Wynn Resorts, Limited (NASDAQ:WYNN) Receives Consensus Rating of “Moderate Buy” from Analysts

Wynn Resorts, Limited (NASDAQ:WYNN) has earned an average recommendation of “Moderate Buy” from the fifteen ratings firms that are covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $115.71.

A number of equities research analysts recently weighed in on the company. Susquehanna raised their price objective on Wynn Resorts from $92.00 to $122.00 and gave the company a “positive” rating in a research report on Friday, October 11th. StockNews.com cut shares of Wynn Resorts from a “buy” rating to a “hold” rating in a report on Tuesday, September 17th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Wynn Resorts from $122.00 to $118.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Wells Fargo & Company lowered their target price on shares of Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Finally, Morgan Stanley upped their price target on Wynn Resorts from $112.00 to $115.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd.

Wynn Resorts Stock Down 0.5 %

WYNN opened at $91.29 on Friday. Wynn Resorts has a 52 week low of $71.63 and a 52 week high of $110.38. The company has a market capitalization of $10.03 billion, a P/E ratio of 11.26, a PEG ratio of 3.28 and a beta of 1.80. The stock’s fifty day moving average is $93.59 and its two-hundred day moving average is $88.07.

Wynn Resorts (NASDAQ:WYNN) last issued its quarterly earnings data on Monday, November 4th. The casino operator reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.11). The business had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.73 billion. Wynn Resorts had a net margin of 13.37% and a negative return on equity of 61.16%. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.99 earnings per share. Equities analysts anticipate that Wynn Resorts will post 4.87 earnings per share for the current year.

Wynn Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Friday, November 15th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, November 15th. This represents a $1.00 dividend on an annualized basis and a yield of 1.10%. Wynn Resorts’s dividend payout ratio is currently 12.33%.

Insider Transactions at Wynn Resorts

In other Wynn Resorts news, Director Patricia Mulroy sold 2,650 shares of the stock in a transaction 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 directly owns 5,689 shares of the company’s stock, valued at $447,894.97. This trade represents a 31.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.52% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of WYNN. State Board of Administration of Florida Retirement System raised its holdings in shares of Wynn Resorts by 16.5% during the first quarter. State Board of Administration of Florida Retirement System now owns 116,130 shares of the casino operator’s stock valued at $12,996,000 after acquiring an additional 16,448 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Wynn Resorts by 24.9% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 120,087 shares of the casino operator’s stock valued at $12,276,000 after buying an additional 23,919 shares during the last quarter. Kingsview Wealth Management LLC purchased a new position in shares of Wynn Resorts in the first quarter worth about $235,000. Vanguard Group Inc. boosted its position 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 during the last quarter. Finally, Covestor Ltd grew its stake in Wynn Resorts by 421.7% during the 1st quarter. Covestor Ltd now owns 626 shares of the casino operator’s stock valued at $64,000 after acquiring an additional 506 shares in the last quarter. Institutional investors and hedge funds 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.