Franklin Resources Inc. Acquires 1,165 Shares of Wynn Resorts, Limited (NASDAQ:WYNN)

Franklin Resources Inc. grew its holdings in shares of Wynn Resorts, Limited (NASDAQ:WYNN) by 0.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 250,962 shares of the casino operator’s stock after acquiring an additional 1,165 shares during the period. Franklin Resources Inc. owned about 0.23% of Wynn Resorts worth $26,088,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of WYNN. Wealth Enhancement Advisory Services LLC raised its position in shares of Wynn Resorts by 26.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 7,632 shares of the casino operator’s stock worth $683,000 after acquiring an additional 1,581 shares during the last quarter. Raymond James & Associates increased its position in Wynn Resorts by 3.5% during the 2nd quarter. Raymond James & Associates now owns 105,845 shares of the casino operator’s stock valued at $9,473,000 after purchasing an additional 3,579 shares during the period. Fifth Third Bancorp raised its holdings in Wynn Resorts by 8.5% during the 2nd quarter. Fifth Third Bancorp now owns 1,536 shares of the casino operator’s stock worth $137,000 after purchasing an additional 120 shares during the last quarter. Atria Wealth Solutions Inc. lifted its position in shares of Wynn Resorts by 193.9% in the 2nd quarter. Atria Wealth Solutions Inc. now owns 9,735 shares of the casino operator’s stock worth $871,000 after purchasing an additional 6,423 shares during the period. Finally, &PARTNERS increased its position in shares of Wynn Resorts by 7.3% during the second quarter. &PARTNERS now owns 6,333 shares of the casino operator’s stock worth $567,000 after buying an additional 431 shares during the period. Institutional investors and hedge funds own 88.64% of the company’s stock.

Wynn Resorts Stock Performance

Shares of WYNN stock opened at $88.31 on Friday. The company has a market capitalization of $9.70 billion, a price-to-earnings ratio of 10.89, a PEG ratio of 3.46 and a beta of 1.78. Wynn Resorts, Limited has a 52-week low of $71.63 and a 52-week high of $110.38. The company has a 50-day simple moving average of $93.82 and a two-hundred day simple moving average of $87.78.

Wynn Resorts (NASDAQ:WYNN) last released its earnings results 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 during the quarter, compared to the consensus estimate 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 revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.99 earnings per share. On average, sell-side analysts forecast that Wynn Resorts, Limited will post 4.79 EPS for the current fiscal year.

Wynn Resorts Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Susquehanna lifted their price objective on Wynn Resorts from $92.00 to $122.00 and gave the stock a “positive” rating in a research report on Friday, October 11th. Deutsche Bank Aktiengesellschaft lowered their target price on Wynn Resorts from $122.00 to $118.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Wells Fargo & Company reduced their price objective on shares of Wynn Resorts from $125.00 to $122.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. UBS Group upgraded shares of Wynn Resorts to a “hold” rating in a research report on Friday, August 23rd. Finally, StockNews.com lowered shares of Wynn Resorts from a “buy” rating to a “hold” rating in a research note on Tuesday, September 17th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $115.71.

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.