $71.63 and a 1 year high of $110.38. The stock’s fifty day moving average price is $94.13 and its two-hundred day moving average price is $87.77. The company has a market cap of $9.74 billion, a P/E ratio of 10.94, a P/E/G ratio of 3.46 and a beta of 1.78.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings results on Monday, November 4th. The casino operator reported $0.90 earnings per share 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 61.16%. The company had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the prior year, the company earned $0.99 earnings per share. The company’s quarterly revenue was up 1.3% on a year-over-year basis. On average, analysts expect that Wynn Resorts will post 4.79 earnings per share for the current fiscal year.

Wynn Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Friday, November 15th were paid a $0.25 dividend. The ex-dividend date was Friday, November 15th. This represents a $1.00 annualized dividend and a dividend yield of 1.13%. Wynn Resorts’s payout ratio is 12.33%.

Institutional Investors Weigh In On Wynn Resorts

A number of hedge funds and other institutional investors have recently bought and sold shares of WYNN. International Assets Investment Management LLC bought a new stake in Wynn Resorts during the 2nd quarter valued at about $25,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Wynn Resorts during the third quarter valued at approximately $31,000. Blue Trust Inc. raised its holdings in Wynn Resorts by 556.0% in the 3rd quarter. Blue Trust Inc. now owns 551 shares of the casino operator’s stock worth $49,000 after acquiring an additional 467 shares during the last quarter. Allworth Financial LP lifted its position in Wynn Resorts by 17.5% in the 3rd quarter. Allworth Financial LP now owns 895 shares of the casino operator’s stock valued at $86,000 after acquiring an additional 133 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its stake in Wynn Resorts by 703.1% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,028 shares of the casino operator’s stock valued at $99,000 after purchasing an additional 900 shares during the last quarter. Hedge funds and other institutional investors 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.