Wynn Resorts, Limited (NASDAQ:WYNN) Receives $121.43 Average Target Price from Analysts

Wynn Resorts, Limited (NASDAQ:WYNN) has been assigned an average rating of “Moderate Buy” from the twelve ratings firms that are presently covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $121.43.

A number of brokerages recently weighed in on WYNN. Macquarie upped their price objective on Wynn Resorts from $122.00 to $128.00 and gave the stock an “outperform” rating in a report on Friday, February 9th. Bank Of America (Bofa) upped their target price on shares of Wynn Resorts from $95.00 to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 17th. Susquehanna lifted their price target on shares of Wynn Resorts from $105.00 to $115.00 and gave the company a “positive” rating in a research report on Thursday, February 8th. JPMorgan Chase & Co. upped their price target on Wynn Resorts from $118.00 to $123.00 and gave the stock an “overweight” rating in a report on Tuesday, February 27th. Finally, StockNews.com raised Wynn Resorts from a “hold” rating to a “buy” rating in a report on Thursday, April 4th.

Wynn Resorts Stock Performance

WYNN stock opened at $97.23 on Wednesday. The stock has a market capitalization of $10.90 billion, a PE ratio of 16.26 and a beta of 1.91. The company has a fifty day moving average of $100.38 and a 200-day moving average of $95.38. Wynn Resorts has a one year low of $81.65 and a one year high of $113.50.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Tuesday, May 7th. The casino operator reported $1.59 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.16. Wynn Resorts had a net margin of 11.18% and a negative return on equity of 31.17%. The firm had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter last year, the firm earned $0.29 earnings per share. The firm’s revenue was up 30.9% compared to the same quarter last year. Equities analysts forecast that Wynn Resorts will post 5.37 earnings per share for the current fiscal year.

Wynn Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Monday, May 20th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.03%. Wynn Resorts’s payout ratio is 16.72%.

Insider Buying and Selling

In other Wynn Resorts news, Director Patricia Mulroy sold 960 shares of the business’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $105.17, for a total value of $100,963.20. Following the completion of the transaction, the director now directly owns 522 shares in the company, valued at approximately $54,898.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Patricia Mulroy sold 960 shares of Wynn Resorts stock in a transaction on Friday, February 9th. The stock was sold at an average price of $105.17, for a total value of $100,963.20. Following the completion of the sale, the director now owns 522 shares of the company’s stock, valued at $54,898.74. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Julie Cameron-Doe sold 6,383 shares of the company’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $105.27, for a total value of $671,938.41. Following the completion of the transaction, the chief financial officer now owns 78,150 shares of the company’s stock, valued at $8,226,850.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,578 shares of company stock worth $2,850,282. 0.52% of the stock is owned by insiders.

Institutional Investors Weigh In On Wynn Resorts

A number of institutional investors have recently bought and sold shares of the stock. Nisa Investment Advisors LLC grew its stake in shares of Wynn Resorts by 0.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 27,904 shares of the casino operator’s stock valued at $2,542,000 after buying an additional 109 shares during the period. Fifth Third Bancorp increased its stake in Wynn Resorts by 8.5% during the first quarter. Fifth Third Bancorp now owns 1,416 shares of the casino operator’s stock worth $145,000 after acquiring an additional 111 shares during the last quarter. Empirical Finance LLC raised its holdings in shares of Wynn Resorts by 3.7% in the 1st quarter. Empirical Finance LLC now owns 3,220 shares of the casino operator’s stock worth $329,000 after purchasing an additional 114 shares during the period. Federated Hermes Inc. lifted its stake in shares of Wynn Resorts by 47.5% in the 4th quarter. Federated Hermes Inc. now owns 435 shares of the casino operator’s stock valued at $40,000 after purchasing an additional 140 shares in the last quarter. Finally, Carlton Hofferkamp & Jenks Wealth Management LLC grew its holdings in shares of Wynn Resorts by 4.3% during the 3rd quarter. Carlton Hofferkamp & Jenks Wealth Management LLC now owns 3,630 shares of the casino operator’s stock worth $323,000 after purchasing an additional 150 shares during the period. 68.87% of the stock is currently owned by hedge funds and other institutional investors.

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.